The New York Public Service Commission has authorized Niagara Mohawk Power Corp., to set up an emissions reduction credit pool to assist economic development efforts in the state.
It also approved the utility's plan to fund the pool with more than $700,000 of existing deferred credits owed to ratepayers from previous sales of sulfur-dioxide allowances.
The company plans to sell the credits at market value and as part of special discount electric service tariff offerings. The PSC cautioned Niagara Mohawk not to use the funds to "interfere with the developing market for the supply of generation." Re Niagara Mohawk Power Corp., Case 96-E-1155, May 29, 1997 (N.Y.P.S.C.).
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