News 12 LI - Special Broadwater Report III and IV

The claim that Broadwater Energy?s natural gas terminal will save Long Island residents money is proving to be a sticking point in the debate over the company?s plan. Broadwater highlights that assertion

News 12 Staff

Mar 27, 2008, 8:33 PM

Updated 5,959 days ago

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The claim that Broadwater Energy?s natural gas terminal will save Long Island residents money is proving to be a sticking point in the debate over the company?s plan.
Broadwater highlights that assertion in their advertisements aimed at winning over skeptical residents. If the plan goes through, Broadwater would pump a billion cubic feet of natural gas into the New York area each day. The company says that taxpayers would save about $300 a year on their gas and electric bills.
While residents say they are keen on saving money and welcome any change that would actually lower costs, many Broadwater critics say the company?s claims are disingenuous. They say there?s no way to be sure people will save money because of the unpredictable nature of the market and reliance on foreign oil-producing countries.
According to a News 12 Long Island/Hofstra University poll, 62 percent of respondents said they did not believe Broadwater would save them $300 a year. Twenty percent said yes and 18 percent were undecided.
?We have a market driven product where we have China, Japan and India who want and need to suck up the LNG,? Adrienne Esposito, of the Anti-Broadwater Coalition, says. ?The U.S. would have to outbid them. All this leads to higher prices not lower prices.?
However, Broadwater points to a study by a LIPA consultant that predicts the New York area would save $15 billion in energy costs over 10 years. John Hritcko Jr., of Broadwater Energy, says the new gas supply will control the overall price and volatility of gas.
The head of LIPA, which could become a customer of the liquefied natural gas barge, says he wants further assurances. ?I'd like to have some kind of guarantee that LIPA would get a certain amount of gas from this project, and that we'd get it at some kind of discounted rate in exchange for hosting it,? Kevin Law says.
Governor David Paterson is expected to decide shortly on key state permits for the project.
On Thursday, March 27, News 12 Long Island's Doug Geed reports on the Broadwater project's effects on the Long Island Sound. That story begins at 5 p.m. At 7 p.m., tune in for a special edition of Long Island Talks on the Broadwater project. The live town meeting will be held in Brookhaven.Debate over Broadwater?s impact on LI taxpayersWhat Long Islanders say about cost-cutting claims
News 12 Long Island - Special Broadwater report


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