National Grid will invest $35 billion in Massachusetts, New York power grids

Posted on May 29, 2024 by Dave Kovaleski

National Grid plans to invest $75 billion over the next five years across the company’s UK and US service area, about half of which will go to its US operations.

The company will spend about $35 billion on improvements to U.S. energy systems in Massachusetts and New York. This represents an increase of over 60 per cent in National Grid investment in the region over the last five years. By the end of the decade, this investment will create 127,000 jobs.

“Today’s announcement clearly demonstrates that National Grid is committed to playing our part in achieving the ambitious decarbonization goals set by the governments of New York and Massachusetts. The increased investment announced today follows positive engagement with our regulators in these states and reflects a desire to modernize electricity networks to ensure affordable long-term energy for all and reduce emissions on our gas networks,” said National Grid Group CEO John Pettigrew.

In New York, National Grid will invest approximately $21 billion between now and 2029. These investments include Upstate Upgrade, which includes more than 70 transmission improvement projects in upstate New York. The projects will transform the grid, improve reliability and resilience, and enable the nation’s grids to deliver renewable energy to homes and businesses.

“This groundbreaking investment will transform the power grid to meet growing energy needs and is a much-needed piece of the puzzle supporting the clean energy transition,” said Rudy Wynter, president of National Grid New York. “The money we spend on these upgrades is essential to bringing renewable energy to homes and businesses across New York.”

In New England, the five-year investment will be approximately $14 billion. As part of this investment, KSE will implement smart meters and build modernized energy infrastructure; build and modernize infrastructure to make it less vulnerable to extreme weather events; and improving the quality of existing gas and transmission assets. Moreover, the proposed Massachusetts Electric Sector Modernization Plan (ESMP) would create a path to expand the electric grid, accelerate the connection of renewable energy sources to the grid, and introduce programs to encourage energy efficiency and clean energy.

“National Grid makes it clear that we are a committed partner in helping Massachusetts achieve its climate and clean energy goals,” said Lisa Wieland, president of National Grid New England. “The investment is essential to transforming the energy ecosystem, building new and expanded infrastructure, and delivering an electricity grid that is fundamentally smarter, stronger, cleaner and more equitable than today.”

A DOE study of national transmission needs found that developing a new transmission on the New York-New England corridor will not only improve reliability but also support growing electricity demand in the region.

A DOE analysis found that the region needs a 255 percent increase in transmission development to support the clean energy expansion expected under New York and Massachusetts policies.