|NYPA to Provide Continued Reliability to State Power Grid|
|First Request to Modify Its Transmission Revenue Requirement Since 1999|
|July 27, 2012|
|FOR IMMEDIATE RELEASE|
WHITE PLAINS—The New York Power Authority (NYPA) filed a request on Friday with the Federal Energy Regulatory Commission (FERC) to modify its transmission revenue requirement (TRR), which would result in an increase to the NYPA Transmission Adjustment Charge (NTAC) on electric utility bills. All electricity customers in New York State pay the NTAC as part of a New York Independent System Operator (NYISO) charge on their monthly electric bills. The NYISO manages the wholesale electric market and bulk transmission system in the state. A typical residential customer of a New York investor-owned utility, using 700 kilowatt-hours (kwh) a month, would see an estimated monthly bill increase of only seven cents from the NTAC adjustment. Most other types of customers would see a similar proportional increase on their utility bills, approximating one-tenth of one percent. This is the first such modification to be requested by the Power Authority since the NYISO was formed in 1999 and will allow the statewide public power utility to recover its current operating and maintenance costs for the continued reliability of its extensive high-voltage transmission system of more than 1,400 circuit-miles of lines. Transmission costs have risen significantly over the intervening period. NYPA’s transmission facilities benefit all New Yorkers and are crucial to the reliable, efficient and safe operation of the state’s electric power grid, as they interconnect to all other New York utilities and adjoining out-of-state electric-control areas. FERC approved the establishment of the NTAC in 1999 to allow NYPA to recover the operating costs of its transmission facilities. Subject to FERC’s review process, the Power Authority’s request to modify its TRR would become effective August 1. FERC is expected to issue an order (decision) within 60 days of NYPA’s filing. NYPA has committed to make refunds for any NTAC collections that exceed the level that FERC ultimately approves. NYPA’s filing documents are on its website at www.nypa.gov/TransmissionFiling and will also be posted on the websites of FERC and the NYISO.
■The New York Power Authority uses no tax money or state credit. It finances its operations through the sale of bonds and revenues earned in large part through sales of electricity. ■NYPA is a leader in promoting energy efficiency, new energy technologies and electric transportation initiatives.■It is the nation's largest state public power organization, with 17 generating facilities in various parts of New York State and more than 1,400 circuit-miles of transmission lines. ■Approximately 80 percent of the electricity it produces is clean renewable hydropower. Its lower-cost power production and electricity purchases support hundreds of thousands of jobs throughout the state.■For more information, www.nypa.gov
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