Just Transition Conference Resources for a Just Transition of the Huntley Coal Plant David Schlissel for Tom Sanzillo Director of Financial Analysis June.

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Just Transition Conference Resources for a Just Transition of the Huntley Coal Plant David Schlissel for Tom Sanzillo Director of Financial Analysis June 7, 2014

Resources Available to Mitigate Impact of Plant Retirement 2 Given the uncertainty about the future financial viability of Huntley, a fiscal stability plan should be developed as soon as possible to offset any revenue losses to the schools, towns and county. Possible smart government expenditure actions could include: New York Power Authority (NYPA): has contributed $70 million/year over last 3 years to state’s General Fund. NYPA has supported non-energy related economic development initiatives State School Aid Existing ISO payments (uplift payments) Legislative allocations ©2014 Institute for Energy Economics & Financial Analysis

NYPA 3 Potential scenario is that NYPA could purchase Huntley for a nominal amount and then retire the plant in the near future: NYPA Ownership ensures: better maintenance, improved confidence that toxic remediation will occur; confidence in any demolition activity; greater community responsibility; and that there could be a sound, accountable future planning process for the plant and the community. Dynegy purchased the Danskammer coal plant in 2000 for $900 million and recently sold it for $3 million. ©2014 Institute for Energy Economics & Financial Analysis

Resources to Help Displaced Employees if Huntley Retired - Existing Resources 4 ©2014 Institute for Energy Economics & Financial Analysis Estimate fewer than 70 employees could be affected by Huntley retirement. Existing resources to help displaced employees: Other jobs with NRG: Company employs 8800 people (full-time) across the U.S. Looking to expand employment through solar projects and repowering projects.. Retirement plan for employees who decide to retire: NRG has both a defined benefit and 401k plan for its employees.

New Resources to Help Displaced Employees and Local Businesses if Huntley Retired 5 ©2014 Institute for Energy Economics & Financial Analysis Help for Huntley workers: Union-management initiative: resources provided to IBEW Local in coordination with NRG Human Resources could develop a model for helping displaced employees find new jobs. Existing energy employers: National Grid, NYPA Regional opportunities in repowering, wind, and energy efficiency. Additional investment could be provided to local community colleges for retraining. Support for local businesses: A small business transition team staffed, by Erie Co. Industrial Development Agency, business orgs, the Erie Co. Executive and relevant county legislators, should be created to design a support program for local businesses.