Rep. Tom Reed highlighted today a local utility plant report concluding how plentiful natural gas reserves can help lower utility rates for consumers, including homeowners and manufacturers.
"As evidenced by the Dunkirk NRG utility plant, our ability to access this clean-burning fuel will help provide cheaper electricity rates from natural gas fired generators, lowering costs for home heating and attracting manufacturers to the area," Reed said. "Simply put, this means more money in people's pockets."
According to the Energy Information Administration, over 60 percent of the natural gas consumed in the United States is used in residential, commercial and industrial applications.
"Providing more natural gas to the markets will help get the American economy moving and bring manufacturing industries back to our region. By providing lower energy costs to manufacturers, they will have the ability to expand their businesses and add more jobs."
Reed pointed to a recent study by the Longwood Energy Group LLC which determined that repowering the NRG facility in Dunkirk from coal to natural gas could lower electricity costs for New Yorkers by up to 5 percent. In addition, repowering the facility will save the current jobs and add thousands more over the next ten years.
"New York's electricity prices are among the highest in the nation," Reed continued. "A five percent decrease in electricity prices will help homeowners and businesses in the region feel some relief on their utility bills," Reed continued. "This is a jobs and economics issue. Lowering utility costs will help attract manufacturers back to New York State, as utility rates make up a substantial portion of their bottom line."