As a partner of New York Transco, LLC, Con Edison Transmission (CET) is developing a portfolio of transmission upgrade projects in New York State to fulfill the goals of the New York Energy Highway Initiative. The New York Transmission Owners (Central Hudson, Con Edison, National Grid, New York State Electric & Gas, Orange and Rockland Utilities and Rockland Gas and Electric) along with New York Transco have submitted nine enhanced and innovative transmission line proposals to the New York Public Service Commission.
County Line Wind and Maine Power Express have partnered to bid clean energy from Maine into the Massachusetts Clean Energy RFP. County Line Wind is a 630 MW wind facility located on forestry lands in Penobscot and Aroostook Counties in northern Maine. The Maine Power Express (MPX), is a proposed 1,040 MW HVDC transmission line to be 100% buried underground in an existing energy corridor and underwater, direct to Boston, MA. MPX is a partnership of Maine Power Express, LLC, and Con Edison Transmission, Inc. The Massachusetts Clean Energy RFP calls for up to 20-year PPA for delivered renewable energy. The request for proposals was issued by the Massachusetts Department of Energy Resources for clean energy projects pursuant to legislation. Bids were submitted on July 27th and projects are expected to be selected in January, 2018. Both projects are proposed to go into full operations in 2022.
CET operates Con Edison Gas Pipeline and Storage, LLC, which invests in gas pipeline and storage businesses.
In January of 2016, Con Edison Transmission announced its first investment in the natural gas infrastructure with the Mountain Valley Pipeline, a new project that will deliver natural gas to the northeast and southeast markets when it is completed in 2018. As proposed, the project is a 2 billion cubic feet per day natural gas pipeline system that spans approximately 301 miles from northwestern West Virginia to southern Virginia as an interstate pipeline that will be regulated by the Federal Energy Regulatory Commission (FERC). The agreement has 20-year fixed-price agreements for the pipeline's entire capacity rights.
CET formed a joint venture with Crestwood Equity Partners, known as Stagecoach Gas Services. The joint-venture assets provides a critical link between natural gas supply and the high demand for gas in the Northeast. Stagecoach Gas Services operates 41 billion cubic feet of storage capacity and approximately 185 miles of pipeline. CET purchased the 50-percent equity interest in the Pennsylvania-Southern New York gas pipeline and storage business for about $975 million, with an implied market value of almost $2 billion.
Honeoye Gas Storage is a 6.7 Bcf natural gas storage field located in Ontario County, New York. Honeoye has operated as a FERC regulated facility since 1975 and provides contracted storage services to major Northeast utilities. The storage field, a Medina age reservoir found at a depth of 27,500 feet, covers an area that is about 12 miles east-west and six miles north-south. There are 27 operating wells, 12 observation wells, 19 miles of gathering lines, 27,500 hp of compression and a 10.5 mile pipeline running north to the Tennessee Gas Pipeline. Con Edison Transmission owns a 71.2% stake in Honeoye Gas Storage.