The Independence Energy Connection project is expected to save consumers $600 million in energy costs
Columbus, OH /PRNewswire/ - Transource Energy, a partnership between American Electric Power (NYSE: AEP) and Great Plains Energy (NYSE: GXP), today announced plans to develop the Independence Energy Connection (IEC), a new overhead electric transmission project in Pennsylvania and Maryland, to increase consumer access to more affordable power in the region.
PJM Interconnection, the regional transmission organization responsible for managing the high-voltage electricity grid for 13 states, including Maryland and Pennsylvania, identified concerns with the delivery of electricity to the region and reviewed solutions proposed by competitive transmission companies. PJM selected Transource's solution to address the market-efficiency issues and awarded construction of the project to the company in August 2016.
Totaling $320 million, the project will connect to two existing 500-kilovolt (kV) transmission lines in Pennsylvania and provide two new additional pathways for electricity to alleviate electric gridlock. PJM estimates that the project will save the region's customers $600 million in electric costs over the next 15 years.
The project's electric system upgrades include approximately 40 miles of new 230 kV overhead transmission lines, two new substations and additional upgrades to integrate the facilities into the grid.
Transource is hosting public open houses to solicit feedback on preliminary study segments. The open houses will be set up as a workshop so attendees can talk with Transource team members, learn about the project, review maps and provide input. There is no formal presentation, so attendees are welcome to come at any point throughout the evening.
"Gathering input from people in the project area is important as we build facilities," said Todd Burns, Transource director. "These open house events provide the opportunity for us to meet with residents, talk about the project, gather feedback and be available in person to answer their questions."
The open houses are scheduled for:
Based on the input from the initial open house events, Transource will narrow the list of potential study segments and host a second set of open house events before identifying proposed routes for the new transmission lines. The company plans to file applications to construct the project with state regulators by the end of the year.
IEC is expected to be completed in mid-2020. Additional information can be found on the project website at www.TransourceEnergy.com/Projects/Independence.
Transource® is a partnership between American Electric Power (AEP) and Great Plains Energy (GPE) focused on the development of, and investment in, competitive electric transmission projects across the United States. In all, AEP and GPE own and operate nearly 45,000 miles of transmission lines and have more than 100 years of expertise in the planning, design, engineering, construction and operation of transmission systems. AEP owns 86.5 percent of Transource. GPE owns 13.5. Transource is a member of three regional transmission organizations — PJM Interconnection, the Midwest Independent System Operator (MISO) and the Southwest Power Pool (SPP) — which together serve all or part of 28 U.S. states, the District of Columbia and the province of Manitoba in Canada. Headquartered in Columbus, Ohio, Transource also has offices in Kansas City, Missouri; Tulsa, Oklahoma; and Dallas, Texas.
SOURCE: Transource EnergyCopyright 2017 PR Newswire. All Rights Reserved