Minutes of the Annual Meeting of the Power - New York Power ...

April 24, 2007
“It is also recommended that the Senior Vice President – Marketing and Economic Development, or her
designee, be authorized to issue written notice of the final action, including a copy of the revised tariff leaves, as
necessary, to the affected customers.
“The Executive Vice President and General Counsel, the Executive Vice President and Chief Financial
Officer, the Senior Vice President – Marketing and Economic Development, the Vice President – Controller, the
Vice President – Finance, the Director – Business Power Allocations, Compliance and Municipal and Cooperative
Marketing and I concur in the recommendation.”
Ms. Brown presented the highlights of staff’s recommendations to the Trustees. In response to
questions from Trustee Seymour, Mr. Russak said that the four-year 2003 rate plan, which is coming to an end
on April 30 th , had provided for an increase in rates each year from 2003 on. Mr. Russak said that prior to 2003,
the hydroelectric preference power rates had been fixed for a number of years. He said that the bulk of the rate
increases reflected in the new rate plan was attributable to the Niagara relicensing process and that plant
upgrade costs also contributed to the increase. Responding to another question from Trustee Seymour, Mr.
Russak said that staff would be assessing the need for additional rate increases beginning with the 2009-10 rate
year.
The following resolution, as submitted by the President and Chief Executive Officer, was unanimously
adopted.
WHEREAS, on January 30, 2007, the Authority authorized the
Secretary to file a Notice of Proposed Rulemaking for publication in the
New York State Register of its intention to increase the hydroelectric
Preference Power rates; and
WHEREAS, such notice was duly published in the State Register on
February 14, 2007 and more than 45 days have elapsed since such
publication; and
WHEREAS, a Public Forum was held on March 22, 2007 and staff
has received and responded to comments and data requests as set forth in
the attached Final Rate Modification Plan; and
WHEREAS, the proposed rate action should be modified, in
accordance with the changes contained in the foregoing report of the
President and Chief Executive Officer, and as explained in detail in the
Staff Analysis contained in Appendix “8-A”;
NOW THEREFORE BE IT RESOLVED, That the rates for sale of
power and energy to hydroelectric Preference Power customers, as
recommended in the foregoing report of the President and Chief Executive
Officer, are hereby approved effective May 1, 2007; and be it further
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