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Q&A
Inquiry into Hydro Quebec pipeline and potential tariffs
3:13:04
ยท
73 sec
Council Member Restler inquires about the potential impact of new tariffs on the Hydro Quebec pipeline, which is meant to provide renewable energy to New York City government. OMB Director Jiha acknowledges the possibility of significant increases in electricity prices due to potential tariffs.
- The pipeline is scheduled to come online next spring
- Jiha doesn't have specific estimates but confirms the pipeline could be subject to a 25% tariff
- There is a possibility of significant increases in electricity prices for New York City
- Restler expresses concern about the impact of potential federal funding cuts on housing and affordability
Lincoln Restler
3:13:04
I'm very concerned about Chippy, the Hydro Quebec pipeline that is supposed to be providing renewable energy to support all of New York City government and then some.
3:13:13
It's supposed to be coming online next spring.
3:13:15
Do you anticipate with these new tariffs that it will be a significant additional cost?
3:13:19
Can you share any estimates with us on what kind of impact this would have on the city?
Jacques Jiha
3:13:23
I don't have any estimate at this point in time, but we will come we will come back to you.
Lincoln Restler
3:13:28
Do you believe that Chippy is subject and Hydro Quebec pipeline is subject to this?
Jacques Jiha
3:13:31
From around us in Ontario, we want to impose that 25% tariff.
Lincoln Restler
3:13:37
So, do believe that this renewable energy pipeline will be It
Jacques Jiha
3:13:40
could be subject to it.
3:13:42
So, as I said, we're waiting to see, to get full guidance from what Canadian government is doing, and to see how we'll be impacted.
3:13:50
But there is a good chance that we will see some significant increase in electricity prices in New York City.
Lincoln Restler
3:13:57
Well, these are dark times.
3:13:59
58% of our HPD budget comes from federal funding.
3:14:02
And I can only imagine what's gonna happen to the affordability crisis if the worst cuts that are proposed in Washington come to fruition.
3:14:08
We're all gonna need to work together to push back in every possible way, and I appreciate that.
3:14:13
I appreciate the opportunity to work together, and thank you for answering the questions.
Jacques Jiha
3:14:15
Looking forward to working with you.