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My Answer asked in Business & FinanceCorporations · 1 decade ago

Why does the Niagara Power Project earn a 75% profit on revenue, when it could just lower everyone's rates?

The Unions complained about profit margins, but how can this public union make such outrageous profits and not just lower it's rates for consumers?

Update:

In May 2005, Artvoice ran a cover story on the New York Power Authority and their effort to secure another 50-year license from the federal government to operate the Niagara Power Project, a regional asset and a veritable liquid goldmine–in fact, the

largest and most profitable power plant in the

state. To put the money issue in perspective, NYPA’s application draft cites the annual net profits of Niagara at $537,610,000—more than half a billion a year.

I may not be exact, but I do know that more than .50 cents of every dollar we give NYPA, they keep.

Update 2:

Barry Goldwater... you may want to do some checking. The recklessness I speak of is true.

2 Answers

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  • ?
    Lv 7
    1 decade ago
    Favorite Answer

    Because Government Regulations forbid that. Sad isn't it

  • Barry auh2o
    Lv 7
    1 decade ago

    ,I would appreciate it if you would point out to me on what page of their financial freport it states they made a 75% profit.

    I obviously missed something, but it shouldn;t ' be a problem for you to point out what I missed, since you are obviousl;y an expert oin how to read an annual report.

    Source(s): http://www.nypa.gov/annualreport/2008financials.pd...
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