Hartford conglomerate Northeast Utilities plans to spend $4.3 billion on transmission infrastructure improvements between 2013-2017, a 15 percent increase from its previous projections.
NU, in a presentation to analysts, sees a lot of potential in bringing electricity from renewable resources in northern New England to the more populated southern areas of New England. The company specifically cited its Northern Pass proposal to bring Canadian hydropower via a transmission line in New Hampshire, and new transmission lines to link wind farms in Maine.
The presentation follows an announcement by the six New England governors to work together in order to build more electric transmission lines and natural gas pipelines to the region.
The $4.3 billion NU plans to invest over those five years is equal to the amount it spent from 2002-2012.
In the presentation, NU said it expects Northern Pass to be in service by 2017.
Northeast Utilities is headquartered in Hartford and Boston and is the parent company for six electric and natural gas utilities, including Connecticut Light & Power and Yankee Gas.
