Private Cash Funds $2B Canada-NYC Power Line, Backer Says

Law360, New York (April 2, 2012, 5:25 PM EDT) -- Utilities like Consolidated Edison Co. of New York Inc. are wrong when they say the cost of building Blackstone Group LP's proposed $2 billion Canada-to-New York City power line quickly could be shifted to ratepayers, the private project's backers said Friday. 

The 330-mile, underwater power project, which could bring 1,000 megawatts of hydroelectric juice from Quebec to New York City, couldn't shift costs that way because it is going forward on a "purely merchant basis," Champlain Hudson Power Express Inc. told the New York Public Service...
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