The NECPL project is a fully buried 1000MW HVDC transmission line that will connect Eastern Canada and New England as part of the region's transition to renewable energy. The project can move energy between Eastern Canada and New England in both directions. Once the New England offshore wind industry grows to its full potential over the next decade, it will carry the expected excess wind energy generated in New England to be "stored" in Eastern Canada reservoirs. The energy will be returned months later during periods when renewable supply cannot meet demand in New England. The bidirectional capability between the markets has been studied and determined to be the lowest cost solution to economically build out the clean New England grid of the future. The buried project will travel underground in waterways and already disturbed ROWs through its host state of Vermont where it is widely supported by communities, environmental stakeholders and elected officials including the Governor.
During the forty year life of the Project, TDI-NE is expected to make the following lease and tax payments to the State of Vermont:
VT Property Taxes: $274 Million
VT Corporate Income Taxes: $414 Million
VT Sales Tax (construction period only): $31 Million
VTrans Lease Payments for use of Right-of-Way: $212 Million
Testimony provided by Kavet Rockler & Associates, LLC and TDI-NE indicates during the three year construction period the following economic benefits are expected:
The creation of almost 500 annual direct and indirect jobs in Vermont and over 200 additional jobs in New England
Direct NECPL Employment Expenditures: $83 Million in Vermont
Direct NECPL Non-Employment Expenditures: $101 Million in Vermont
Testimony provided by Levitan & Associates, Inc., Kavet Rockler and TDI-NE indicate the following economic benefits are expected during the operating phase of NECPL:
The creation of over 200 annual direct and indirect jobs in Vermont and over 1,900 additional annual jobs in New England.
Total energy savings for Vermont ratepayers: $245 Million (first ten years of operations)
Total energy savings for New England ratepayers: $1.9 Billion (first ten years of operations)
Direct NECPL Employment Expenditures: $158 Million in Vermont (forty years)
Direct NECPL Non-Employment Expenditures: $152 Million in Vermont (forty years)
Vermont electric ratepayers will receive an additional $136 million reduction in transmission costs, funded through payments to Vermont Electric Power Company (VELCO) at an initial rate of $2.5 million a year escalating at 1.5% for the 40-year life of the project.
Environmental
The Project will contribute $202 million to the State Clean Water Fund, paid at a rate of $5 million annually over forty years after two initial $1 million payments.
The Project will create a $61 million Fund to support habitat restoration and recreational improvements in Lake Champlain, paid at a rate of $1.5 million per year over forty years after an initial $1 million payment.
The Project will contribute $109 million to Vermont's Clean Energy Development Fund, paid at a rate of $5 million annually during the first 20 years of the life of the project, with the remainder paid out during the subsequent 20 years. Funds can be used to support in-state renewable development.
The Project is proposed to be buried along existing road and railroad rights-of-way that are already maintained for transportation and/or utility purposes.
The Project supports the New England governors' efforts to import low-cost, clean, reliable power and provides an alternative to Natural Gas generation.
The Project will offset up to 3.3 million tons of CO2 annually.
The Project will be built to the highest environmental standards to protect Lake Champlain, Vermont's natural resources, and local communities. The transmission cable is solid state and contains no liquids or gases.
Reliability
The Project will enhance the region's fuel diversity by bringing hydroelectric power to the ISO-NE System.
The Project will strengthen and diversify the Vermont and New England electric grid
The buried HVdc cables are protected from natural disasters
“Black Start” capability can quickly restart the electric grid in case of a blackout
View a Map of the Proposed Route
