Rochester, N.Y. –The New York Public Service Commission is concerned about how Kodak’s bankruptcy will affect utilities at Eastman Business Park.
The PSC sent a letter to the judge overseeing Kodak’s bankruptcy asserting its authority in any sale of the industrial complex or decision by Kodak to curtail utilities. The PSC says it is worried about other tenants who rely on Kodak’s power.
“While it does not appear that Kodak intends any action that could jeopardize service, its ongoing operation of utilities cannot be definitively assured until it successfully emerges from Chapter 11 bankruptcy,” the commission wrote.
The PSC says it must give approval of any sale or abandonment of the park. It also said it must approve any plan to shut off electricity.
Eastman Business Park has its own coal-fired power plant. The plant provides inexpensive power and heating and cooling. The plant needs about $40 million in upgrades in the coming years to meet federal and state environmental regulations. While the plant is an asset, future upgrade costs are seen as a liability in any potential sale of the complex.
