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Carey Announces Retirement as NYPA President and CEO

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May 25, 2007

FOR IMMEDIATE RELEASE

WHITE PLAINS—Timothy S. Carey, president and chief executive officer of the New York Power Authority, announced Thursday that he is retiring from the utility, effective June 30. 

Carey, who made the announcement at an employee recognition dinner in White Plains, said "I feel very confident that with the high quality of people we have at NYPA, from top to bottom, we're in good shape and pointed in the right direction."  “This,” he added, "is a good time for me to take some personal time to relax and figure out what I'm going to do with the rest of my life." 

Frank S. McCullough, Jr., Power Authority chairman, said he was sorry to see Carey leave the Authority, but added, "He certainly has done a great job for us in a relatively short period of time." 

McCullough noted that in the nearly two years Carey served as a NYPA officer and the five previous years he served on the Board of Trustees, he was significantly involved in a number of major issues. 

"Tim played large roles in the successful efforts to obtain new 50-year federal licenses for the Niagara and the St. Lawrence-Franklin D. Roosevelt Power Projects, said Chairman McCullough. "Carey also had a prominent role in the completion of a 500­megawatt (MW) combined cycle power plant in Queens, a major milestone in NYPA's goal of reliably serving the people of New York State." 

McCullough said it was appropriate that Carey made the announcement at a dinner for employees marking their own milestones of service at the Power Authority. "In the short time Tim was the CEO and president, he probably shook hands with just about every staff member we have." 

A native of Ossining and a long-time resident of Montrose, Carey began his career in public service in 1984 when he was elected to the Westchester County Board of Legislators, representing District 1. He served five consecutive terms before leaving the board to become Director of Intergovernmental and Legislative Affairs for Gov. George E. Pataki. He subsequently became Chairman and Executive Director of the state Consumer Protection Board. 

Carey was President and CEO of the Hugh L. Carey Battery Park City Authority (BPCA) from May 1999 to September 2005. He led the 92-acre waterfront community, which is home to the World Financial Center, 30 acres of parkland and over 9,000 permanent residences, in its recovery after 9/11. 

During his years at the BPCA, Carey oversaw the environmentally balanced development of this distinctive section of Lower Manhattan including the precedent­-setting construction of The Solaire as the nation's first sustainable "green" residential high-rise building which achieved Gold designation under the U.S. Green Building Council's (USGBC) Leadership in Energy and Environmental Design (LEED) rating system. 

In 2006, he led the effort to continue energy-efficiency and environmental upgrades to NYPA's main administrative offices in White Plains. The building was designated the first LEED Gold-EB (existing building) in New York State. With these accomplishments and his continued commitment to "green" building practices, Carey was appointed a member of the 2007 National Board of Directors of the USGBC. 

He attended local public and parochial schools in Ossining. In July 1966, he began service in the U.S. Army, serving as a Military Policeman, until his honorable discharge in July 1968. He is past-commander of Parker-Bale American Legion Post in Ossining. Following military service, Carey entered Westchester Community College, and earned an Associate of Arts degree. He continued his education at Albany State University where he earned his Bachelor of Arts degree in 1974. 

Carey currently serves as Chairman of the Westchester Community College Board of Trustees. He also serves on the Advisory Board of the Rockefeller College of the University at Albany. He also had served as a board member for the New York State Energy Research and Development Authority. 

Carey and his wife, Alida, reside in the town of Cortlandt. They are the parents of a daughter, Dawn, and three sons, Thomas, Sean, and Brian and have six grandchildren. 

     About NYPA:

 ■    NYPA 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-owned electric utility, with 18 generating facilities in various parts of the state and more than 1,400 circuit-miles of transmission lines.

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