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ALBANY, N.Y. (AP) Federal regulators have completed the environmental review of a proposed 330-mile transmission line to bring lower-cost Canadian hydroelectric power to New York City.

Albany-based Transmission Developers says Monday that the U.S. Department of Energy's approval of a final environmental impact statement clears the way for final permitting of the Champlain Hudson Power Express transmission line.

The project is aimed at saving about 2 percent to 3 percent on energy bills in New York City, where power is most expensive and urgently needed. Transmission Developers CEO Donald Jessome says ratepayers will also see price breaks from Long Island to Albany.

The line is to run under Lake Champlain and the Hudson River and follow railroad rights-of-way en route from Quebec to Queens.