Economic benefits of power project worth billions

Re “PSC should reject Champlain Hudson power plan,” June 30 Community View:

The fact of the matter is that the Champlain Hudson Power Express project will bring 1,000 megawatts of clean, low-cost energy to the New York metro area. In the process, it will lower energy prices for consumers, create jobs, strengthen the state’s energy infrastructure and provide millions of dollars to local governments in the form of new property taxes.

Unlike traditional transmission projects, the CHPE project is not being financed by ratepayers (in the form of higher electric rates) but rather by the private sector. The CHPE project is termed a “merchant” project, which means that the developers are responsible for finding financing and the customers needed to make the project an economic success. If we are not able to do this, the CHPE project will not go forward.

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