Eversource, National Grid make transmission proposals with clean energy benefits

National Grid (NYSE:NGG) and Eversource Energy (NYSE:ES) have made eight transmission solutions proposals on how to offset the expected energy shortfall in Greater Boston coming with the retirement of Massachusetts’ Mystic Generating Station four years from now.

The proposals include upgrades to existing facilities and bring the added benefit of enabling cost-effective delivery of clean energy resources such as offshore wind. A statement released by the two companies says that one of the options will support an additional 1.1 GW of clean energy during peak demand hours.

Eversource and National Grid’s proposals have an estimated cost ranging from USD 48 million (EUR 42.5m) to USD 120 million. In addition to maximising the use of existing infrastructure, the two plan the construction of a new 345-kV transmission circuit along existing rights of way north of the Mystic Generating Station.

The Mystic power station is operated by Exelon Corp (NASDAQ:EXC) and is scheduled for shut-down on June 1, 2024. According to power grid manager ISO New England (ISO-NE) this move will create substantial reliability risks in the Boston area, including overloaded transmission lines and overall system instability.

ISO-NE should decide on the winning proposal by mid-2021.

(USD 1.0 = EUR 0.886)

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