NYS Legislature Looks to Pile on Energy Consumers
Albany, N.Y. 6/25/10 Energy consumers have become the latest target in the New York State Legislatures efforts to tax its way into a balanced budget, according to the Independent Power Producers of New York, Inc. (IPPNY). Every day electricity ratepayers ranging from manufacturers to small businesses to households would be forced to pick up the tab for proposed broad-based taxes or fees on fuels used to produce electricity. Such an increase in energy costs would come on the heels of the 2009 State Budget, which included $853 million in new and/or increased taxes and fees on New Yorks energy sector. Unfortunately for New Yorkers, such taxes and fees ultimately result in higher energy prices for the states businesses and residents, with last years extra charges equating to an annual increase of over $900 in household power bills.
New Yorks energy industry is an economic engine for New York State, said Gavin Donohue, IPPNY President and CEO. Power producers in this state are not only a source of clean and efficient energy, they also provide thousands of jobs and already pay over $6.3 billion in state and local taxes, assessments and fees. Were in the midst of tough economic times, and the Legislature is proposing taxes and fees to increase not only the cost of doing business in New York, but the cost of turning on your lights at night.
What kind of signal is New York trying to send to existing businesses and potential future investors by repeatedly targeting this industry as a source of revenue for the state? said Donohue. Right now that signal is telling industry to do business somewhere else and telling consumers that their needs come last.
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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.
