Cuomo Urges Feds To Deny NYRI Request
Published: July 9th, 2008
By: Michael McGuire

NORWICH – State Attorney General Andrew Cuomo is urging the federal government to dismiss New York Regional Interconnect’s request for guaranteed profits, according to a letter his office sent out Tuesday.

Cuomo argues NYRI’s petition – asking for a 13.5 percent annual rate of return for three years – is “premature,” “unjustified” and “excessive.”

Power line officials say they’re only following the precedent set by Washington and fellow transmission investors.

“In short,” states Cuomo, “NYRI’s request asks New Yorkers not only to bear the considerable threats posed by the NYRI (power line) to New York’s environment and to New York’s property, but also guarantee NYRI an excessive profit.”

NYRI officials contend their project – a 400,000 volt power line that would run from Utica to Orange County – is the biggest electricity upgrade proposed in the state in 25 years. They claim it would reduce electricity rates in metropolitan New York, prevent future blackouts and open the grid to environmentally friendly power sources, like windmills.

Based on requirements set by the Federal Energy Regulatory Commission, the agency that oversees return rate incentives, Cuomo says NYRI hasn’t proven its project will benefit anything.

TO READ THE FULL STORY

The Evening Sun

Continue reading your article with a Premium Evesun Membership

View Membership Options




Comments