Gov. David Paterson says the lack of agreement in Albany will mean a 13-year-old program that provides discounted electricity to employers to protect jobs will end Saturday.
The result will be significantly higher power costs for 500 companies, hospitals and institutions statewide beginning Sunday. The benefit over a year can be tens of thousands of dollars.
Deputy Secretary for Energy Tom Congdon says that for many, the benefit is equal to the cost of keeping an employee on the payroll.
The Senate and Assembly continue to negotiate a resolution with Paterson to change and make permanent the program called “Power for Jobs.”
Congdon says today that although the program has lapsed and been renewed several times in the past, this time it won’t be temporarily extended.