Dive Brief:
- Northeast Utilities views transmission investment as a major growth opportunity for the company.
- The utility company, headquartered in Hartford, Connecticut, expects to spend $4.3 billion on transmission from 2013 through 2017, up from the $4.2 billion the Northeast Utilities spent from 2001 through 2012.
- Transmission additions are needed in New England to help meet the region's renewable and greenhouse gas goals. New England governors have agreed on the outlines of a plan to bring wind and hydroelectric generation to load centers from Canada and Maine.
Dive Insight:
With about 10% of New England's generating fleet set to retire in a few years, new transmission is needed to ensure grid reliability. It is also needed to meet the region's clean energy goals. And Northeast Utilities aims to capitalize on this need. Meanwhile, the company also plans to spend about $3.3 billion over the next four years on electric distribution upgrades.
