ALBANY— “It is vitally important that the state Senate find a way to come together and extend the Power for Jobs and Energy Cost Savings Benefit Programs before they expire on July 1,” said Kenneth Adams, president and CEO of The Business Council of New York State. “Nearly 600 companies employing more than 300,000 New Yorkers rely on these programs to make their New York operations affordable.”
If the programs expire some New York manufacturers and commercial facilities will see an immediate spike in their power rates. The impact will vary based on the size and benefit the business is receiving. But, cost increases will range from several thousand dollars per month for smaller facilities to more than a million dollars a year for large manufacturers.
The Business Council noted that the cost of industrial power in New York State is already 40 percent higher than the national average and the cost of commercial power is 65 percent higher than the national average. The loss of these programs will make New York even less competitive with other states.
“Losing this cost-saving program in the middle of a deep recession would be a terrible blow to these businesses. In addition to the immediate impact it would also send a terrible message about doing business in New York that could damage ongoing efforts to create jobs and capital investment in the state,” said Adams.
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