Cohocton Wind Watch: PSC Garry Brown Iberdrola Merger June 23, 2008 Letter by Glenn R. Schleede
Cohocton Wind Watch is a community citizen organization dedicated to preserve the public safety, property values, economic viability, environmental integrity and quality of life in Cohocton, NY and in surrounding townships. Neighbors committed to public service in order to achieve a reasonable vision for a Finger Lakes region worthy of future generations.


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Monday, June 23, 2008

PSC Garry Brown Iberdrola Merger June 23, 2008 Letter by Glenn R. Schleede

Dear Mr. Chairman & Commissioners:

Please be aware that Iberdrola's "commitment" to invest $2 Billion in wind energy in New York is NOT in the best interest of New York's electric customers, taxpayers or economy.

As the attached paper illustrates, individuals and organizations are "investing" in wind energy primarily to take advantage of extraordinary tax breaks and subsidies for wind energy -- not because of benefits to the environment, energy supply or New York's economy.

Almost certainly, Iberdrola's desire to build "wind farms" in New York would permit Iberdrola to shelter from federal and New York corporate income taxes much of its profit from the electric distribution companies that it wishes to acquire.

Why would the PSC (or Senator Schumer) want to help Iberdrola avoid paying federal or NY income tax and, thereby, (a) shift tax burden to ordinary taxpayers and (b) send to another country more of the money paid by NY electric customers?

Glenn R. Schleede

(Click to read report)

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