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The New York State Energy Research and Development Authority (Energy Authority) is responsible for the development and use of safe, dependable, renewable and economic energy sources and conservation technologies, lt sponsors energy research, development and demonstration (RD&D) projects and financing programs designed to help utilities and other private companies fund certain energy-related projects. The Energy Authority is a public benefit corporation which was created in 1975 by the New York State Legislature. In working toward these goals, the Energy Authority sponsors RD&D projects in two major program areas: Energy Efficiency and E_onomic Development, and Energy Resources and Environmental Research. Under its financing program, the Energy Authority is authorized to issue tax-exempt bonds to finance certain electric or gas facilities and special energy projects for private companies. The Energy Authority also has responsibility for constructing and then operating facilities for the disposal of low-level radioactive wastes produced in New York State. The generators of these wastes ultimately will bear the costs of the construction of these facilities. A 13-member board of directors governs the Energy Authority, with Francis J. Murray, Jr., Commissioner of the State Energy Office, serving as Chairman of the Board and Chief Executive Officer. F. William Valentino, President of the Energy Authority and Chief Operating Officer, manages its programs, staff and facilities. The Energy Authority derives its basic RD&D revenues from an assessment levied on the intrastate sales of New York State's investor-owned electric and gas utilities. Additional RD&D funds come from the investment of retained earnings, as well as from an annual contribution from the New York Power Authority. The Energy Authority's RD&D program is also supported by funds from a variety of cosponsors, including utilities, universities, industries, private engineering and scientific research firms, local governments, and State and Federal agencies.

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