(Adds NYPA activates reduction program)
July 10 (Reuters) - The state-owned New York Power Authority (NYPA) on Wednesday will activate its program to reduce electricity use in New York City for a third consecutive day as more customers turn up their air conditioners to escape the hot, humid weather, a spokeswoman for the company said.
"The electric system experiences its greatest challenges during the hottest summer days when demand for air-conditioning skyrockets and the margins between available generating capacity and electricity use narrow the most," Gil Quiniones, NYPA president and CEO, said in a statement.
NYPA said its so-called peak reduction program can be activated for up to 15 days between June 1 and Sept. 1.
Program participants agreed to reduce power usage by almost 14 megawatts (MW). One megawatt can power about 800 to 1,000 homes.
Participants include the Metropolitan Transportation Authority, which runs the city's commuter trains and subways, and the City University of New York.
In return for the power curtailment, NYPA pays participants $25 per kilowatt reduced, for an expected outlay that could total hundreds of thousands of dollars by summer's end. (Reporting by Scott DiSavino; Editing by Maureen Bavdek)