NEW YORK - The New York State Public Service Commission Wednesday declared complete and accepted the Final Generic Environmental Impact Statement for developing and implementing an Energy Portfolio Standard. Acceptance of the FGEIS is an integral step in the process for establishing an EPS to reduce energy consumption in New York by 15 percent from expected levels by 2015.

“Increasing energy efficiency will provide substantial benefits for New York by forestalling the building of new generation plants, reducing use of finite fossil fuels, potentially lowering customers’ energy bills, developing independent energy sources to reduce energy imports, and mitigating the environmental impacts of burning fossil fuel for energy, including greenhouse gas emissions,” said Commission Chairman Garry Brown. “In addition, more efficient use of energy has the potential to foster economic development and job growth by encouraging in-state technology advances to deliver energy efficiency programs to consumers.”

On May 17, 2007, the Commission instituted a landmark proceeding to explore and develop the means by which the State’s electric energy consumption can be decreased by 15 percent from expected levels by 2015, including development of an electric and natural gas EPS, and to establish a measure implementing that standard.

The objective of the proceeding is to balance cost impacts, resource diversity, and environmental effects by decreasing the State’s energy use through increased conservation and efficiency. In order to ensure that the Commission’s programs succeed, these objectives will have to be addressed in Commission efforts to meet the State’s needs for comprehensive energy planning.