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Gov. Cuomo Hopes Cutting Energy Costs Will Spur Economy

Office of N.Y. Gov. Andrew Cuomo

New York Governor Andrew Cuomo has approved a series of low-cost power allocations that aim to support over 10,000 new jobs across the state.

By providing nearly 25 megawatts of low-cost hydroelectric power to businesses, the ReCharge NY program expects its latest allocations will promote over $700 million in capital investment.

Around $174 million of investment is expected from Long Island, where around 4,000 kilowatts are being allocated.

According to New York Power Authority Chairman John Koelmel, the ReCharge NY program is already reducing energy costs for more than 760 businesses and nonprofits statewide.