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Last month the PSC affirmed that Beacon's Stephentown plant had met all relevant PSC environmental requirements. With the PSC's last two decisions now in place, the Company is authorized to apply for applicable permits, submit any final plans and drawings to PSC for review, and prepare to construct and operate the plant. "We are excited to be able to support the development of new, state-of-the-art facilities that will help us improve our use of electricity," said Commission Chairman Garry Brown. "The facility's flywheels are designed to store excess energy when the generated power supply exceeds demand and conversely deliver it back to the grid when demand exceeds supply. This project will help fully utilize electricity generated from renewable power sources, which is often generated at times when demand is low." "This is an important decision for Beacon Power and for electricity users in the state," said Bill Capp, Beacon president and CEO. "The PSC works to ensure that New Yorkers have access to reliable and low-cost utility services. We believe that their decision to approve the CPCN for the Stephentown plant is recognition of the benefits that flywheel energy storage can bring in improving grid reliability and providing an essential grid service in a clean, low-cost way." For More Stocks Visit http://www.nebulastocks.com/ CONTACT: Nebula Stocks LLC WWW: http://nebulastocks.ning.com ((M2 Communications disclaims all liability for information provided within M2 PressWIRE. Data supplied by named party/parties. Further information on M2 PressWIRE can be obtained at http://www.presswire.net on the world wide web. Inquiries to info@m2.com. For full details for BCON click here.
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