Capacitor Bank Project to Improve Power Delivery to New York City

Aug 14, 2007, 01:00 ET from Competitive Power Ventures, Inc.

    NEW YORK, Aug. 14 /PRNewswire/ -- New Athens Generating Company
 ("NAGC") working with the cooperation of Consolidated Edison Company of New
 York, Inc. ("Con Edison"), has announced a plan for capacitors to be
 installed at a Con Edison substation in Westchester County, New York. The
 capacitors are part of a program to enhance the deliveries of power over
 the electrical system from the generating stations in the Albany area to
 New York City. NAGC and upstate utility National Grid have also worked
 cooperatively to install new relay equipment in conjunction with this
 overall project.
     "These electrical system upgrades will ensure diversified reliable
 power in New York that benefits both consumers throughout New York and the
 power stations in the Capital Region," said Ned Kleinschmidt -- Chief
 Executive Officer of NAGC and MACH Gen LLC, a privately held company with
 over 3600 MW of gas-fired generation throughout the US. NACG, a subsidiary
 of MACH Gen, owns a 1080 MW state of the art gas fired power station in
 Athens, New York that has been operational since 2004. The facility is
 managed by Competitive Power Ventures, Inc. and operated by North American
 Energy Services.
     Typically, during hot summer days when power is needed most, the
 Capital Region generating stations are curtailed since congestion on the
 system reduces the amount of energy transfers available during critical
 system operating hours. The announced joint plan will help alleviate these
     The projects have obtained regulatory approval with the New York
 Independent System Operator-Operating Committee "NYSIO-OC", and are
 anticipated to be in service before the summer of 2008.

SOURCE Competitive Power Ventures, Inc.