TESTIMONY
PARTNERSHIP FOR NEW YORK CITY
by Kathryn Wylde
PRESIDENT & CEO
New York, New York
February 12, 2009
press release (PDF 144K)Statement to the Panel Conducting the Independent Saftey Evaluation of the Indian Point Energy Center
The Partnership for New York City represents the metropolitan region’s international business leadership and largest private sector employers. We work closely with government, labor and community organizations to maintain the region’s status as a world center of commerce, finance and innovation.
The Partnership urges the renewal of the operating license for the Indian Point Energy Center held by Entergy Nuclear Northeast. Entergy is a member of the Partnership and a superb corporate citizen, deeply engaged in civic affairs at the community, state and regional level. Entergy has supported such important causes as improving the environment, reducing our carbon footprint, expanded training and contracting opportunities for minority and women-owned business, and upgrading the region’s infrastructure. It has managed Indian Point with great concern for public welfare and provides the region with a safe, reliable, and clean source of power upon which we absolutely depend.
New York’s key industries – financial and professional services, media, information technology, health and real estate – all depend on the availability of reliable power. Our strong and redundant power supply system has long been a competitive advantage for attracting and keeping jobs in New York City. Confidence in our system was reinforced by the fast recovery from the 9/11 terrorist attack that eliminated a huge section of the Manhattan power grid. Without Indian Point, which provides 40% of New York City’s power supply, New York City would fall by the wayside as other emerging and mature cities around the world are becoming more and more effective in attracting multinational corporations.
Unfortunately, our highly competitive power system is in jeopardy as the future of Indian Point remains in question. Without Indian Point, demand will soon exceed the supply of electrical power. According to Con Ed, between 1997 and 2007 electricity demand in New York City and Westchester increased by more than 23%, setting a new record of 62,591 gigawatt hours of electricity consumption per year. Given the dependency of our power system on Indian Point, retiring its two units would cause power deficiencies and according to the 2009 Reliability Needs Assessment by the New York Independent Systems Operators, an “immediate violation of reliability standards if other resources are not available”.
While Federal Stimulus Recovery Package funds could aid New York in the development of new sources of renewable power, those new sources cannot be a substitute for Indian Point since demand on the system will continue to increase in the future. By 2030, it is projected that the city will add nearly 1 million new residents, three quarters of a million new jobs, and millions of new visitors. Our need for more power will only increase as the city grows. Without a realistic state energy strategy in place that includes Indian Point, there will not be enough power to continue to grow our economy.
The Partnership and its members have strongly supported state and local programs to reduce carbon emissions and to reduce energy consumption. We are committed to achieving Mayor Bloomberg’s goal of reducing carbon emissions in the City by 30% by 2030. As a clean source of power, the continued operation of Indian Point will help the city decrease its reliance on fossil fuels and achieve this important goal.
About the Partnership for New York City
The Partnership for New York City (www.pfnyc.org) is a network of business leaders dedicated to enhancing the economy of the five boroughs of New York City and maintaining the city’s position as the center of world commerce, finance and innovation. Partnership companies account for nearly 7 million American jobs and contribute over $740 billion to the national GDP.