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POWER AUTHORITY CONSIDERS FITZPATRICK RATE INCREASE

POWER AUTHORITY CONSIDERS FITZPATRICK RATE INCREASE
 NEW YORK, Sept. 30 /PRNewswire/ -- New York Power Authority trustees are considering an increase in industrial rates for electricity produced at the James A. FitzPatrick Nuclear Power Plant near Oswego.
 The trustees, meeting here Wednesday, authorized a public forum on the proposed rates, which would become effective Jan. 1, 1993. The forum will be held at 10 a.m., Thursday, Nov. 12 at the Power Authority offices on the 21st floor of 1633 Broadway, New York City.
 The proposed rates, which would increase revenues by about $2.7 million a year, are part of a gradual effort to reduce a revenue shortfall at the FitzPatrick plant while holding average annual rate increases to about 2-1/2 percent.
 FitzPatrick industrial power sales are intended to create and protect jobs in New York State, so every effort is made to restrain rates. About 60,000 jobs throughout the state depend on FitzPatrick power.
 The proposed increase, the first in two years, is 5 percent, in keeping with the 2-1/2-percent annual target.
 The cost of the power, not including delivery charges, will increase from about 4.3 cents per kilowatt hour (kwh) to about 4.5 cents per kwh for a medium usage customer.
 Industries receiving FitzPatrick power will continue to enjoy substantial savings compared with private utility rates. For example, a customer in the Con Edison service area in New York City and Westchester County with heavy electricity use would save about 22 percent under the new rates compared with about 24 percent currently. Savings would be less for a business with relatively low power use, but would be about 11 percent as opposed to the current 13 percent.
 The Nov. 12 public forum will be held under Power Authority procedures calling for such sessions on proposed rate increases of more than 2 percent.
 -0- 09/30/92
 CONTACT: Jack Murphy of New York Power Authority, 212-468-6319 CO: NEW YORK POWER AUTHORITY IN: UTI ST: NY -- NY061 -- X568 09/30/92
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Publication:PR Newswire
Date:Sep 30, 1992
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