- Associated Press - Thursday, February 18, 2016

LYONS FALLS, N.Y. (AP) - A northern New York 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 (https://bit.ly/1QlExP3 ) 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 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.

Copyright © 2019 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times welcomes your comments on Spot.im, our third-party provider. Please read our Comment Policy before commenting.


Click to Read More and View Comments

Click to Hide