BOSTON, WALTHAM, Mass., HARTFORD, Conn. and HOUSTON, Feb. 18,
2015 /PRNewswire/ -- Eversource Energy (NYSE: NU),
National Grid (NYSE: NGG), Spectra Energy (NYSE: SE), and Spectra
Energy Partners (NYSE: SEP) today announced that National Grid is
joining Access Northeast, the innovative energy solution for New
England, as a co-developer.
Lack of sufficient natural gas pipeline infrastructure in New
England is driving electricity prices higher, limiting economic
competitiveness and growth, and straining systems to the point
where serious reliability issues threaten public safety and
security. Access Northeast is designed to directly meet these
challenges while providing environmental and economic benefits. The
project will upgrade existing pipeline facilities and market area
storage assets in New England to deliver, on peak days, up to 1
billion cubic feet of natural gas for electric generation markets.
The solution will minimize environmental and community impacts by
maximizing use of existing pipeline and utility corridors and
existing natural gas infrastructure.
"Once Access Northeast is operational, it is projected to save
electric customers an average of $1
billion a year during normal weather conditions and even
more during severe cold weather," said Lee
Olivier, executive vice president of Enterprise Energy
Strategy & Business Development at Eversource. "ICF
International has estimated savings during the extreme 2013-2014
winter could have been $2.5 billion
with Access Northeast in service."
"Our customers are literally paying the price for the pipeline
constraints we have here in New England," said John Flynn, senior vice president, U.S. Business
Development for National Grid. "We are joining Access Northeast to
lower energy costs for our customers and to help improve and
support the region's economic vitality. This project will play a
key role in helping New England achieve a sustainable energy
future."
"We're making great progress toward implementing this critical
solution, which will expand access to much-needed natural gas for
electricity generators in our region," Olivier continued.
"Customers are paying dearly due to pipeline constraints.
Infrastructure improvements are needed to solve the region's
energy challenges and a scalable solution that will enhance
existing pipeline systems has numerous benefits."
Eversource Energy, National Grid, and Spectra Energy this week
issued an ICF International study on the impact that new pipeline
infrastructure proposed by Access Northeast will have on New
England's regional gas and electricity prices. The study concluded
that, under normal conditions, the region could save $0.8 billion to $1.2 billion annually. The study
was performed for Access Northeast and is available here: ICF
International: Access Northeast Project – Reliability Benefits and
Energy Cost Savings to New England.
"Access Northeast will meet New England's natural gas needs with
limited pipeline system expansions and key local storage facilities
to handle consumer demand on peak days," said Bill Yardley, Spectra Energy's president of U.S.
Transmission and Storage. "We're providing a solution that will
keep homes warm, keep the lights on, and keep costs down, even on
the coldest days."
"This project will make a real impact solving the region's
energy challenges. Together, the Access Northeast developers serve
70 percent of the region's electricity consumers and the pipelines
involved already connect directly to 70 percent of the region's
gas-fired electric generation on their existing corridors," Yardley
continued. "Natural gas will get to the plants it needs to, when it
needs to."
Access Northeast will enhance the Algonquin and Maritimes
pipeline systems, which directly connect to approximately 60
percent of New England's gas-fired electric generation. The
developers have formed an alliance with Iroquois Gas Transmission
to enhance this already strategic footprint further, bringing the
number of New England gas-fired generators served to more than 70
percent. Simply put, natural gas will get to the region's key,
efficient power plants, along mostly existing pipeline and utility
corridors.
The developers have executed Memoranda of Understanding with
seven electric distribution companies to advance the project and
seek all regulatory approvals in an effort to lower electricity
costs:
- Eversource's four electric distribution companies in
Massachusetts, Connecticut and New
Hampshire.
- National Grid's three electric distribution companies in
Massachusetts and Rhode Island.
The Access Northeast developers will be identifying other
electric distribution companies across the region wishing to
participate.
The open season announced today, with a May 1, 2015 closing date, will enable other
potential customers, including local gas distribution companies,
power generators and other parties, to request additional natural
gas capacity as part of the project. By June
30, 2015, Access Northeast expects to have definitive
agreements with all parties interested in participating. The
project has an anticipated in-service date of November 2018.
During this open season, those wishing to transport natural gas
via the Access Northeast project will be able to select from
multiple receipt point options that provide direct access to
low-cost, domestic natural gas supplies. These points are along the
Algonquin pipeline system and the Iroquois pipeline system at
Wright, NY. Additionally, shippers will have the opportunity to
choose from Algonquin's diverse receipt points with other existing
interconnecting pipelines: Texas Eastern, Millennium, Tennessee Gas
Pipeline, Columbia Gas, and Transco; as well as future connections.
Interested parties may contact Spectra Energy's Greg Crisp, at 713-627-4611, to seek additional
information.
Access Northeast will continue to bolster New England's trend of
reduced carbon emissions. Additional carbon reductions will come
both as customers continue to switch to cleaner-burning natural gas
and because the project will further enable renewable energy
resources as they are integrated into the bulk power system.
Access Northeast gas service will also provide year-round benefits
through increased gas availability with a service that complements
the quick start capabilities of natural gas-fired generators.
Access Northeast representatives will host a teleconference to
discuss the project and answer media questions at 9:30 a.m. ET today, Wednesday, February 18, 2015. News media wishing
to participate may register and obtain call-in information by
contacting Phil West, at
prwest@spectraenergy.com, prior to the call.
Please see further details at the Access Northeast website:
www.AccessNortheastEnergy.com.
Forward Looking Statements
This release contains "forward-looking statements" as
defined by federal law. Although the companies believe any such
statements are based on reasonable assumptions, there is no
assurance that actual results will not be materially different. Any
such statements are made in reliance on the "safe harbor"
protections provided under the Private Securities Reform Act of
1995. Additional information about issues that could lead to
material changes in performance is contained in the companies'
annual reports and other filings that the companies
make with the Securities and Exchange Commission.
About Eversource Energy
Eversource, formerly Northeast Utilities (NYSE: NU),
transmits and delivers electricity and natural gas to more than 3.6
million electric and natural gas customers in Connecticut, Massachusetts and New Hampshire. For more information, please
visit our website (www.eversource.com) and follow us on Twitter
(@EversourceCorp) and Facebook (facebook.com/EversourceEnergy).
About National Grid
National Grid (LSE: NG; NYSE: NGG) is an electricity and natural
gas delivery company that connects nearly 7 million customers to
vital energy sources through its networks in New York, Massachusetts and Rhode Island. It is the largest distributor of
natural gas in the Northeast. National Grid also operates the
systems that deliver gas and electricity across Great Britain.
Through its U.S. Connect21 strategy, National Grid is
transforming its electricity and natural gas networks to support
the 21st century digital economy with smarter, cleaner, and more
resilient energy solutions. Connect21 is vital to our communities'
long-term economic and environmental health and aligns with
regulatory initiatives in New York
(REV: Reforming the Energy Vision) and Massachusetts (Grid Modernization).
For more information please visit our website, or
our Connecting website, follow us
on Twitter, watch us on YouTube, friend us
on Facebook, find our photos
on Instagram
About Spectra Energy and Spectra Energy Partners
Spectra Energy Corp (NYSE: SE), a FORTUNE 500 company, is one of
North America's leading pipeline
and midstream companies. Based in Houston, Texas, the company's operations in
the United States and Canada include more than 22,000 miles of
natural gas, natural gas liquids, and crude oil pipelines;
approximately 305 billion cubic feet (Bcf) of natural gas storage;
4.8 million barrels of crude oil storage; as well as natural gas
gathering, processing, and local distribution operations. Spectra
Energy is the general partner of Spectra Energy Partners (NYSE:
SEP), one of the largest pipeline master limited partnerships in
the United States and owner of the
natural gas, natural gas liquids, and crude oil assets in Spectra
Energy's U.S. portfolio. Spectra Energy also has a 50 percent
ownership in DCP Midstream, the largest producer of natural gas
liquids and the largest natural gas processor in the United States. Spectra Energy has served
North American customers and communities for more than a century.
The company's longstanding values are recognized through its
inclusion in the Dow Jones Sustainability World and North America
Indexes and the CDP S&P 500 Climate Disclosure and Performance
Leadership Indexes. For more information, visit
www.spectraenergy.com and www.spectraenergypartners.com.
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SOURCE Spectra Energy Corp; Spectra Energy Partners; National
Grid; Eversource Energy