Vermont Business Magazine More than 4,200 megawatts of generating capacity (primarily coal, oil, and nuclear) have retired or announced plans to retire since 2013, and more retirements are likely in the New England region, according to the just-released ISO New England 2017 Regional Electricity Outlook. The Vermont Yankee nuclear power plant in Vernon, which closed at the end of 2014, had produced over 600 megawatts of electricity. ISO also reports that the regional electric demand is going down and is expected to continue on that trend, with Vermont expected to need 0.6 percent less electricity by 2025. ISO also expects the region to add significant solar electric generation.
More than 4,200 megawatts (MW)—an amount equal to almost 15% of the region’s current generating capacity—will have shut down between 2012 and 2020 and is being replaced primarily by new natural-gas-fired plants. The upcoming closures of just two of those resources—Brayton Point Station in May 2017 and Pilgrim Nuclear Power Station by May 2019—will remove 2,200MW of non-gas-fired capacity. Over 5,500 MW of additional oil and coal capacity are at risk for retirement in coming years, and uncertainty surrounds the future of 3,300MW from the region’s remaining nuclearplants.
ISO New England has published its 2017 Regional Electricity Outlook (REO), an annual report looking at the challenges and trends impacting New England’s power system, as well as the innovative solutions the ISO and regional stakeholders are pursuing to ensure reliable electricity for the region’s homes and businesses—today and into the future. ISO New England Inc. is the operator of the region’s bulk power system and wholesale electricity markets.
The report looks back on the changes in New England’s electricity industry over the past two decades and explores the changes currently underway in New England’s electricity industry:
- In the 20 years since ISO New England was created, the region’s power grid has been transformed through the use of competitive wholesale markets and investment in transmission, leading to enhanced reliability and cost-effective pricing: http://www.iso-ne.com/about/regional-electricity-outlook/20-years-of-iso-new-england
- As the region’s electricity industry continues to evolve towards a hybrid grid of renewable and natural gas resources, ISO New England is working to keep the region on the leading edge: http://www.iso-ne.com/about/regional-electricity-outlook/working-toward-a-smarter-greener-grid
- New England states’ initiatives to support the adoption of clean energy may inadvertently undermine the marketplace’s ability to attract and sustain needed power resources: http://www.iso-ne.com/about/regional-electricity-outlook/grid-in-transition-opportunities-and-challenges/public-policies-and-markets
· The ability of power plants to secure fuel, particularly during the winter, remains a concern for the region, resulting in price volatility and threatening grid reliability: http://www.iso-ne.com/about/regional-electricity-outlook/grid-in-transition-opportunities-and-challenges/natural-gas-infrastructure-constraints
Source: Holyoke, MA—February 21, 2017— ISO.