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ISO-NE Proposes to Advance Eversource and National Grid Ready Path Solution to Ensure Reliability When Mystic Generating Station Retires in 2024

Source: 
Business Wire

Ready Path “backstop” solution is innovative, timely and most cost-effective, saving customers hundreds of millions of dollars

BOSTON--(BUSINESS WIRE)-- The Ready Path Solution, a collaboration between Eversource and National Grid to improve the region’s energy system reliability, has been singled out by Independent System Operator-NE, the region’s power grid manager, as the cost-effective solution to maintain grid reliability following the retirement of the Mystic Generating Station in 2024.

After a thorough review of 36 bids, ISO-NE is proposing to adopt the Ready Path Solution, to be developed by National Grid and Eversource, as the preferred solution to meet the transmission reliability needs identified in the Boston 2028 RFP. Ready Path will enable the timely closing of the Mystic generation plant, removing a fossil-fuel burning facility, while meeting the reliability needs of the region with an innovative yet cost-effective solution with minimal community or environmental impact.

The Ready Path Solution, with an installed cost of $49 million, is not only the most cost-effective but is also well below the estimated $175 million annually that New England customers are currently paying to keep the Mystic Station available. The project will be built entirely within existing National Grid and Eversource facilities, is the lowest cost proposal and boasts the earliest in-service date.

“We are confident that our joint solution will be delivered on time and will provide significant environmental and financial benefits to customers throughout our region,” said Eversource President of Transmission Bill Quinlan. “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 the evolving needs of our customers.”

“The retirement of Mystic helps reduce fossil fuels from our energy mix in New England, and this proposal will help ensure reliable electricity service in the region,” said Rudy Wynter, National Grid’s President and COO of Wholesale Networks & US Capital Delivery. “National Grid and Eversource will be able to cost-effectively deliver these critical infrastructure projects on time to meet the needs of Greater Boston.”

Following the June ISO-NE report singling Ready Path out for its low-cost and timetable for construction, National Grid and Eversource are also announcing the public launch of the project’s online home, greaterbostonreadypath.com which will be a cornerstone of the companies’ outreach efforts to stakeholders, customers and residents.

Members of the public are encouraged to engage with the project team on questions about the innovative reliability solution by emailing outreachteam@greaterbostonreadypath.com or calling the dedicated project hotline at 1-833-GB-READY. As part of the companies’ commitment to building on lasting partnerships with their host communities and neighbors, the Ready Path team is committing to a robust outreach and communications effort throughout the permitting and construction process.

According to ISO-NE, the closing of the Mystic Generating Station could create significant reliability risks in the Boston area, including overloaded transmission lines and overall system instability. Eight developers submitted a total of 36 proposals to ISO-NE, which ranged in cost from $49 million to $745 million. The Ready Path Solution also offers 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 environmental and community impacts;
  • Will be in-service several 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.

Construction would include installing new equipment at Eversource’s existing North Cambridge substation and National Grid’s Tewksbury, Amesbury and Haverhill substations. Upon completion, the system enhancements and upgrades will address all of the identified system reliability issues resulting from Mystic Generating Stations’ retirement in 2024.

ISO-New England is expected to make its decision in mid-July.

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.

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 #1 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 eversource.com, and follow us on Twitter, Facebook, Instagram, and LinkedIn. For more information on our water services, visit aquarionwater.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20200630005351/en/

Reid Lamberty, Eversource

617-424-2108

reid.lamberty@eversource.com

John Lamontagne, National Grid

339-223-6088

John.Lamontagne@nationalgrid.com

Source: Eversource

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