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Photo: Getty Images
Photo: Getty Images

NYSEG Not Moving Forward With Compressed Air Energy Storage Project

New York State Electric and Gas has informed the U.S. Department of Energy that it will not move forward with the proposed compressed air energy storage (CAES) project in the Town of Reading.

Upon completion of comprehensive engineering and financial evaluations, NYSEG determined that a number of site-specific issues, including the cost of site development, and energy market conditions, including the effects of inexpensive natural gas-fired generation on market prices, make the project at the Town of Reading site uneconomical

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