Nov 7
2018
Slowdown in Power Authority subsidy programs
It’s an unusual problem: subsidy programs that can’t find takers. The New York Power Authority has two of them in Western New York. One provides low-cost hydropower to local industry, but a quarter of the pool of electricity lacks for customers and is sold on the wholesale market. The profits from the sale of this unallocated power are earmarked for a program that funds business activity and community projects throughout Western New York. But that money hasn’t been in high demand recently, either. Roughly $4 million sits, unused, in the fund and the board in charge of awarding the money[...]