In a release put out today the Independent Power Producers of New York, Inc., President and CEO Gavin Donohue reacts to a report by the Public Policy Institute of New York State.

“Independent Power Producers of New York, Inc. (IPPNY) today expressed their strong support of the Public Policy Institute’s latest findings exposing how energy taxes contribute to high electricity rates for New York State energy consumers and further weaken the state’s economy. Earlier today, the Public Policy Institute, the research affiliate of The Business Council of New York State, Inc. unveiled a new report, entitled Short-Circuiting New York’s Recovery, How Energy Taxes Contribute to High Electric Rates in New York, which highlights the direct relationship between New York State’s record high taxes on its energy industry and the subsequent increased cost passed on to consumers through their electricity rates…

“This report further supports IPPNY’s position that the state needs to find alternative approaches for meeting its revenue needs, without increasing energy costs for consumers and hampering the ability of power producers to continue to make needed investment in reliable energy supplies,” said IPPNY President and CEO Gavin Donohue. “I applaud the Public Policy Institute for their initiative and efforts to display the out of line tax structure that exists in New York and the resulting increase in costs that are ultimately borne by New York’s consumers.” He continued, “Although the report highlights the layering on of taxes by the state it is important to consider that New York’s energy industry is subjected also to the layering on of additional non tax related regulations and fees that further exacerbates the negative economic impact on electricity consumers. The report paints a bleak picture of New York State’s future if these policies continue.”

To read IPPNYS’s press release click here.

To read the PPI report click here.