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30 April 2003 - Consolidated Edison Co. of New York Inc. said Monday it awarded a ten-year contract to buy 500 MW of electricity from a new power plant to be built in the borough of Queens by Astoria Energy LLC.
For Astoria Energy - a unit of SCS Energy LLC - the deal will help them obtain the financing needed to build the plant, which is tentatively slated to enter service by May 1, 2006.
The contract covers enough power for about 500 000 homes.
This plant will provide much-needed electric supply to New York City, which has a growing population and economy, but one of the tightest energy supplies in the nation.
In December, Con Edison issued a request for proposal seeking a contract to buy 500 MW of electric capacity from a new facility located in the city or a facility outside the city with a new transmission line dedicated to the city. Astoria Energy won the bidding.
Con Edison is a distribution subsidiary of energy holding company Consolidated Edison Inc. that supplies more than 3 million customers in New York City and Westchester County, New York.
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