BOSTON (July 27, 2020) – Eversource and National Grid today applauded the decision by ISO- New England, the regional transmission operator, to select the Ready Path Solution, a collaboration between the two utilities, as the cost-effective solution to maintain grid reliability following the retirement of the Mystic Generating Station in 2024.
According to ISO-New England, the closing of the Mystic Generating Station could create significant reliability risks in the Boston area, including overloaded transmission lines and overall system instability.
The Ready Path Solution has an installed cost of $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, which costs New England customers an estimated $175 million annually to keep the station available.
The project will be built entirely within existing National Grid and Eversource facilities and boasts the earliest in-service date.
“We’re pleased ISO-NE has chosen our joint solution and are confident that we will deliver this project on time,” said Eversource President of Transmission Bill Quinlan. “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 & US Capital Delivery. “We’re pleased ISO-New England 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.”
Recognizing the issues, in December ISO-New England 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, ISO-NE selected the Ready Path Solution as the answer to meet the transmission reliability needs identified in the RFP.
The project will enable the timely closing of the Mystic facility in 2024 and 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:
- 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 unparalleled 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.
Members of the public are encouraged to engage with the project team on questions about the innovative reliability solution by emailing [email protected] or calling the dedicated project hotline at 1-833-GB-READY. As part of the companies’ commitment to building on lasting partnerships with their host communities and neighbors, the Ready Path team is committing to a robust outreach and communications effort throughout the permitting and construction process.