In the News today

1. Bob McCarthy’s article on last night’s Reynolds/Davis debate is here.

2. The New York Power Authority made a $166 million profit off of its operation of the hydroelectric plant in Lewiston, according to a state comptroller’s audit. Representative Brian Higgins asked for the audit to determine exactly how much Lewiston contributes to the authority’s overall revenue.

“The audit confirms that Western New York and our natural resources are being used by the power authority to subsidize abuse and inefficiency statewide” he said.

The power authority had a different take on Hevesi’s audit.

“The findings affirm [the power authority's] sound and responsible management of the Niagara Project. [the authority's] finances are an open record,” the authority said in a statement.

The audit criticized the power authority for failing to make public, via annual financial statements, its internal figures on the revenues and expenses of each of the 17 electrical generating facilities it operates.

The audit notes that the law establishing the authority requires a “full and complete disclosure of all factors of cost in the transmission and distribution of power. However, detailed information on the fiscal impacts of various power projects is not currently provided.”

The audit concluded that last year, the Lewiston complex cleared $165.8 million on revenues of $397.7 million. In 2004, its revenues exceeded expenses by $112.2 million.

The audit compared these profits against the authority’s overall profits of $58.5 million last year and $82 million in 2004, after subtracting payments to the state treasury and several economic development projects.

According to Higgins, the numbers justify the settlement that NYPA struck with Buffalo and Erie County. Next, he wants to push NYPA for

A very significant block of cheap hydropower to give business that are here, and business we want here, to give Western New York a competitive advantage in the national and global economy.”

3. There is crime in the suburbs, too.

4. The News’ article about the toll removal is front-page material today, and Dave Swarts’ name is misspelled online.