The New York Power Authority's Board of Trustees has approved a proposal to cut electric rates by $780,000 for the Power Authority’s Westchester governmental customers.
The more than three percent decrease is the result of expected declines in market energy prices and it will be effective with January 2021 electric bills, NYPA said on Jan. 27.
NYPA noted that it works with its customers to obtain power supplies from NYPA generating plants and arrange economical power purchases from the wholesale energy market. NYPA generation, contracted generation and power purchases save customers millions of dollars a year on electric bills compared to the cost of securing power from local utilities, it said.
NYPA also partners with governmental customers on major energy efficiency and clean-energy initiatives to lower their power bills and operating costs.
Since 2019, NYPA has completed energy efficiency projects with Westchester governmental customers for an installed cost of more than $25.8 million. The upgrades will also reduce annual greenhouse gas emissions by about 4,700 tons, the equivalent of removing nearly 3,400 cars from the road.