FOR IMMEDIATE RELEASE
October 3, 2006
MAYOR BLOOMBERG'S STATEMENT ON LEGISLATION PREVENTING NEW YORK REGIONAL INTERCONNECT FROM EXERCISING EMINENT DOMAIN RIGHT
"I am disappointed that Governor Pataki signed legislation today aimed at prohibiting New York Regional Interconnect from exercising its right of eminent domain to build a power transmission line. This company only recently initiated its Article VII application with the Public Service Commission, and this legislation attempts to undermine a reasoned examination of the project's expected benefits. This bill would effectively pre-empt the State, through the Public Service Commission, from evaluating the pros and cons of the proposal. In addition, this legislation will send a signal to capital market participants, who otherwise would invest in energy infrastructure, that local opposition could be used to stop a potentially beneficial project even before it has an opportunity to be considered on the merits."
Stu Loeser/Jennifer Falk (212) 788-2958