NYPA to hold hydropower rate level
The New York Power Authority says it will continue to hold its hydropower rate at the level adopted in May 2008.
NYPA chief Richard Kessel says the authority’s board adopted a measure in March 2009 keeping the rate at the 2008 level, and since “New York State and the nation continue to face difficult economic conditions,” Kessel said, the Power Authority seeks to “ease some of the impacts of the economic stress being felt by businesses and consumers by adopting a freeze on its hydro rates for low-cost power from the Niagara and St. Lawrence-FDR power projects.”Kessel said the 2009 freeze came as a scheduled rate increase was about to go into effect.
“We suspended a scheduled rate increase last year in light of those conditions and will continue the freeze for now.”
The hope is that the freeze will help keep costs down for business electric customers in western and northern New York and for upstate residents, Kessel said.
Among the customers cited in the announcement was Alcoa in northern New York.