Earlier today, Gov. Andrew Cuomo signed into law Senate Bill 4948A, which directs the New York Power Authority to conduct audits of entities that receive power allocations or monetary payments associated with a relicensing agreement. All beneficiaries of power or money associated with these agreements are required to fully cooperate and, once the audit is complete, NYPA is then required to report their finding to the governor and Legislature.
"NYPA has provided over $208 million in benefits to companies, as well as over 32 mw of low-cost hydropower, saving some recipients as much as 75 percent of their energy costs," said State Sen. George D. Maziarz, chairman of the Senate Energy and Telecommunications Committee, and prime sponsor of this legislation. "These benefits are an investment in Western New York's economy, and therefore it is essential that the resources are being used effectively and in the right way."
Some groups, particularly the Niagara Greenway Commission and some municipalities and public entities, have raised questions recently over the use of these funds. Prior to this legislation, NYPA did not have the authority on its own to conduct full audits of the recipients.
"This legislation (gives) NYPA the authority to audit these groups, ensuring that taxpayers are provided with the transparency and accountability that they deserve," Maziarz said.