New York Commission approves $800 M investment
The New York State Public Service Commission has approved a request by Consolidated Edison Company of New York to recover the costs of three transmission projects.
Image for illustration purposes
New York, Albany: The New York State Public Service Commission has approved a request by Consolidated Edison Company of New York to recover the costs of three transmission projects.
The projects are: Rainey to Corona, the Gowanus to Greenwood and the Goethals to Greenwood. These projects are known collectively as the Transmission Reliability and Clean Energy Projects, or TRACE projects.
“It is clear that New York State is in the middle of a fundamental change in the generation and delivery of electricity,” said Commission Chair John B. Howard. “Priority has shifted to ensuring renewable, clean sources are integrated into the grid while polluting sources are being phased out.”
Work is expected to commence immediately, with the first project, known as Rainey, operational by the start of summer 2023 and the Gowanus and Goethals projects operational by the start of summer 2025.
The TRACE projects are needed for reliability in 2023 and 2025 and to address deficiencies in two of Con Edison’s transmission load areas because of the retirement or unavailability of older, higher air-polluting power plants that generate power when demand for electricity peaks. Simple-cycle combustion turbines (known as peaking units) are used to meet peak power demand during the summer, which is typically the worst air quality period.
The retirement of downstate fossil fuel-fired peaking generation units without the addition of any new fossil-fuelled power plants is a significant, first step towards achieving New York’s clean energy future. The TRACE projects will also open pathways for the delivery of upstate and offshore renewable generation to the State’s largest concentration of population and demand for energy.
Source: T&D World
#investment#New York#The New York State Public Service Commission