MANCHESTER, N.H. (December 27, 2017) – Today, the Northern Pass Transmission project (NPT) announced it is the only large transmission project that can achieve Massachusetts’ statutory requirement for carbon emission reductions while also delivering more than $900 million in accelerated benefits to New England customers due to NPT’s early in-service date of 2020.
“It is clear that Massachusetts wants to act quickly to add cleaner and more affordable power to our energy mix, and no other project will deliver as much clean energy sooner than Northern Pass,” said Eversource Vice President of Transmission Business Development Patrick Smith. “Northern Pass is years ahead of the competition and has firm pricing backed by fully executed contracts with all major contractors and suppliers, as well as a signed Project Labor Agreement with the IBEW that guarantees local jobs for Massachusetts and New Hampshire workers. This is in stark contrast to other conceptual projects that are early in their development and permitting processes, have no contracts in place, and significant uncertainty regarding their scope. Such projects, including their costs, schedule and corresponding benefits, should be viewed with caution.”
The accelerated benefits are a result of Northern Pass being placed in service in 2020, two years ahead of other proposals, and include lower energy and capacity market costs, value from reduced carbon emissions and a reduction in natural gas prices. Massachusetts would realize more than $500 million of these benefits.
Northern Pass will bring 1,090 MW of clean, reliable hydroelectricity from Hydro-Québec’s existing resources over a high voltage transmission line extending from Des Cantons substation in Québec to Deerfield, New Hampshire where the line will interconnect to the New England electric system. Both the New Hampshire and Québec portions of the line are in the final stages of the siting process, and Northern Pass is on track to be “shovel ready” to begin construction early in the second quarter of 2018.
“The Northern Pass project will not only bring clean, low-cost energy to New England ahead of other projects, but will also bring jobs to Massachusetts and New Hampshire years ahead of other proposed energy projects” said Brian Murphy, Business Manager of International Brotherhood of Electrical Workers (IBEW) Local Union 104. “Northern Pass will put people to work in Massachusetts and New Hampshire in a matter of months, while other projects are at best two to three years away. We can’t kick the can down the road. Solutions to our region’s energy problems and jobs are needed now.”
The accelerated benefits from a 2020 Northern Pass in-service date were calculated by London Economics International, the project’s economics expert. For more information about the unique benefits of Northern Pass, as well as the broad support the project enjoys in New Hampshire and Massachusetts, please see the project video.
Northern Pass is a 192-mile electric transmission line project that will bring to New England 1,090 megawatts of clean hydropower. This reliable and affordable source of power will also bring a wide range of benefits to the region, including millions of dollars in energy cost savings and a significant reduction in carbon emissions. To learn more about Northern Pass, go to www.northernpass.us.
Eversource (NYSE: ES) is New Hampshire’s largest electric utility, serving more than 500,000 homes and businesses in 211 cities and towns, and also supplies water to approximately 9,300 homes and businesses in Hampton, North Hampton and Rye. Eversource is proud to be recognized as the top contributor to United Way in New Hampshire. Recognized as the top U.S. utility for its energy efficiency programs by the sustainability advocacy organization Ceres, Eversource harnesses the commitment of its more than 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. For more information, please visit our website (www.eversource.com) and follow us on Twitter (@eversourceNH) and Facebook (facebook.com/EversourceNH). For more information on our water services, visit www.aquarionwater.com.