The New York Municipal Power Agency (NYMPA) is a joint action Agency
of 36 New York State municipal members. The Agency was formed in 1996
and commenced supplying
power to its members in May 1998. Though the Agency was formed in 1996,
the Member Municipal Systems have, for the most part, been purchasing,
and distributing electricity to their customers for over 100 years.
The joint action Agency was formed pursuant to §119-o of the New
York State General Municipal Law. The Law authorizes municipal entities,
to agree to jointly do those things which they are authorized to undertake
on their own. The law specifically authorizes municipalities to bind
to each other by contract to accomplish their purposes.
As a result, not only is NYMPA financially sound with a proven track record,
but the members are government entities, with rate and taxing authority. Consequently,
the municipalities that joined together to form NYMPA took great care to satisfy
themselves that the joint action Agency would be financially sound, that each
member municipality would be secure in the Agency, and that each member would
meet its financial obligations. NYMPA looks forward to meet the challenges of
deregulation and the ever-changing electric industry.