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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