Joe Robach recently announced that 517 businesses and not-for-profit organizations across New York State will be awarded the first round of lower cost power allocations under the ReCharge New York (RNY) program, a major statewide initiative for retaining and creating jobs and spurring capital investments by making low cost power available to New York State companies.
The New York Power Authority approved the allocations totaling nearly 600 megawatts to 517 enterprises across New York in return for their retention of thousands of jobs and billions of dollars in capital investments. The power will be available July 1, as provided for under the RNY legislation signed into law in last year by Joe Robach and the Senate.
NYPA staff reviewed more than 1,000 applications, in consultation 10 Regional Economic Development Councils, for the first round of allocations. Applications were considered on the basis of various statutory criteria. In addition to jobs and capital investments, the criteria included the extent to which an allocation would be consistent with existing regional economic development strategies, the significance of the cost of electricity to the overall cost of doing business, applicant’s risk of closure or curtailing operations, the significance of the applicant’s facility to the local economy, and its commitment to energy efficiency.
The Recharge New York program offers up to seven-year contracts for lower-cost power. The legislation establishing the program reserves at least 350 MW for upstate businesses and institutions, 200 MW for business attraction and expansion, and up to 100 MW for not-for-profit organizations. The enactment of the ReCharge New York legislation was a major achievement in New York State’s efforts to partner with businesses across the state in the harnessing of its lower-cost power for economic development. Over recent years, a number of efforts had been undertaken in this direction only to fall short.
Joe Robach announced that ReCharge New York replaced two existing initiatives—the Power for Jobs (PFJ) and Energy Cost Savings Benefit (ECSB) Programs—which statutorily expire on June 30. Unlike ReCharge New York, those two programs provided for only short-term allocations, limiting their effectiveness as an economic development tool.
Additional power allotments under RNY are expected in the months ahead from the remaining amount of lower cost power set aside under the legislation for the program. (One megawatt is the equivalent of power used by 800 to 1,000 typical homes.) Half of the amount of power—455 MW—is low cost hydropower from NYPA’s Niagara and St. Lawrence-Franklin D. Roosevelt hydroelectric projects in Lewiston and Massena, respectively. The remaining 455 MW is economical power secured by NYPA from wholesale market sources. For more information about the RNY program and other job initiatives, please contact Joe Robach’s office.