Deal to Double Wind Power in the State (NY)

NY Times ^ | September 4, 2008 | NICHOLAS CONFESSORE

[neverdem]

ALBANY — State regulators approved a deal on Wednesday that will allow the construction of hundreds of new wind turbines in New York, doubling the amount of wind power capacity within a few years.

The Public Service Commission voted unanimously to allow Iberdrola S.A., a Spanish energy conglomerate, to acquire Energy East, a Maine-based utility with operations in five states.

Iberdrola said earlier this summer that it would invest at least $2 billion in wind turbines across upstate New York if the commission allowed it to acquire Energy East, subsidiaries of which supply electricity or natural gas to 1.7 million customers in the state.

The commission’s decision was the final hurdle for the $4.6 billion deal, which had been approved by federal and other state regulators, but spent a year under scrutiny by the commission’s staff, which recommended that it be blocked.

In approving the acquisition, the commission substantially lightened the conditions of sale that had been recommended by its staff, which had been criticized as onerous by Iberdrola and elected officials of both parties. The commission likewise moderated the recommendations made in June by an administrative law judge, who largely endorsed the staff proposal.

For example, the commission said that Iberdrola would need to provide only $275 million worth of rebates to Energy East’s current New York customers, far less than the $646 million the commission’s analysts had earlier proposed.

The commission’s staff had also opposed allowing Iberdrola to build wind turbines in the state, arguing that it would violate a longstanding commission policy to prevent the generation, transmission and distribution of power by a single company, which could leave customers and suppliers vulnerable to price manipulation.

But the commission members said they would allow Iberdrola to develop wind power as long as it obeyed restrictions devised to mitigate...

[antiunion person]

There's a way to triple wind power in New York. Have all the politicians blow out at once.

[gleeaikin]

wind power ping

[neverdem]

Ping

[Skybird]

Placing a portable turbine at one of Hillary’s or Bill’s speeches could power a whole lot of New York.

[Covenantor]

Very interesting questions raised on the Iberdola bid. Scroll down to read the comments on the wind farm scams re: gov. subsidies.

New York PSC to rule on Iberdrola’s $4.5B bid for Energy East

http://www.democratandchronicle.com/apps/pbcs.dll/article?AID=/20080826/NEWS01/808260336&s=d&page=2#pluckcomments

[Rudder]

Does it say anywhere in this article the reason why NYS is using wind power?

[IbJensen]

This will be a great help to NY state. The birds won't be too happy.

Colossal waste of money, but what's new?

T-Bone Pickins and Nazi Pelousi will reap big benefits though.

[neverdem]

Thanks for the link.