Cost-effective solution to ensure reliability when Mystic Generating Station retires in 2024.
ISO-New England (ISO-NE) recently selected the Ready Path Solution, a collaboration between Eversource and National Grid, as a cost-effective solution to maintain grid reliability following the retirement of the Mystic Generating Station in 2024. According to the ISO-NE, 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, the ISO-NE 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, the ISO-NE selected the Ready Path Solution as the answer to meet the transmission reliability needs identified in the RFP.
The project will 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 US$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 in 2024, which costs New England customers an estimated US$175 million annually to keep the station available. It will be built entirely within existing National Grid and Eversource facilities and boasts the earliest in-service date.
“We’re pleased the ISO-NE has chosen our joint solution and are confident that we will deliver this project on time,” said Bill Quinlan, Eversource president of transmission. “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 & U.S. Capital Delivery. “We’re pleased the ISO-NE 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 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.