Iberdrola USA (IBDSF.PK) and Central Maine Power Company (CMP) launched two projects with investments totaling more than $1.5 billion that will have a major impact on Maine’s electricity delivery system.
The Maine Power Reliability Program (MPRP) is expected to support the development of new renewable energy resources and help ensure long-term reliability for customers by increasing the capacity and efficiency of the New England’s transmission grid.
The project is the largest energy infrastructure project in the state’s
history, and the first upgrade of its electricity grid in 40 years.
It includes the construction of five new 345-kilovolt substations
and related facilities linked by approximately 450 miles of new or
rebuilt transmission lines. The southern end of the line ties into the
New England grid near the New Hampshire border. It passes through 75
cities and towns, and the northern end interconnects with transmission
lines from Canada in the central Maine town of Orrington.
The project is scheduled for completion in 2015, will support
up to 2,000 jobs annually during the five-year construction phase, with a
peak of over 3,000, and contribute significantly to the Maine economy.
Iberdrola and CMP also will install 620,000 advanced
electricity meters for CMP customers as part of a new smart grid program
to be developed over the next two years. This $166 million project,
covered in part by a grant from the U.S. Department of Energy (DOE),
will enable CMP customers to access pricing and usage information
through a web portal so they can better manage energy use and cost.
Further, it will mean operational efficiencies and cost reductions
related to billing, account opening and closings, and credit and
collections as well as instantaneous meter reading.
The advanced meters will provide customers with continuous, real-time
information on electrical usage and enable suppliers to offer consumers
new options for variable pricing or time-of-use rates. Studies have
shown that consumers will use electricity more efficiently when they
have real-time information about usage and price. The new meters will be
will also help the company reduce costs, enhance system planning, and
pinpoint problems more quickly during outages.
“Today marks a major milestone for Iberdrola USA and Maine,” Iberdrola USA CEO Bob Kump said. “Both the transmission project and the advanced meters will yield significant benefits in terms of reliability. Just as importantly, because the transmission project is a foundation for the development of renewable energy and the smart grid program will help customers reduce energy consumption, these projects are about protecting the environment for future generations.”
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