BIA Endorses Northern Pass, Urges SEC Reconsideration

After remaining neutral on Northern Pass since first proposed in 2010 (and all other energy infrastructure projects), the board of directors of the Business and Industry Association, New Hampshire’s statewide chamber of commerce, voted last week to endorse the Northern Pass transmission project.  Further, the board voted to urge reconsideration of the project by the New Hampshire Site Evaluation Committee.

“Given ISO New England’s recent analysis predicting the need for emergency measures in just a few years – including rolling blackouts throughout the region – combined with recent retirement of electric generation assets and planned retirements, it’s clear Northern Pass is desperately needed to avoid a deepening of our electrical energy crisis,” said BIA President Jim Roche.

The Independent System Operator of New England is the region’s electrical grid operator charged with ensuring the reliable flow of electricity to keep New England’s homes, businesses, and public services up and running.

“New Hampshire’s electrical energy prices are consistently 50-60 percent higher than the national average.  Approximately 30 percent of the region’s generation capacity has already retired or is at risk of retiring over the next few years.  Without Northern Pass and other large energy infrastructure projects, electricity prices in New Hampshire and New England will continue to rise relative to the rest of the country, putting our economy on the razor’s edge of disaster.

“Just a few weeks ago, during the extreme cold weather between Christmas and early January, the region was forced to use over two million barrels of oil to fill gaps in supply. Many oil-fired generators were just days away from running out of fuel,” continued Roche.  “Those who claim New Hampshire can get by without Northern Pass are playing roulette with New Hampshire’s economy.  Already, businesses from outside New Hampshire and others now here have reversed their plans to grow in the state due to the Site Evaluation Committee’s decision.”

Northern Pass would bring 1,090 megawatts of clean hydroelectric energy from Quebec to the region.  Massachusetts ratepayers would pay for the electricity and the transmission to deliver it to New England, yet New Hampshire and the rest of the region would reap benefits because the additional electricity would help stabilize and lower energy prices throughout New England.  New Hampshire’s estimated cost savings would be approximately $60 million annually.

“The SEC needs to reopen the review process and reverse its decision denying the permit to construct Northern Pass.  Its unfortunate decision to prematurely end consideration of the permit puts New Hampshire’s economic future in jeopardy,” concluded Roche.