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Schumer: NYRI's Rate Reimbursement Is 'Money Grab'

Submitted by Dan Hendrick on Thu, 2008-04-10 21:06.

Despite concerns that its route is not the most economic option, NYRI says it has submitted alternatives for government consideration.Despite concerns that its route is not the most economic option, NYRI says it has submitted alternatives for government consideration.Saying that New York Regional Interconnect is seeking a "greedy money grab," Sen. Charles Schumer is asking the federal government to deny the company's application for a rate reimbursement.

According to the Middletown Times Herald-Record, the company is seeking subsidies for the $2 billion electric corridor from the Federal Energy Regulatory Commission. The line would pass through Orange and Sullivan counties.

The subsidies would include a 13.5 percent return for investors. NYRI is seeking them under rules set up by the Energy Policy Act of 2005.



NYLCV Blog | Filed Under: Energy,Hudson Valley
 

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