July 2021 - Quarterly Market Letter
On behalf of the team at 5, I am pleased to forward our market letter for the second quarter of...
ReCharge NY is a major economic development award in New York State where qualified businesses and non-profits can lower their electricity costs through low-cost power from the New York Power Authority (NYPA). NYPA, which owns and operates hydroelectric generation and other power plant assets throughout New York State, allocates electricity from these assets for businesses in exchange for maintaining or expanding their operations in the state. Qualifying companies and entities must apply for this NYPA allocation and subsequently, adhere to the commitments that accompany the award.
5 works with clients in New York State to submit their ReCharge NY application, in addition to helping each client understand the commitments they are making by participating in the program. If a ReCharge NY application is accepted, a portion of a client’s electricity usage will receive an NYPA hydropower allocation at a rate that is significantly lower than utility and market-based rates. A successful ReCharge NY allocation will materially decrease a client's electricity supply costs for the duration of the award. To date, 5 has a 100% success rate in receiving award allocations for our clients.
Contact Us to learn how the ReCharge NY program fits into a customized Whole Health Energy Plan for your business.