New York Regional Interconnect has announced that, while it remains committed to transmission development in New York State, it is suspending its current participation in the New York Public Service Commission (PSC) Article VII process for its 1200MW HVDC project.

The March 31 decision by the Federal Energy Regulatory Commission (FERC) denying NYRI's request to review the recently approved rules of the New York State Independent System Operator (NYISO) for transmission tariffs has created an unacceptable financial risk for NYRI's investors. Even if the NYRI project were to be sited by the PSC, NYRI would face the prospect of being unable to recover transmission costs from the ratepayers who would benefit from the project.