William Opalka for RTO Insider:
Under the new proposal, Cayuga would have NYSEG contribute $49.5 million toward the plant construction and another $96 million over the next 10 years.
The deal faces opposition from locals and environmentalists, as well as the authors of an economic analysis.
“If Cayuga’s revised repowering proposal is approved, by the 2027 end of the 10-year repowering period, NYSEG customers will have paid more than $265 million to keep the plant operational. There also is a serious risk that ratepayers will be called upon to provide continued subsidies to the facility even after the 10-year term of the proposal ends,” said the Institute for Energy Economics and Financial Analysis in its report.