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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.
| Bond Program Benefits |
Amount Outstanding
(in thousands) |
| Brooklyn Union Gas Company |
$640,500 |
| Central Hudson Gas & Electric Corp. |
165,950 |
| Consolidated Edison Company of New York, Inc. |
1,085,900 |
| Corning Natural Gas Company |
3,100 |
| KeySpan - GenCo. |
221,425 |
| NYS Electric & Gas Corporation |
601,000 |
| Niagara Mohawk Power Corporation |
650,065 |
| Orange and Rockland Utilities, Inc. |
99,000 |
| Rochester Gas and Electric Corp. |
187,900 |
| TOTAL |
$3,654,840 |
For more information on NYSERDA's Financing program, contact Jeff Pitkin at (518) 862-1090, ext. 3223; fax (518) 862-1091.
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