Dive Brief:

• The New England governors have asked the region's grid operator to diversify the area's renewable power supply and increase natural gas imports.
• The six New England states are seeking ISO-New England's backing for a massive transmission project to deliver hydro power from Quebec into the region and to reach wind farms in Maine. The states intend to put the project out to bid.
• The governors also want the ISO to more than double the region's ability to import natural gas by 2018.

Dive Insight:

The proposals are ambitious and would remake New England's power supply. Increasing the region's natural gas capacity is crucial. Power prices are spiking on cold weather and pipeline capacity constraints. New England has high power prices so getting them down would make the region more competitive.

The Energy Information Administration reported this week that New England's power prices jumped to $237.75/MWh earlier this month on tight natural gas supplies.