Senator Jim Wright

December 21, 2007

SENATOR WRIGHT APPLAUDS ALCOA/ NYPA DEAL

Senator Jim Wright, who is Chairman of the Senate Committee on Energy and Telecommunication, today applauded the agreement that has been reached between the New York Power Authority and Alcoa on a long-term power contract, which will protect 900 jobs and ensure adequate low-cost power will continue to be earmarked for the aluminum manufacturing company.

“This agreement not only provides for the continued availability of low-cost power to Alcoa, but it also ensures that hundreds of well-paying jobs will remain in St. Lawrence County,” said Senator Wright. “As the Massena area works to overcome recent setbacks at GM, this agreement is good news for the economy and the community. I am pleased that both sides were able to come together on an agreement that ensures the viability of Alcoa’s plant here in the North Country.”

As part of the deal between NYPA and Alcoa, Alcoa will continue to receive 478mw of low-cost hydro power, while pledging to invest $600 million in its Massena plant. For the first time, electrical rates will be tied to the price of the aluminum commodity.

“I commend Alcoa for making a commitment to the North Country, as well as Roger Kelley and Frank McCullough of NYPA and Dan Gunderson, Upstate Chair of Economic State Development Corporation, for getting this deal done, as it will go a long way toward retaining jobs in the region and encouraging new economic development opportunities,” added Senator Wright.

Senator Wright went on to say, “This historic agreement is truly a state and community partnership, which has been worked on over two administrations. I appreciate Governor Spitzer’s personal commitment to ensuring Alcoa stays in the North Country. To all the organized labor leaders, community officials and local officials—a huge thank you. Without your steadfast commitment, this could not have been achieved. Now everyone can enjoy their families during the holidays knowing the economic future of the region has been anchored for decades to come.”

Senator Wright has long advocated for the preservation of power in the North Country. In 2005, he authored legislation that preserves locally generated electricity and ensures it continues to be available to regional industrial customers, instead of being sold downstate.

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