Regional Power Operator Provides Brief on State of Grid
New England's electricity grid operator said natural gas pipeline bottlenecks and retirement of aging power plants could put pressure on the price of energy.
Gordon van Welie, president and chief executive officer of ISO-New England, the region's Massachusetts-based power grid operator, said Wednesday that the region has benefited from transmission system upgrades since 2002.
Van Welie said at the grid operator's annual briefing to the media that a mild winter and falling oil prices have so far helped push down energy prices. But winter has eight weeks to go, and energy use and prices could spike.
Power plants are increasingly relying on natural gas, boosting demand that has led to pipeline bottlenecks, which have led to price increases. The region is also losing several non-gas energy resources.
Connecticut and Rhode Island regulators have approved electricity rate increases due to rising natural gas demand and the need to account for higher costs.
This report includes information from The Associated Press.