Posted on September 9th, 2016 by

The New Hampshire Site Evaluation Committee (SEC) will hold another Technical Session in Concord today as part of its ongoing review of Northern Pass. These sessions are an informal opportunity for the parties involved in the Northern Pass state review process to ask questions of the project.

Today’s session will focus on the project’s finances, and will include testimony from Michael Ausere, Vice President of Energy Planning and Economics for Eversource. He will speak about Northern Pass’ financial capability to construct and operate the project, as well as the Transmission Service Agreement (TSA), which was approved in 2011 by the Federal Energy Regulatory Commission (FERC) and outlines the agreement between Northern Pass and Hydro-Québec’s subsidiary, Hydro Renewable Energy Inc. (HRE). You can read the FERC order here.

Other important facts include:

  • Northern Pass has the financial capability to construct and operate the project
  • Northern Pass is a direct, wholly owned subsidiary of Eversource Energy Transmission Ventures, Inc., (“EETV”) which is a direct, wholly owned subsidiary of Eversource Energy, Inc.
  • Under the TSA, the project will construct, finance, and own the Northern Pass transmission line, and HRE will pay for firm transmission service pursuant to a FERC-approved formula rate that will allow Northern Pass to recover its costs plus a return on investment over a 40-year period
  • Hydro-Québec is owned by the province of Québec, Canada and has been selling power to New England for decades
  • The TSA includes the requirements for decommissioning, including the requirement that HRE pays for decommissioning costs as part of the Federal Energy Regulatory Commission (FERC)-approved formula rate

To read more about the financial aspects of the project, go to Northern Pass’ application to the NH Site Evaluation Committee:

Vol. I, ES

Vol. I, Sec.  (h) (5) p. 50

Vol II, Ausere Testimony

Technical Sessions will continue throughout September. You can read about the previous session here, which covered system stability and reliability, and public health and safety. You can also find a schedule for all the technical sessions here.


Posted on September 9th, 2016 by

Posted In: ISO New England, Meetings, SEC