By: Michael Harris |
The 2013 Annual Report released by the New York Power Authority earlier this week reveals that the utility is in a strong financial position and a leading provider of low-cost electricity.
NYPA, which produces more than 70% of its energy via hydroelectric projects, is the nation’s largest state public power organization. The authority’s 2013 report, available online here, said the utility provided more than US$1.2 billion in direct customer bill savings this past year.
The report also said NYPA’s economic development programs are now supporting more than 400,00 jobs across New York while helping secure $32 billion in capital investment from recipients of low-cost power allocations.
Additional highlights include:
- Continuing investments totaling $1.2 billion in infrastructure upgrades, including $460 million for the Life Extension and Modernization (LEM) project at the Lewiston pumped-storage hydropower plant;
- 27.8 billion kWh of electricity generated at NYPA facilities, 70% of which came from hydropower plants; and
- Attendance of 187,000 people at NYPA’s admission-free visitor centers, located at the St. Lawrence-Franklin D. Roosevelt, Niagara and Blenheim-Gilboa pumped-storage hydropower power projects.
NYPA also released a three-year overview of its fiscal performance that demonstrates how the company is in position to implement its 2014-19 Strategic Vision, which was announced in March.
