BOSTON--(BUSINESS WIRE)--Eversource and National Grid today applauded the decision by ISO-New England, the regional transmission operator, to select the Ready Path Solution, a collaboration between the two utilities, as the cost-effective solution to maintain grid reliability following the retirement of the Mystic Generating Station in 2024.
According to ISO-New England, the closing of the Mystic Generating Station could create significant reliability risks in the Boston area, including overloaded transmission lines and overall system instability. Recognizing the issues, in December ISO-New England issued a request for proposals (RFP) to address the region’s transmission needs once the Mystic facility is retired.
After a thorough review of 36 bids submitted by eight developers, ISO-NE selected the Ready Path Solution as the answer to meet the transmission reliability needs identified in the RFP.
The project will enable the timely closing of the Mystic facility in 2024 and meet the reliability needs of the region, while installing an innovative, cost-effective solution that would have minimal community or environmental impact. The Ready Path Solution has an installed cost of $49 million, by far the most cost-effective of the proposals submitted to the ISO-NE. The project will also allow for the timely closure of the Mystic plant, which costs New England customers an estimated $175 million annually to keep the station available.
The project will be built entirely within existing National Grid and Eversource facilities and boasts the earliest in-service date.
“We’re pleased ISO-NE has chosen our joint solution and are confident that we will deliver this project on time,” said Eversource President of Transmission Bill Quinlan. “The Ready Path Solution will provide significant environmental and financial benefits to customers throughout the region, and our expertise to effectively execute and maintain this solution ensures that our electric system keeps pace with the evolving needs of our customers.”
“National Grid and Eversource have partnered to propose a project that will cost-effectively meet the region’s reliability needs and allow the timely closure of the Mystic station,” said Rudy Wynter, National Grid’s President and COO of Wholesale Networks & US Capital Delivery. “We’re pleased ISO-New England has recognized the Ready Path Solution as the best answer for the Greater Boston area and we look forward to moving ahead with this project soon.”
The Ready Path Solution:
- 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.
Members of the public are encouraged to engage with the project team on questions about the innovative reliability solution by emailing firstname.lastname@example.org 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.
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.