Public Service Commission Chairwoman Audrey Zibelman sat down with The Poughkeepsie Journal’s editorial board earlier this week to discuss transmission line planning and highlighting the PSC will do “everything we can to avoid” eminent domain land seizures and to try to keep projects within existing rights-of-way.
The commission is currently accepting proposals to solve New York state’s grid problems. Final proposals are expected in 2015 and a decision would be expected a year or more after that.
She also said that Governor Cuomo’s State of the State comments urging an expedited review process for low-impact transmission projects were in line with the PSC’s vision and an amendment to the state’s transmission line siting law would be needed.
Watch the full video on the Poughkeepsie Journal’s website.
Governor Cuomo announced $210 million in initial funding for NY Green Bank, a market oriented approach to accelerate clean energy deployment, create jobs, and help make our communities more resilient and sustainable. Initial funding combines $165 million redirected from other programs and approved today by the Public Service Commission (PSC) and $45 million from the Regional Greenhouse Gas Initiative (RGGI).
“Affordable, reliable energy is key for economic growth across New York. Through the Green Bank, Governor Cuomo, the PSC and New York State Energy Research and Development Authority are taking positive actions to balance today’s energy needs with our longer term objectives to transition to a cost-effective, clean energy system,” said Heather C. Briccetti, Esq., president and CEO of The Business Council. “The Business Council supports the market transformative opportunities that will be promoted through the Green Bank.”
With today’s PSC approval, the NY Green Bank is expected to open for business and offer its first financial products in early 2014. The NY Green Bank will partner with private sector institutions by providing financial products such as credit enhancement, loan loss reserves and loan bundling to support securitization and build secondary markets. These products will support economically viable clean energy projects that cannot currently access financing due to market barriers, such as federal policy uncertainty, insufficient performance data, and the lack of publicly traded capital markets for clean energy.