BOSTON & WALTHAM, Mass.--(BUSINESS WIRE)--When the Mystic Generating Station closes for good, National Grid and Eversource are prepared to meet the energy shortfall created by the station’s retirement.
New England’s power grid manager, ISO New England (ISO-NE), says the station’s closing will create significant reliability risks in the Boston area, including overloaded transmission lines and overall system instability. To address those concerns, ISO-NE issued a solicitation for competitive transmission solutions.
National Grid and Eversource today announced that they have submitted a range of proposals for transmission solutions that will provide Greater Boston with enhanced electricity reliability, increasing capacity for the flow of new clean energy resources, while having a minimal community or environmental impact.
The eight proposals include upgrades to existing properties, are cost-effective, and can be built before Exelon retires Mystic Station on June 1, 2024. Some of the new proposals have the added benefit of enabling cost-effective delivery of clean energy resources like offshore wind, with one capable of supporting an additional 1,100 megawatts of clean energy during peak demand hours.
“Our proposals will help usher in new clean energy resources, provide enhanced reliability for the region’s electrical system, and ensure these upgrades happen with little environmental impact,” said Rudy Wynter, President and COO of the Wholesale Networks & US Capital Delivery group within National Grid. “National Grid and Eversource will be able to cost-effectively deliver these critical infrastructure projects on time to meet the electricity needs of Greater Boston.”
“As operators of New England’s largest energy delivery system, we have the expertise and the experience to ensure that our electric system keeps pace with our customers’ evolving needs,” said Eversource President of Transmission Bill Quinlan. “We have a high degree of confidence that our innovative solutions can be delivered on time and will provide significant environmental and financial benefits to customers throughout the region. The retirement of Mystic helps to reduce fossil fuels from our energy mix in New England as we work to upgrade our transmission system to accommodate more renewables and enable a clean energy future for our region.”
The eight proposals submitted by Eversource and National Grid range in cost from $48 million to $120 million, with the most cost-effective solution containing the following benefits:
- Maximizes the use of existing transmission facilities in the Boston area;
- Keeps upgrades entirely on properties already in use by the energy companies, minimizing the environmental impact;
- Will be in-service eight months prior to the planned Mystic Station retirement;
- Capitalizes on the strong financial capabilities and unparalleled expertise of two companies that develop and construct transmission projects in Massachusetts and throughout New England.
Other solutions include the construction of a new 345 kilovolt (kV) transmission circuit along existing rights of way north of the Mystic Generating Station that will deliver added reliability, resilience and maximize the capacity to bring more clean energy into the Boston area.
The financial benefit to customers provided by these range of solutions will also be significant. All of the proposed solutions from both companies are well below the estimated $175 million annually (excluding fuel costs and capacity credits) that New England consumers will pay to keep Mystic Station available.
ISO-NE is expected to make its decision on the winning proposal by mid-2021.
About National Grid
National Grid (NYSE: NGG) is an electricity, natural gas, and clean energy delivery company serving more than 20 million people through our networks in New York, Massachusetts, and Rhode Island. National Grid is transforming our electricity and natural gas networks with smarter, cleaner, and more resilient energy solutions to meet the goal of reducing greenhouse gas emissions.
For more information, please visit our website, follow us on Twitter, watch us on YouTube, friend us on Facebook, and find our photos on Instagram.
About Eversource
Eversource (NYSE: ES), celebrated as a national leader for its corporate citizenship, is the #1 energy company in Newsweek’s list of America's Most Responsible Companies for 2020 and recognized as one of America’s Most JUST Companies and the top utility by Forbes and JUST Capital. Eversource transmits and delivers electricity and natural gas and supplies water to 1.8 million customers throughout Massachusetts, including approximately 1.5 million electric customers in 139 communities, nearly 300,000 gas customers in 51 communities, and 19,800 water customers in five communities. Eversource harnesses the commitment of approximately 8,300 employees across three states to build a single, united company around the mission of safely delivering reliable energy and water with superior customer service. The #1 energy efficiency provider in the nation, the company is empowering a clean energy future in the Northeast, with nationally-recognized energy efficiency solutions and successful programs to integrate new clean energy resources like solar, offshore wind, electric vehicles and battery storage, into the electric system. For more information, please visit our website (www.eversource.com) and follow us on Twitter (@eversourceMA) and Facebook (facebook.com/EversourceMA). For more information on our water services, visit www.aquarionwater.com.
