Low power prices may force wood-fired power plant to close

wood biomass ELP

LYONS FALLS, N.Y. (AP) — A northern New York power plant that burns wood chips to produce electricity is in danger of closing because of low energy prices.

Larry Richardson, CEO of ReEnergy, tells the Watertown Daily Times the company's wood chip-burning cogeneration plant in Lyonsdale could close in 60 to 90 days without a power purchase agreement.

He says the 22-employee power plant is operating at a loss because wholesale energy prices have dropped by about 40 percent over the past year.

Richardson says the plant indirectly supports more than 100 jobs in the logging industry and has an annual economic impact of $15 million to $20 million.

Lewis County Legislator Roscoe Fawcett said the legislature plans to contact Gov. Andrew Cuomo and Sen. Charles Schumer about the urgency of the matter.

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