The New York Power Authority, the statewide public power utility, on Tuesday issued its updated strategic plan, titled "Strategic Vision 2014-2019." It focuses on helping New York state's economy grow by providing more value to NYPA's customers and building on its historic role as a responsible steward of its assets, including the state's hydropower resources.
"The energy industry is in the early stages of transformative change that will dramatically alter the way electric power is generated, delivered and used by our customers," said John R. Koelmel, NYPA chairman. "The Power Authority has issued its updated strategic plan to reflect how it must also change, adapt and lead moving forward."
As reflected in the strategic vision, NYPA is dedicated to working closely with its customers to better understand their energy and business requirements, further reduce their energy costs, strengthen system resiliency and meet environmental and sustainability goals. The Power Authority will also increase its efforts to modernize its generation and transmission infrastructure, building on Gov. Andrew M. Cuomo's "Energy Highway Blueprint" and his other energy initiatives.
"What you will see in the pages of our strategic vision is more focus on our customers and how to serve their needs in the increasingly dynamic energy marketplace," said Gil C. Quiniones, NYPA president and CEO. "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."
Quiniones cited the Power Authority's double-A credit rating, unique generation and transmission assets across the state, and long history of achievement in customer-side energy services as strengths for helping turn uncertainty in the industry into opportunity and to deliver still-greater benefits to the people and businesses of New York.
NYPA plans to build on the strengths of its workforce to become even more responsive to the needs of customers.
The Power Authority, as required by its bylaws, has for many years annually reviewed and updated, as necessary, its strategic plan and mission statement, which was also updated this year. Both serve to guide the development and implementation of all NYPA operations, including the annual budget and capital expenditure plan. Also, the Public Authorities Law requires state authorities, like NYPA, to develop and adopt a mission statement.
NYPA's mission has evolved significantly since its inception in 1931, yet key themes have remained constant. These include low-cost power, environmental awareness, economic development and reliability.
Recognizing those themes and expanding the emphasis to further support the future needs of NYPA's customers, the updated mission statement reflects NYPA's core functions, and reads as follows: "Power the economic growth and competitiveness of New York State by providing customers with low-cost, clean, reliable power and the innovative energy infrastructure and services they value."
The strategic vision, with the updated mission statement, outlines a "vision, values, corporate strategic goals and strategic initiatives" showing how NYPA will continue to work to enhance energy infrastructure and economic development.
NYPA's "Strategic Vision
2014-2019" can be accessed at http://www.nypa.gov/PDFs/