AbstractNiagara Mohawk Power Corporation (NMPC), an investor‐owned electric and gas utility operating in upstate New York, has incorporated environmental factors into several facets of its operations, including generation and transmission system planning and operations, system electric operations, and system gas operations. This article describes how NMPC has incorporated environmental considerations in its valuation of new and existing generation resources. What makes this effort unique is that not only are existing environmental regulatory requirements reflected in the planning process, but also prospective environmental requirements are incorporated. This article provides an overview of NMPC's generation valuation process and discusses how both existing and future environmental requirements are addresse
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