Governors of the six New England states announced Friday a regional commitment to accelerate renewable energy investments.
“To ensure a reliable, affordable and diverse energy system, we need investments in additional energy efficiency, renewable generation, natural gas pipelines, and electric transmission,” the governors said in a press release. “These investments will also serve to balance intermittent generation, reduce peak demand, and displace some of the least efficient and most polluting fossil fuel generation, enabling the states to meet clean energy and greenhouse gas reduction goals.”
Over the next few months, staff members appointed by the governors will develop a regional strategy to reduce energy costs and carbon emissions. The group will work through the the New England States Committee on Electricity, in cooperation with ISO-New England, the operator of the region’s electric grid network.
Touted as an economic development initiative, the partnership will allow the region to expand its energy portfolio, create jobs and reduce costs. Representatives from the Connecticut Business and Industry Association have praised the initiative, in hopes it will bring down the cost of doing business in Connecticut.
The governors agreed to split the costs, as appropriate.
“As the region’s electric and natural gas systems have become increasingly interdependent, ensuring that we are efficiently using existing resources and securing additional clean energy supplies will be critical to New England’s economic future,” the governors said.