Boston, July 7, 2009 — CRA International, a firm providing management, economic and financial consulting services, will help develop an electrical transmission plan for New York City.
CRA was retained by the New York City Economic Development Corporation to analyze the economic and environmental impacts of transmission and generation projects that could improve the supply of power to New York City.
The study also provides recommendations for further action to meet New York City’s energy needs in an efficient and clean manner. It was conducted in coordination with the local electric utilities, state regulatory agencies for New York and New Jersey, and state and regional agencies responsible for managing the power grid.
The team analyzed historical transmission congestion and market conditions, designed a methodology with stakeholders, collaboratively identified potential solutions, and analyzed projects according to multiple metrics and criteria, both economic and environmental. The study concluded that:
- Due to a projected surplus of generating capacity in New York City over the next several years, decision-makers have adequate time to evaluate options and choose the right path forward
- From the consumer’s perspective, a new, highly-efficient and clean in-city power plant was judged superior to the transmission projects analyzed
- A new in-city power plant would reduce market prices, create jobs, increase tax revenues and reduce environmental emissions by displacing the output of older, less efficient in-city plants
- Other projects that could create significant benefits to the region include a proposed transmission upgrade project from Albany to Westchester County, and a proposed transmission cable under the Hudson River from Northern New Jersey to midtown Manhattan
The study also identifies numerous projects to supply New York City’s energy needs, including offshore wind farms, large transmission lines, conventional generating technologies, and increased imports from other states and regions.