Thirty-Nine Businesses Awarded Low Cost Electricity through Re-Charge New York Program

Fourth round grant winners announced

December 21, 2012

Albany, NY – Assemblymember Kevin A. Cahill (D- Ulster, Dutchess) announced today that the New York Power Authority has approved a fourth round of ReCharge NY grants. The awards will spark $681 million worth of capital investments statewide.

The ReCharge NY was first introduced in 2011 by Cahill and passed later that year as part of the state budget bill. The program was formed to create jobs and encourage new capital investment by New York businesses and requires recipients to become more energy efficient in exchange for an award. ReCharge replaced the long problematic Power for Jobs program that failed to promote energy efficiency and had not extended benefits to new businesses for some time.

“Energy costs represent a significant expense to many small businesses across the state,” said Cahill. “The ReCharge NY Power allocations, recently approved by NYPA, will provide meaningful and stable assistance to help meet the current and future energy needs of many businesses. The Assembly has been working hard to make our power program equitable, effective, and modern. This allocation is a good example of that.”

The first three rounds of awards under program were presented earlier this year and gave 700 MW of power to 579 businesses and 73 not-for-profit organizations. The energy comes primarily from hydro electric resources generated by the New York Power Authority and is awarded in contracts which can last up to seven years.

“High electricity costs no longer stand in the way of businesses investing in New York," said Assemblymember Cahill. "ReCharge New York represents a new approach to helping employers meet their energy needs while providing New Yorkers with the assurance that their resources are being used efficiently and effectively.”

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