Holding down the price of energy for New Yorkers is important to NYSERDA. Through its financing program, NYSERDA issues tax-exempt bonds and notes on behalf of utility companies to finance certain eligible costs of their electric, gas, or steam-service systems. Under certain circumstances, NYSERDA also can issue tax-exempt special energy project bonds to reduce costs of borrowing for businesses and institutions in the State. These interest-cost savings directly benefit New Yorkers.
New York State's utility customers will save nearly $3.7 billion in interest costs on the close to $3.7 billion in bonds that NYSERDA has outstanding.
NYSERDA has over $30.1 million outstanding in tax-exempt and taxable State Service Contract Revenue Bonds issued to finance a portion of the State's share of West Valley Demonstration Program expenditures.
This is a table listing outstanding bond program benefits.
|Bond Program Benefits
||Amount Outstanding (in thousands)
|Brooklyn Union Gas Company
|Central Hudson Gas & Electric Corp.
|Consolidated Edison Company of New York, Inc.
|KeySpan - GenCo.
|NYS Electric & Gas Corporation
|Niagara Mohawk Power Corporation
|Orange and Rockland Utilities, Inc.
|Rochester Gas and Electric Corp.
Last Updated: 02/25/2013