Power Authority of the State of New York

CURRENT FUNCTIONS. The Power Authority is responsible for providing an adequate supply of safe and economical power for the citizens of New York State. It accomplishes this by financing, constructing, and operating electric generation and transmission facilities in New York State.

Construction is financed through the sale of tax-exempt bonds and may be undertaken by the authority on its own or in cooperation with private utilities. Operational costs are funded by revenue raised by the sale of power to public agencies, industries, investor-owned utilities, and municipalities. The authority operates a variety of facilities, including nuclear and hydroelectric facilities, and also investigates other alternative sources of power.

ORGANIZATIONAL HISTORY. The Power Authority of the State of New York (PASNY) was created in 1931 (Chapter 772) as an agency to improve, along with appropriate Canadian and United States authorities, the International Rapids Section of the St. Lawrence River near Massena as a means of commerce and navigation and to develop available hydroelectric power resources. In 1950, additional power resources of the Niagara River were made available to the United States under a treaty with Canada, and the following year PASNY was authorized by statute to develop additional power resources of this river.

In 1953 the authority was granted a license by the Federal Power Commission to construct, maintain and operate the St. Lawrence Power Project. As a public benefit corporation, the Power Authority sold revenue bonds to defray the cost of the project. In 1958 the Authority was granted another license to construct, maintain, and operate the Niagara Power Project, completed in 1963. In the case of both projects, contracts for the sale of power are expected to pay off debts incurred by construction and operation of the facilities.

In 1968 the authority was granted the right to construct nuclear facilities and hydroelectric pumped storage projects within specified areas, either alone or in cooperation with private utilities. The authority has completed projects at Blenheim-Gilboa (Schoharie County) and Nine Mile Point (on Lake Ontario near Oswego). In 1974 the authority also acquired and now operates power facilities in Astoria (Queens County) and Indian Point (a nuclear plant in Westchester County) to supply electricity to the New York City metropolitan area.

The Public Authorities Law was amended in 1978 to permit the Power Authority to develop small-scale hydroelectric projects. A number of such projects have be undertaken, including those on the Ashokain Reservoir (Ulster County), the Kensico Reservoir (Westchester County), and at Hinkley Dam and Reservoir (Oneida and Herkimer Counties).

In 1978 the Power authority also completed a transmission line to import power from Hydro-Quebec; in 1982 a thirteen year contract was signed for importing hydroelectric energy.

The Power Authority of the State of New York (PASNY) was created in 1931 (Chapter 772) as an agency to improve, along with appropriate Canadian and United States authorities, the International Rapids Section of the St. Lawrence River near Massena as a means of commerce and navigation and to develop available hydroelectric power resources. In 1950, additional power resources of the Niagara River were made available to the United States under a treaty with Canada, and the following year PASNY was authorized by statute to develop additional power resources of this river.

In 1953 the authority was granted a license by the Federal Power Commission to construct, maintain and operate the St. Lawrence Power Project. As a public benefit corporation, the Power Authority sold revenue bonds to defray the cost of the project. In 1958 the Authority was granted another license to construct, maintain, and operate the Niagara Power Project, completed in 1963. In the case of both projects, contracts for the sale of power are expected to pay off debts incurred by construction and operation of the facilities.

In 1968 the authority was granted the right to construct nuclear facilities and hydroelectric pumped storage projects within specified areas, either alone or in cooperation with private utilities. The authority has completed projects at Blenheim-Gilboa (Schoharie County) and Nine Mile Point (on Lake Ontario near Oswego). In 1974 the authority also acquired and now operates power facilities in Astoria (Queens County) and Indian Point (a nuclear plant in Westchester County) to supply electricity to the New York City metropolitan area.

The Public Authorities Law was amended in 1978 to permit the Power Authority to develop small-scale hydroelectric projects. A number of such projects have be undertaken, including those on the Ashokain Reservoir (Ulster County), the Kensico Reservoir (Westchester County), and at Hinkley Dam and Reservoir (Oneida and Herkimer Counties).

In 1978 the Power authority also completed a transmission line to import power from Hydro-Quebec; in 1982 a thirteen year contract was signed for importing hydroelectric energy.