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NYSEG AND KAMINE/BESICORP CANCEL SOUTH CORNING COGENERATION PROJECT

 BINGHAMTON, N.Y., Dec. 23 /PRNewswire/ -- New York State Electric and Gas Corporation (NYSEG) (NYSE: NGE) has entered into an agreement with Kamine/Besicorp Corning L.P. and its affiliates to terminate the power purchase agreement (signed May 11, 1990) for the South Corning Cogeneration Project.
 Kamine/Besicorp will accordingly cease to develop the 79,000- kilowatt plant in South Corning that would have supplied steam heat to a greenhouse and produced electricity for NYSEG. Kamine/Besicorp's plan had been to start building the facility early next year and have it begin commercial operation in late 1994. Additional details regarding the termination agreement are expected to be disclosed within a month. This termination is the result of NYSEG's voluntary Request for Proposals that was submitted to various non-utility generations on May 11, 1992, and subsequent negotiations between the parties.
 "We are terminating this power purchase agreement because we do not need the electricity this South Corning plant would produce. Our goal is to protect our customers from having to pay for power they don't need which would also increase their rates," said Brian Eldridge, NYSEG spokesman.
 "Kamine/Besicorp entered into this termination agreement with NYSEG for prudent business reasons. As a result, we will discontinue all future activities on this South Corning Project," said Steve I. Eisenberg, senior vice president, Besicorp Group, Inc. (Kamine/Besicorp spokesman.) "This agreement does not affect the ongoing activities of other cogeneration projects which Kamine/Besicorp affiliates are engaged in."
 -0- 12/23/92
 /CONTACT: Ken B. Hooper of New York State Electric and Gas Corporation, 607-762-4407/
 (NGE)


CO: New York State Electric and Gas Corporation;
 Kamine/Besicorp Corning L.P. ST: New York IN: OIL SU:


KE -- CL008 -- 9691 12/23/92 16:18 EST
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Publication:PR Newswire
Date:Dec 23, 1992
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