Read and Laniado, LLP Kevin R. Brocks, Esq. Read and Laniado, LLP 25 Eagle Street Albany, New York Tel. (518) Fax (518) New York Municipal Power Agency Semi-Annual Meeting October 21, 2014

Customer Relations Committee Chuck Rankin – Village of Groton Jeff Dobbins – Town of Massena Meghan Lodge – Village of Churchville Thank You! 2Read and Laniado, LLP

Financing for Utility Scale Renewables 3Read and Laniado, LLP Financial Incentives: Modified Accelerated Cost-Recovery System Business Energy Investment Tax Credit Renewable Electricity Production Tax Credit

Net Metering and Avoided Costs 4 Read and Laniado, LLP Net Metering is a policy that allows utility customers to sell excess power that they generate to the grid. Customers receive the retail rate for the excess energy they generate, which is more than the utilities’ avoided cost.

Read and Laniado, LLP5

6 Dodd-Frank Act Read and Laniado, LLP

7 SWAPS ISDA Read and Laniado, LLP

12-T-0502: Transco Case NYMPA submitted comments on September 12, Read and Laniado, LLP

14-M-0101: Reforming the Energy Vision (REV) 9Read and Laniado, LLP Promote: More efficient use of energy. Deeper penetration of renewable energy resources. Wider deployment of “distributed” energy resources, such as micro grids, on-site power supplies, and storage. Greater use of advanced energy management products to enhance demand elasticity and efficiencies. Empower customers by allowing them more choice in how they mange and consume electric energy. Core policy outcomes: Customer knowledge, Market animation, System-wide efficiency, Fuels and resource diversity, System reliability and resiliency, and carbon reduction.

14-M-0101: Reforming the Energy Vision (REV) Ownership of DER 10Read and Laniado, LLP In the Straw Proposal, DPS Staff recommended that T&D utilities own DER.

14-M-0094: Clean Energy Fund Proposal 11Read and Laniado, LLP NYSERDA proposed a 10-year, $5 billion commitment to funding clean energy development in New York.

14-M-0094: NY-Sun Initiative 12Read and Laniado, LLP

09-M-0311: 18-a Assessment 13Read and Laniado, LLP Some companies over-collected and others under-collected the Temporary State Assessment. The PSC is requiring a recalculation to account of the over or under collection of the Temporary State Assessment.