Author: Administrator
Subject: First credits to offset portion of standy charges received from Con Edison
Posted: 30 Dec 2015 at 9:13pm
First credits to offset portion of standy charges received from Con Edison
Proving to Con Edison this past summer that Riverbay is a reliable source of electricity will be paying off for Coop City shareholders monthly throughout most of 2016.
The Co-op City Riverbay Power Plant proven reliability in 2015 earned the community a credit on the stand by fees charged by Con Edison for the utilities capacity to provide power to the development in case of a problem with Co-op City's power plant.
The first credits for October and November 2015 were awarded against the December standby charges of $219,999, reducing that bill to just $49,206. The credits will continue through October 2016.
"We would like to thank you for the reliable performance of your onsite generation during the measurement period. Through your participation in this program, we were able to reduce peak demand, relieve stress on our local distribution system and ensure that the customers of New York City and Westchester County continue to receive reliable electric service," Con Edison wrote in a letter to Riverbay this month.
This past summer's two successful tests by Co-op City proved the community's ability to participate in the program which rewards Riverbay for its ability to export into the grid during power emergencies.
In Co-op City's case, if needed, power will be exported to the Parkchester Network, one of 52 regional networks that fall under the jurisdiction and responsibility of Con Edison.
No such exporting was required this summer due in part to the relatively mild summer weather the entire region enjoyed, but nevertheless, Co-op City is being paid for proving its ability to take strain off the grid during times of need.
Riverbay will receive a total of $905,914 in total credits paid out in installments each month during 2016. The monthly standby fees charged by Con Edison are approximately $225,000 per month. The $76,000 monthly credit in 2016 represents an approximate 33% reduction in those monthly charges.
According to the current state law, Con Ed is allowed to charge companies that generate their own electricity like Riverbay, high fees claimed to be needed to pay for connection from Co-op City's power system to the Con Edison power system. Con Ed is the Riverbay Power Plant's backup in case of emergencies.
Riverbay was scheduled to pay roughly $2.4 million in standby charges to Con Edison over a 12 month period, but that bill was reduced by nearly one-third due to the new credits.
Riverbay keeps paying these so called "standby charges" each year for work that has already been done.
"Co-op City at its own expense installed all interconnection facilities, including relay protection and communication subsystems to the existing high voltage Con Edison distribution system network feeders," Riverbay wrote in its comments to the New York Public Service Commission in a filing several years ago. The standy charges have already been elimininated in New Jersey, Connecticut and Massachusetts.
By Jim Roberts
Co-op City Times in now online
Subject: First credits to offset portion of standy charges received from Con Edison
Posted: 30 Dec 2015 at 9:13pm
First credits to offset portion of standy charges received from Con Edison
Proving to Con Edison this past summer that Riverbay is a reliable source of electricity will be paying off for Coop City shareholders monthly throughout most of 2016.
The Co-op City Riverbay Power Plant proven reliability in 2015 earned the community a credit on the stand by fees charged by Con Edison for the utilities capacity to provide power to the development in case of a problem with Co-op City's power plant.
The first credits for October and November 2015 were awarded against the December standby charges of $219,999, reducing that bill to just $49,206. The credits will continue through October 2016.
"We would like to thank you for the reliable performance of your onsite generation during the measurement period. Through your participation in this program, we were able to reduce peak demand, relieve stress on our local distribution system and ensure that the customers of New York City and Westchester County continue to receive reliable electric service," Con Edison wrote in a letter to Riverbay this month.
This past summer's two successful tests by Co-op City proved the community's ability to participate in the program which rewards Riverbay for its ability to export into the grid during power emergencies.
In Co-op City's case, if needed, power will be exported to the Parkchester Network, one of 52 regional networks that fall under the jurisdiction and responsibility of Con Edison.
No such exporting was required this summer due in part to the relatively mild summer weather the entire region enjoyed, but nevertheless, Co-op City is being paid for proving its ability to take strain off the grid during times of need.
Riverbay will receive a total of $905,914 in total credits paid out in installments each month during 2016. The monthly standby fees charged by Con Edison are approximately $225,000 per month. The $76,000 monthly credit in 2016 represents an approximate 33% reduction in those monthly charges.
According to the current state law, Con Ed is allowed to charge companies that generate their own electricity like Riverbay, high fees claimed to be needed to pay for connection from Co-op City's power system to the Con Edison power system. Con Ed is the Riverbay Power Plant's backup in case of emergencies.
Riverbay was scheduled to pay roughly $2.4 million in standby charges to Con Edison over a 12 month period, but that bill was reduced by nearly one-third due to the new credits.
Riverbay keeps paying these so called "standby charges" each year for work that has already been done.
"Co-op City at its own expense installed all interconnection facilities, including relay protection and communication subsystems to the existing high voltage Con Edison distribution system network feeders," Riverbay wrote in its comments to the New York Public Service Commission in a filing several years ago. The standy charges have already been elimininated in New Jersey, Connecticut and Massachusetts.
By Jim Roberts
Co-op City Times in now online
