Energy Committee Update
April 1, 2010

Staff Contact: Darren Suarez

Energy Tax Update

Power for Jobs Update

There are now four separate bills to create a long term replacement for the Power for Jobs and Economic Development Power programs; the Administration has issued a program bill, and Senator Aubertine, Senator Maziarz and Assemblyman Cahill have all introduced separate proposals.

Based on input to date, we believe the Administration’s proposal is the best framework for legislative negotiations. The Administration is attempting to include this issue in the ongoing budget negotiations.

The bills share several basic components:

Please feel free to contact m for further details, or to discuss these legislative proposals.

Revised RGGI Operating Plan

Earlier this month, NYSERDA’s board approved revisions to their “RGGI Operating Plan,” which guides the spending of $446 million in projected proceeds from RGGI CO2 allowance sales over the next three years. The plan summary is available here; a complete revise operating plan will be posted by June.

The major change in the adopted plan, compared to NYSERDA’s December 2009 draft revision, is that a $12 million allocation for an industrial energy efficiency program was eliminated, and replaced with a $15 million industrial sector “greenhouse gas reduction” competitive grant program. NYSERDA says that it will likely to issue an RFP for this program by June 2010.

Compared to the initial operating plan adopted in April 2009, this final plan had its overall funding reduced from $525 million to $301 million, and included a dramatic shift of funding to residential programs at the expense of industrial and commercial programs.