A number of factors, some local and some national, are contributing to the difficulties New York State's power sector faces, according to a report published Tuesday by Standard & Poor's Ratings Services.
"Anyway you look at it, New York's power sector is going through tough times," comments Standard & Poor's credit analyst Trevor J. D'olier-Lees. "The capacity payments issue may be clarified once the Federal Energy Regulatory Commission announces its decision, perhaps within days or weeks, but then the New York Energy Highway Task Force will be coming out with their Action Plan sometime this fall. Credit quality may be affected as a result of all this."