Every business requires energy to operate and it comes as no surprise that New York’s high energy costs are a major barrier to job creation and a significant contributor to our state’s high cost of doing business (NY ranks 2nd nationally). Energy costs rank among the biggest concerns of NFIB members year after year. The 2010 Small Business and Entrepreneurship Councils’ study ranked New York 48th in terms of energy costs. For these reasons, NFIB was pleased to successfully advocate the enactment of the Recharge New York Program.
Prior to the Recharge New York program being finalized in 2011, New York operated by way of annual extenders under an economic development power program called ‘Power for Jobs’. This new version creates a permanent energy program, which will provide a much needed operating cost reduction for small businesses across the State, by providing low cost electric power and long-term renewable contracts. Small businesses committed to maintaining jobs, wages and investments in New York were able to apply for low cost power benefits, through competition, for a dedicated pool of power.
The first round of Recharge New York allocations were released by the New York Power Authority (NYPA) on April 25th. Over 1,000 entities applied for allotments of the lower cost power and nearly 600 megawatts were awarded to over 400 businesses in return for their retention of thousands of jobs and billions of dollars in capital investments. NYPA generally awarded business applicants 50% of the requested allocation or 50% of their historic demand, whichever is less and capped the allotment at 10 megawatts per applicant.
NFIB/NY is pleased to announce that NFIB members from all regions of New York were among those approved for the first round of Recharge New York allocations and we encourage more of our members to apply and take advantage of this program.
For more information on the Recharge New York program and to apply for access to future reduced power allotments, visit the Recharge New York website at: http://www.nypa.gov/RechargeNY/default.htm