IPPNY Celebrates 15 Years of Competition!
Albany, N.Y. – Today, the Independent Power Producers of New York, Inc. (IPPNY) welcomes distinguished guests to celebrate New York’s 15th year of restructured energy markets at IPPNY’s 29th Annual Spring Conference and Showcase! In recognition of this significant milestone and the success of competitive wholesale energy markets, today’s conference features a panel discussion by former Chairs and Commissioners of the Federal Energy Regulatory Commission (FERC) on the evolution of wholesale energy markets over the past two decades and the challenges FERC faced during those times.
"A great victory for all of us in recent years has been the shifting of the risk of billions of dollars of power plant investment from captive ratepayers to companies in an open marketplace,” said Pat Wood, former FERC Chairman. “New York was one of the first states to move to a competitive wholesale power market, and many other states have since followed. Electricity underpins our entire 21st Century economy, so making sure the power markets work right is the essential task for all of us."
Just over 15 years ago, New York State boldly decided to move electricity generation away from an under-performing vertical monopoly structure and to a competitive marketplace. Since then, competition at the wholesale market level has resulted in sustained outstanding performance by independent power producers and innumerous benefits to New York’s ratepayers. Today, New York’s electricity is generated more efficiently, more cleanly, more reliably, and more affordably than ever before.
Also to discuss the development of New York’s energy markets will be a panel of current and former Presidents of the New York Independent System Operator (NYISO) – the agency tasked with administering and monitoring those energy markets.
“New York’s 19 million consumers today enjoy benefits made possible by federal and state policies that reinvented the electricity marketplace,” said NYISO President and CEO Stephen Whitley. “New York’s competitive markets have sustained and enhanced the reliability of the electric system by driving investment where it is most needed and by encouraging the development of cleaner, greener, and more economically efficient resources.”
“Competition at the wholesale market level has resulted in tremendous benefits to ratepayers,” said Gavin Donohue, President & CEO of IPPNY. “Over the last decade, New York has seen lower wholesale electricity prices, significantly reduced emissions, an increase in the use of renewables, and greater private investment in areas of the state where power is needed most – all while maintaining reliability”
This year's conference also includes updates from both Assembly and Senate Energy Chairs - Amy Paulin and Joseph Griffo.
“I’m very pleased that IPPNY has once again invited me to provide a legislative update at their annual conference of industry leaders,” said Assemblywoman Amy Paulin. “The competitive wholesale electricity sector has a critical role to play in ensuring that New York residents and businesses continue to have safe, reliable, resilient, and affordable sources of power. I am working toward the same goal through legislation I have sponsored, including my shared renewable energy bill that would allow city dwellers and others who cannot easily purchase or install renewable energy systems to share in the benefits of clean renewable energy.”
“I am especially pleased to begin my tenure as Chairman of the Senate Energy and Telecommunications Committee this year, because 2015 marks the 15th anniversary of the creation of competitive wholesale energy markets in New York,” said Senator Joseph Griffo. “The development of New York’s energy markets over the past twenty years is a success story worth celebrating, and I plan to help build upon this success. As we move forward to upgrade and modernize our energy transmission and delivery system, it is critical to continue to promote competitive markets, support private enterprise and a diverse portfolio of clean energy technologies, streamline regulations, generate new jobs and keep consumer costs down. This is an exciting time in the energy sector and I look forward to the challenges ahead as we continue to progress and make improvements that will benefit New Yorkers for years to come.”
“IPPNY is honored to have such distinguished guests highlighting this year’s Spring Conference,” said Donohue. “On the 15th anniversary of competitive wholesale energy markets in New York, we could not have asked for individuals more instrumental in the development of those markets to join us.”
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The Independent Power Producers of New York, Inc. (IPPNY) is an Albany-based trade association representing the competitive power supply industry in New York State. IPPNY Members generate over 75 percent of New York's electricity using a wide variety of generating technologies and fuels including hydro, nuclear, wind, coal, oil, natural gas and biomass. They have invested over $10 billion in their facilities and employ over 10,000 people. Annually, they pay over $600 million in taxes and invest more than $55 million in their communities.
