Power Authority, New York
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Mission
As the nation’s largest state public power organization, the primary mission of the New York Power Authority (NYPA) is to power the economic growth and competitiveness of New York State by providing customers with low-cost, clean, reliable power, and the innovative energy infrastructure and services they value.
Budget Highlights
NYPA, through its subsidiary the Canal Corporation, will continue to maintain, operate, develop, and make capital improvements to the 524-mile navigable waterway, which includes 57 locks, 17 lift bridges, numerous dams, reservoirs, and water control structures.
The Executive Budget includes an appropriation of $7.5 million to support the Canal System Development Fund. Revenues collected from canal tolls and other user fees are deposited into the Canal System Development Fund and, in accordance with the State Constitution, used exclusively for the canals. In addition, the budget includes a $10.7 million reappropriation to sustain the Erie Canalway segment of the Empire State Trail.
The FY 2024 Executive Budget includes legislation which would extend NYPA’s authorization to supply market power and Renewable Energy Products. Additionally, the FY 2024 Executive Budget proposes separate legislation that would provide NYPA with the authority to plan, finance, construct, own, operate, maintain, and improve renewable energy generation projects. Furthermore, the legislation would: establish a program for customers in disadvantaged communities to receive bill credits generated by the production of renewable energy; require NYPA to create a plan for the phase out of small natural-gas "peaker" power plants; and make $25 million in NYPA funds available to fund training programs that prepare workers for employment in the renewable energy field. Both of these proposals will further the state’s mission to achieve the goals outlined in the Climate Leadership and Community Protection Act.
For more information on this agency's budget recommendations located in the Executive Budget Briefing Book, click on the following link:
Briefing Book – Environment and Energy (PDF)
For more information on this agency's budget recommendations located in the Executive Budget Briefing Book, click on the following link:
Briefing Book – Environment and Energy (PDF)
| Category | Available FY 2023 |
Appropriations Recommended FY 2024 |
Change From FY 2023 |
Reappropriations Recommended FY 2024 |
|---|---|---|---|---|
| State Operations | 43,000,000 | 0 | (43,000,000) | 0 |
| Capital Projects | 0 | 7,500,000 | 7,500,000 | 10,795,000 |
| Total | 43,000,000 | 7,500,000 | (35,500,000) | 10,795,000 |
| Fund Type | Available FY 2023 |
Recommended FY 2024 |
Change |
|---|---|---|---|
| General Fund | 43,000,000 | 0 | (43,000,000) |
| Total | 43,000,000 | 0 | (43,000,000) |
| Program | Available FY 2023 |
Recommended FY 2024 |
Change |
|---|---|---|---|
| New York Power Authority Asset Transfer Program | |||
| General Fund | 43,000,000 | 0 | (43,000,000) |
| Total | 43,000,000 | 0 | (43,000,000) |
| Program | Total | |
|---|---|---|
| Amount | Change | |
| New York Power Authority Asset Transfer Program | 0 | (43,000,000) |
| Total | 0 | (43,000,000) |
| Program | Maintenance Undistributed | |
|---|---|---|
| Amount | Change | |
| New York Power Authority Asset Transfer Program | 0 | (43,000,000) |
| Total | 0 | (43,000,000) |
| Comprehensive Construction Program | Available FY 2023 |
Recommended FY 2024 |
Change | Reappropriations FY 2024 |
|---|---|---|---|---|
| Canal Development | ||||
| New York State Canal System Development Fund | 0 | 7,500,000 | 7,500,000 | 0 |
| Empire State Trail | ||||
| Capital Projects Fund - Authority Bonds | 0 | 0 | 0 | 10,795,000 |
| Total | 0 | 7,500,000 | 7,500,000 | 10,795,000 |
Note: Most recent estimates as of 02/01/2023