New York Makes New Low-Cost Hydropower Allocations

January 29, 2014

The state of New York on January 28 announced new allocations of low-cost New York State hydropower for three firms that will support more than 1,900 jobs and more than $6 million in capital investments. The New York Power Authority Board of Trustees  approved hydropower allocations to Ingram Micro in Amherst and Graphic Controls in Buffalo. Additionally, the board approved a hydropower allocation to the Village of Groton Electric Department to facilitate the construction of a Finger Lakes Fresh produce distribution center.

The low-cost Niagara hydropower is currently priced at more than 50% less than wholesale market electricity in the regions of the latest allocations. In addition to new permanent jobs, the capital investments by the companies receiving the latest power awards are expected to support dozens of construction jobs. See the New York press release.