New York

IEEFA Research

IEEFA update: Andrew Cuomo got it right on New York’s fracking ban

Despite opponents’ fears, ban likely saved investors billions

New York State, under the leadership of Governor Andrew Cuomo, instituted a ban on hydraulic fracturing (fracking) in 2014. Not surprisingly, the ban was hotly contested. Opponents had portrayed fracking as a silver bullet that would create jobs and promote economic development.  They predicted the state’s citizens would regret Cuomo’s decision. A retrospective analysis of […]

Opportunity Knocks With Closing of Coal-Fired Power Plant in Upstate New York

Opportunity Knocks With Closing of Coal-Fired Power Plant in Upstate New York

Potential Makeover of Tonawanda's Economy May Serve as a National Model

When we published our report about the fading financial viability of the aging Huntley Generation Station in early 2014, the facts showed the facility was all but destined to close. It had marginal usefulness for the region it was built to serve, and the financial drain it placed on NRG, the owner, would be borne […]

September 3, 2015 Read More →
Losing Proposition – Why the Proposal to Repower the Cayuga Plant Should Be Rejected

Losing Proposition – Why the Proposal to Repower the Cayuga Plant Should Be Rejected

Losing Proposition – Why the Proposal to Repower the Cayuga Plant Should Be Rejected 

August 23, 2015 Read More →
Report: FirstEnergy Seeks a Subsidized Turnaround

Report: FirstEnergy Seeks a Subsidized Turnaround

FirstEnergy: A Major Utility Seeks a Subsidized Turnaround (pdf) By Tom Sanzillo, Director of Finance and Cathy Kunkel, Fellow Institute for Energy Economics and Financial Analysis

October 6, 2014 Read More →
Report- Huntley Generating Station: Coal Plant’s Weak Financial Outlook Calls For Corporate And Community Leadership

Report- Huntley Generating Station: Coal Plant’s Weak Financial Outlook Calls For Corporate And Community Leadership

Huntley Generating Station: Coal Plant’s Weak Financial Outlook Calls For Corporate And Community Leadership (pdf)      

January 28, 2014 Read More →

More News and Commentary

Four bidders vying for New York’s first offshore wind contract

Reuters: New York State said on Thursday it had received proposals from Norway’s Equinor and three joint ventures to build its first offshore wind power park of at least 800-megawatt capacity. The three joint ventures are Bay State Wind, between Danish Orsted and Eversource Energy; Atlantic Shores Offshore Wind, consisting of France’s EDF and Shell; […]

February 15, 2019 Read More →
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IEEFA update: Andrew Cuomo got it right on New York’s fracking ban

Despite opponents’ fears, ban likely saved investors billions

New York State, under the leadership of Governor Andrew Cuomo, instituted a ban on hydraulic fracturing (fracking) in 2014. Not surprisingly, the ban was hotly contested. Opponents had portrayed fracking as a silver bullet that would create jobs and promote economic development.  They predicted the state’s citizens would regret Cuomo’s decision. A retrospective analysis of […]

Gov. Cuomo pushes major renewable energy effort in New York

Greentech Media: New York Governor Andrew Cuomo announced the launch of a “Green New Deal” initiative Tuesday, responding to pressure for bold climate action from progressives and clean energy advocates. The plan, outlined in Cuomo’s 2019 Justice Agenda, calls for a “globally unprecedented” ramp-up in renewable energy deployments as New York seeks to achieve 100 […]

January 16, 2019 Read More →
IEEFA U.S.: A sea change in American offshore wind
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IEEFA U.S.: A sea change in American offshore wind

Up and down the East Coast, initiatives to develop a massive and largely untapped market

The big lease sales ($405 million) last month in coastal waters off Massachusetts for three federally owned tracts that didn’t sell at an auction in 2015 signal a sea change in how U.S. offshore wind generation potential is now perceived. The winners of that auction, who emerged after 32 rounds of bidding over two days, […]

and January 9, 2019 Read More →

New York regulators approve state’s 3GW, 2030 storage goal

PV Magazine: New York Governor Andrew M. Cuomo has announced that an initiative to dramatically increase the state’s energy storage targets has been approved by the New York State Public Service Commission. With the initiative’s passing, the state is now on a trajectory to deploy 1.5 GW of energy storage by 2025, before doubling and […]

December 17, 2018 Read More →

New York begins bidding process for 800MW of offshore wind

Associated Press: New York has kicked off the competition for the state’s first large-scale offshore wind development contracts. Gov. Andrew Cuomo said Thursday the solicitation seeking 800 megawatts or more of new offshore wind projects is an initial step toward the state’s goal of 2,400 megawatts of offshore wind by 2030 to combat climate change. […]

November 9, 2018 Read More →
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IEEFA update: How should shareholders react to New York’s ExxonMobil lawsuit?

Time to hold management accountable

Acting New York State Attorney General Barbara Underwood has sued ExxonMobil for fraud, alleging the company misled investors about how its current and future profitability was—and will be—shaped by climate change. The Attorney General’s case tests legal compliance. ExxonMobil shareholders face a different test. The lawsuit charges that ExxonMobil, in effect, kept at least two […]

and October 29, 2018 Read More →

Con Ed, Johnson Controls launch storage JV

Renewables Now: Consolidated Edison Inc., or Con Edison, announced today that its clean energy arm will create an energy storage joint venture with Johnson Controls International Plc. The purpose of this move is to expand the market for the technology developed over the past several years by Johnson Controls, the announcement says. Consolidated Edison Solutions […]

October 1, 2018 Read More →

New York City doubles renewable energy investment

Associated Press: New York City plans to double the share of its pension fund invested in renewable energy, energy efficiency and other industries that aim to combat global warming. Mayor Bill de Blasio and city Comptroller Scott Stringer announced the new goal Thursday. Now, about $2 billion of the city’s $195 billion in pension funds […]

September 14, 2018 Read More →

New York’s ambitious offshore wind plans can benefit from advances in Europe

Greentech Media: New York state will look to the world leader in offshore wind deployment for advice on how to connect sea-based projects to mainland grids. European nations have together installed nearly 16,000 megawatts of offshore wind capacity. The United States has thus far managed just one 30-megawatt project, the Block Island Wind Farm, off Rhode Island. […]

August 31, 2018 Read More →