Insight on New York’s Clean Energy Standard and the New Costs Impacting Customers
June 06, 2017
The Clean Energy Standard, approved in August by the New York Public Service Commission and backed by Governor Andrew Cuomo, mandates that 50 percent of the electricity used in the state be generated by renewable sources by 2030 – up from the previous target of 30 percent by 2020. It also commits to providing subsidies to prop up uneconomic nuclear generation plants located in upstate New York for the next 12 years.
Two critical components of the policy – a Renewable Energy Standard and Zero-Emissions Credits – are designed to turn the state’s ambitious goals into reality. They’re also resulting in new costs that suppliers must now pass on to customers.
Travis Arnce, Director of Supply for ISO-NE and NYISO at ENGIE Resources, shares key insights on the Clean Energy Standard and the new charges being assessed on ratepayers in this brief video.
It’s important to note that as a leading retail load-serving entity in New York, ENGIE Resources supports the intent of the Clean Energy Standard. At the same time, however, we also hope that the legitimate policy concerns that have emerged – including whether ratepayers should have to subsidize struggling generation facilities – receive due consideration from regulators and other policy makers.
For more information on the Clean Energy Standard, view the state’s fact sheet. The New York State Public Service Commission’s final order (and appendices), dated August 1, 2016, adopting the Clean Energy Standard, can be viewed here.