National Grid, Bangor Hydro Seek FERC Approval on Funding Approach for Proposed New Transmission Line to Bring Renewable Energy from Maine to Massachusetts

National Grid and Emera Inc. subsidiary, Bangor Hydro Electric Company, have taken a major step in advancing the Northeast Energy Link transmission project by filing today with the Federal Energy Regulatory Commission for approval of its funding approach for the proposed project. Today's filing seeks confirmation that the companies' sale of transmission capacity is consistent with FERC's Open Access policies. Under the proposed participant funding approach, renewable energy generators would pay to use NEL's transmission capacity. The NEL, as currently proposed, is a new underground transmission line that would stretch approximately 220 miles from northern Maine to northeastern Massachusetts by 2016. The new line will provide a critical connection to the vast renewable and carbon-neutral energy resources of northern and eastern Maine and eastern Canada. “This proposed project is yet another example of National Grid's commitment to and leadership in expanding the region's portfolio of clean energy resources,” said Tom King, president, National Grid USA. “Having access to the significant renewable and carbon-neutral energy resources in Maine and eastern Canada makes this a huge win for New England energy consumers, who will enjoy the benefits of cost-competitive, clean and reliable energy for years to come.”