§ 1001. Declaration of policy. Those parts of the Niagara and Saint
Lawrence rivers within the boundaries of the state of New York are
hereby declared to be natural resources of the state for the use and
development of commerce and navigation in the interest of the people of
this state and the United States. In order to provide for the most
beneficial use of these natural resources, for the creation and
development of hydroelectric power in the interest of the people of this
state, and to preserve and enhance the scenic beauty of the Niagara
Falls and river, such natural resources, including the beds and waters
of the said rivers as instrumentalities of commerce and navigation, and
the beds, waters, power and power sites in, upon or adjacent to or
within the watersheds of the said rivers, owned or controlled by the
people of the state, or which may hereafter be recovered by or come
within their ownership, possession and control, shall always remain
inalienable to, and ownership, possession and control thereof shall
always be vested in, the people of the state.

It is further declared that the need for obtaining and maintaining a
continuous and adequate supply of dependable electric power and energy
is a matter of public concern to the people of the state; that the
maximum capacity of the hydroelectric developments on the Niagara and
Saint Lawrence rivers of the authority can be best utilized and
additional public benefit derived therefrom by provision for
supplemental base load nuclear generating facilities or facilities
utilizing new energy technologies and that for the purposes (i) of so
utilizing such capacity and of deriving such additional benefit, (ii) of
providing additional low cost power and energy to attract and expand
high load factor industry, (iii) of continuing an adequate supply of
power and energy for the future needs of its municipal electric systems
and rural electric cooperative customers, and (iv) of assisting in the
development of additional dependable hydroelectric power from other
waters of the state and in the development of advanced facilities having
substantial prospects of reducing electricity production costs, the
public interest requires that the authority participate in the
generation of supplemental electric power and energy by energy storage,
hydroelectric and nuclear means and new energy technologies to the
extent authorized in this title.

It is further declared that there is a shortage of dependable power
capacity in the southeastern part of the state and that the public
interest requires that the authority assist in alleviating such shortage
by providing such base load generating facilities as may be necessary or
desirable to contribute to the maintenance of an adequate and dependable
supply of electricity for the metropolitan transportation authority, its
subsidiary corporations, the New York city transit authority, the port
authority of New York and New Jersey, the city of New York, the state of
New York, the United States, other public corporations and electric
companies within the metropolitan area of the city of New York within
the state of New York.

It is further declared (i) that there should be full cooperation among
private and public entities including the authority, municipal
corporations and rural electric cooperatives engaged in power
generation, transmission and distribution and in associated
developmental and service activities, (ii) that it is desirable that the
authority and the utilities which with the authority constitute the New
York power pool exchange comparable cost, performance and operating data
with respect to generation by nuclear means particularly reflecting the
effect of the authority's tax-free status, (iii) that it is desirable
and reasonable that the authority sell power and energy from its
projects other than the Niagara and Saint Lawrence hydroelectric
projects, not needed for its high load factor industrial, municipal,
rural electric cooperative and public transportation customers to other
members of the New York power pool for resale without discrimination
under their respective tariffs, (iv) that it is desirable that the
authority give its fullest cooperation to the energy research and
development authority in advancing and promoting the development and
implementation of new energy technologies, and shall fulfill its
responsibilities for the development and maintenance of increased base
load for New York state to the greatest extent possible by utilizing new
energy technologies made available by the energy research and
development authority to the extent deemed advisable by the trustees
and, (v) that upon certification by the public service commission of the
commercial and economic feasibility of a new electrical energy
generating technology the power authority shall, in a manner consistent
with its powers and purposes, promptly plan and construct a facility to
demonstrate such new technology; except, however, the authority may plan
and construct such demonstration facility in the absence of such
certification.