Memorandum in Support - S.7027 (Parker)
S.7027 (Parker) - AN ACT in relation to maintaining the continued viability of the state's existing large-scale, renewable energy resources
The Independent Power Producers of New York, Inc. (IPPNY) is a trade association representing companies involved in the competitive power supply industry in New York State and in the development of electric generating facilities, the generation, sale, and marketing of electric power, and the development of natural gas transmission facilities. IPPNY Member companies produce the majority of New York's electricity, utilizing hydro, nuclear, wind, natural gas, solar, energy storage, biomass, oil, and waste-to-energy.
IPPNY supports S.7027 (Parker). This bill would require the Public Service Commission (PSC) to remedy its Competitive Tier 2 Program for existing eligible renewable energy facilities so it is structured in a way that best ensures the ongoing benefits of those facilities for New York State and the economies of their host communities.
These renewable resources help ensure that existing progress towards the State’s targets under the Climate Leadership and Community Protection Act (CLCPA) is maintained, and that associated investment must be retained in a viable and sustainable manner. The existing Competitive Tier 2 has demonstrated a failure to achieve these outcomes and, therefore, must be modified to stop the erosion of New York’s renewable energy baseline through the closure of renewable resources or those facilities choosing to export their renewable attributes to neighboring states. Accordingly, these facilities should be compensated fairly for the value of their renewable attributes so that these resources can serve as the foundation to meeting the CLCPA’s goals. The PSC’s competitive program for existing renewable facilities should remain in place until an alternative market-based mechanism is established to fully value emissions-free electricity.
For the reasons stated above, IPPNY supports S.7027 (Parker).
