Boston-based CRA International Inc. (CRA), a management, economic and financial consulting firm, has helped to develop a master electrical transmission plan for New York City.
CRA was retained by the New York City Economic Development Corp. (NYCEDC) to analyze the economic and environmental impacts of various proposed and conceptual transmission and generation projects that could improve the supply of power to New York City.
The study, titled ‘A Master Electrical Transmission Plan for New York City’, 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 CRA team analyzed specific commercial projects proposed in New York City and the region, upgrades to current transmission and electric generation sources, and conceptual projects that could meet future needs.
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 included the following conclusions:
– 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; and
– 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.
For more information, visit crai.com.
SOURCE: CRA International Inc.