Toronto, July 6, 2010 — Transmission Developers announced an important milestone in the development of the Champlain Hudson Power Express.
The project — an innovative power transmission line that will bring safe, secure, affordable, renewable power to the U.S. — has received authorization from the Federal Energy Regulatory Commission to charge negotiated rates for the sale of transmission rights on the proposed line.
In the FERC order, the commission noted that the CHPE project is one of the longest and highest capacity high voltage direct current systems in the world.
The project will utilize submarine or underground cables and FERC acknowledged the project’s ability to provide economic benefits to historically congested power markets.
In recognition of the unique characteristics of the project, FERC authorized CHPE to seek up to 75 percent pre-subscription from anchor customers.
Donald Jessome, President and CEO of TDI said, “We greatly appreciate FERC’s efforts to work with developers to implement policies that will promote the creation of new transmission facilities in the U.S.
The CHPE was announced in February 2010. The line will originate at the U.S.-Canadian border and deliver primarily new sources of hydro and wind power.
This renewable power will help meet growing demand, increase the security of the electric grid, and reduce energy costs for consumers and businesses.