Governor Cuomo has 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 the federal relicensing agreement. All beneficiaries of power or money associate 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% of their energy costs,” said Senator 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.”
Questions have been raised recently over the use of these funds by some groups, particularly the Niagara Greenway Commission and some municipalities and public entities. Prior to this legislation, NYPA did not have the authority on their 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.”