The New York Power Authority (NYPA), the statewide public-power utility, on Wednesday announced an updated strategic plan, which includes the state’s power infrastructure.
The plan, entitled Strategic Vision 2014-2019, focuses on providing “more value” to NYPA’s customers and building on its role as a “responsible” steward of its assets, including the state’s hydropower resources, NYPA said in a news release.
The energy industry is in the early stages of “transformative” change that will alter the way our customers generate, deliver, and use electric power, John Koelmel, chairman of the NYPA board of trustees, said in the news release.
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“The Power Authority has issued its updated strategic plan to reflect how it must also change, adapt, and lead moving forward,” Koelmel said.
Onondaga County Executive Joanie Mahoney serves as the vice chair of the NYPA board of trustees.
In its plan, NYPA discusses efforts to work with its customers to understand their energy and business requirements, further reduce their energy costs, strengthen system resiliency, and meet environmental and sustainability goals, the authority said.
It also plans to increase efforts to modernize its generation and transmission infrastructure, building on Gov. Andrew Cuomo’s Energy Highway Blueprint and his other energy initiatives.
“By making our infrastructure more flexible, resilient and connected, we will be ready to accommodate newer, evolving technologies to meet the energy challenges faced by our customers and support Gov. Cuomo’s efforts to transform and modernize the state’s electric-power system,” Gil Quiniones, president and CEO of NYPA, said in the news release.
Its by-laws require NYPA to annually review and update its strategic plan and mission statement, the authority said. Both serve to guide the development and implementation of all NYPA operations, including the annual budget and capital-expenditure plan.
The New York Power Authority uses no tax money or state credit. It finances its operations through the sale of bonds and revenues earned “in large part” through the sale of electricity, NYPA said.
Contact Reinhardt at ereinhardt@cnybj.com
