New York's Governor Spitzer announced today a major plan to cut New York's energy consumption 15% from levels predicted by 2015 -- an energy reduction level that is reportedly more aggressive than any other state's plan to reduce global warming. Specifically, the plan will meet increased demand by implementing aggressive peak energy load reductions rather than by building new plants. Elements of the plan include:
1) More efficient buildings and appliances with new legislation setting standards for inefficient appliances.
2) State agency approval of 21 contracts for renewable energy power plants delivering 800 MW of electricity that will replace heavily polluting plants (expected to be completed by 2008).
3) Breaking the gridlock on passage of Article X, New York's power plant siting law, that will speed construction of clean plants.
4) Supporting long term contracts between developers of power plants and utilities, that hopefully will provide enough expected revenues for investors to support new plant construction.
5) New York Public Service Commission agrees to the concept of decoupling that will allow utilities to make money even when utilities impose energy conservation mechanisms.
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