Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Extreme weather, project delays may challenge NY power grid in 2021-2030- operator

Published 12/03/2021, 08:32 PM
Updated 12/03/2021, 08:35 PM
© Reuters. FILE PHOTO: The haze shrouded skyline of New York is a backdrop for a boat moving up the Hudson River in Hoboken, New Jersey August 3, 2006. REUTERS/Gary Hershorn

(Reuters) - New York's power grid could face challenges in the 2021-2030 period, including higher demand spurred by extreme weather and delays in planned projects, the state's power grid operator said on Friday.

The New York Independent System Operator (NYISO), in its comprehensive reliability plan https://www.nyiso.com/documents/20142/2248481/2021-2030-Comprehensive-Reliability-Plan.pdf/99a4a589-7a80-13f6-1864-d5a4b698b916 (CRP), also said during normal weather conditions its power system is expected to meet all applicable reliability standards during that period.

U.S. and North American energy regulators, in September, issued recommendations and mandatory electric reliability standards for utilities to prevent a repeat of February's deadly power outages in Texas during a deep freeze.

"The baseline analysis of normal weather and limited generation outages shows a positive but narrowing transmission security margin across the ten-year period," the grid operator said.

"However, higher electric demands due to extreme weather conditions combined with the impact of additional forced generation outages would result in deficiencies to reliably serve consumers in New York City in many of the years."

Any delay in planned transmission projects may also impact the grid's ability to meet power demand during this period, it added.

"The latest study demonstrates that our reliability margins are thinning to concerning levels beginning in 2023," said Zach Smith, Vice President of System & Resource Planning at NYSIO.

© Reuters. FILE PHOTO: The haze shrouded skyline of New York is a backdrop for a boat moving up the Hudson River in Hoboken, New Jersey August 3, 2006. REUTERS/Gary Hershorn

The operator outlined that additional transmission facilities, increased energy efficiency and demand response along with integration of distributed energy resources could help mitigate the risks.

In the longer term, the NYSIO said mandates to produce 70% of the state's electricity from renewable resources by 2030 and reach 100% emissions-free electricity supply by 2040 could be challenged by climate change and variability of output from wind and solar resources.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.