Green Line Overview. system with transfer capability of 660 MW or more (e.g.,1200 MW) miles submarine cable, 1 foot in diameter)

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1 A North-South HVDC Submarine Transmission Project to Serve the Northeast Energy Markets To be Developed by New England Independent Transmission Company, LLC Environmental Business Council of New England EBC Energy Seminar: New Transmission The Key to Renewable Energy Integration in New England April 2,

2 Green Line Overview o 500 kv DC transmission system with transfer capability of 660 MW or more (e.g.,1200 MW) o Manageable distance (~ 140 miles submarine cable, 1 foot in diameter) o Interconnected between Maine Yankee Substation in Maine and K Street Substation in South Boston at 345 kv with Option to interconnect to locations south of Boston. o Gives market access to Maine, northern NH, and Maritimes renewable resources. 2

3 Green Line Team Experience o Proposed by New England Independent Transmission Company, LLC o Principals are the main developers behind the Neptune and Hudson Projects o Neptune Project: $600+ million, independent HVDC transmission system linking New Jersey and Long Island Operational Completed July On time and on budget. o Hudson Transmission Project: from New Jersey to West 49 th St in Manhattan. Selected by NYPA and under development

4 New England REC Demand/Supply Outlook o New England s demand for renewable resources through aggressive RPS programs, particularly in Massachusetts and Connecticut, is a driver of renewable resource development in New England o New resources from northern New England and eastern Canada will be needed to meet demand o Transmission will need to be developed to support the growth o A copy of the full report by Energy Security Analysis, Inc. is available on the Green Line web site at /industry/ 4

5 Integration with NE Grid o Reliability Upgrades to the ISO-NE Grid accomplished with the Maine Power Reliability Program (MPRP) will support the Green Line o Interface constraints at Orrington are relieved allowing energy to flow from northern Maine and eastern Canada south to Wiscasset o MPRP studies show Green Line compatible with upgrades o Studies show Boston s K Street Substation able to absorb 600 MWs 5

6 Green Line Development History o Green Line Concept Spring 2006 Question # 1 Who pays? o Submitted to ISO-NE with FERC Filing December 2006 o FERC Order Finding NEITC independent and capable February 2007 o ISO-NE Scenario Analysis Transmission needed to support imports from beyond the load centers. o Order 890 Attachment K Economic Needs Assessment December 2007 ISO-NE compliance filing with FERC o December 2007 HVDC Day Nine proposals. o March 2008 Economic Study Requests 12 Proposals 5 HVDC projects o Attachment N-K Working Group convenes March 2008 o 2008 Cost Allocation for Economic Projects opened to question o Late 2008: HQ-NU-NStar file with FERC for approval of 1200MW transmission line from Quebec to southern New Hampshire o Transmission bundled with Generation in a package deal 6

7 Green Line Today o NU-NStar-HQ FERC filing a Game Changing step in the right direction: o It is a deal as requested by Mass regulators encompassing supply, and transmission to southern NH o It envisions a power purchase agreement (PPA) which we agree is the key to financing infrastructure o Supplier pays, sort of. We all know the cost of the transmission line is embedded in the deal so, ultimately, consumer pays. o The only thing needed to make this proposal a BIG step in the right direction is COMPETITION. 7

8 Green Line Today o Competition in Transmission and associated renewables development o Put states in the position to drive energy & environmental policies o Whether under regional or federal RPS requirements, we are massively increasing the demand for renewables, and for transmission. o As always, if we are going to spend scores of billions of dollars on transmission, it will be useful to spend that money pursuant to open, competitive and intelligent Requests for Proposals. o Should Massachusetts opens its 1,200MW procurement to competition as we think it will to assure that the opportunity to supply renewables (RPS and/or low carbon) is open to all it will receive a number of compelling bids: 1. The Quebec-NU-NStar Proposal: 1200 MWs of mostly Canadian, large scale hydro delivered to NH then to load centers. 2. A Green Line proposal: 1200MWs of mostly Maine renewables (with NB energy via beefed up interconnections) delivered to Boston and the Cape. 3. An offshore wind proposal (from mostly offshore Massachusetts suppliers?) o Let the best project most buildable, best credit, best mix of renewables win! 8

9 Contact Stephen Conant Senior Vice President New England Independent Transmission Company, LLC 401 Edgewater Place, Suite 640 Wakefield, Massachusetts Telephone