Merge N.Y. Utilities, Says Sithe
Sithe Energies Inc. claims that its restructuring proposal, "Energizing New York," would save ratepayers $15 billion over 10 years, while creating a favorable environment during the transition to competition. The proposal would:
s Merge the state's seven investor-owned utilities, perhaps into one upstate and one downstate utility
s Postpone retail wheeling for five years, or until the state's overcapacity issue is resolved
s Refinance certain utility assets with longer-term public debt
s Allocate up to 300-megawatts of low-cost power by independent power producers for up to 10 years for economic development purposes
s Establish a panel to determine whether certain nuclear plants should be shutdown.
Articles found on this page are available to Internet subscribers only. For more information about obtaining a username and password, please call our Customer Service Department at 1-800-368-5001.