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PSC puts $27M carrot before utilities
|The state Public Service Commission will reward utilities across New York if those electric companies can develop incentives to have customers improve energy efficiencies and cut usage. |
The six electric companies -- including National Grid and NYSEG, leading service providers in Western New York -- would collectively receive $26.96 million if energy consumption is reduced by 693,951 megawatt-hours (MWhs) each year. That coincides with the PSC's goal to cut energy usage by 15 percent by 2015. At current trends, by 2015 electric usage in New York state is estimated to be 11 percent higher than current levels.
"The unprecedented rise in energy prices we have seen in recent months is a call-to-action for utilities to find ways to improve energy efficiency and reduce energy consumption," said a statement from PSC Chairman Garry Brown.
The incentive before National Grid is to reduce MWhs by 223,270 in return for a payment of $8.67 million. NYSEG is targeted to reduce 97,769 MWhs for a maximum payout of $3.8 million.
The PSC said the money would only be paid if utilities meet the established goals.
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