EAST BRUNSWICK, N.J., Aug. 5, 2016 /PRNewswire/ -- On Friday August 5, 2016, LS Power subsidiary Northeast Transmission Development, LLC (Northeast Transmission) was made aware of the PJM Board's action to temporarily suspend the development of all elements of the Artificial Island Project, including the new 230-kilovolt transmission line Northeast Transmission has been designated to construct, until PJM staff has determined the impact of recently-identified modeling errors associated with certain proposed system protection and control upgrades related to the Project. PJM has stated that this analysis will be completed by February 2017.
The modeling errors in question do not relate to Northeast Transmission's designated portion of the Artificial Island Project and Northeast Transmission was not involved the associated modeling activities. Northeast Transmission was surprised by the PJM Board's decision as Northeast Transmission had received no indication prior to the announcement from PJM on August 5 that PJM had any concerns with PJM's or PSE&G's modeling of the system protection and control upgrades.
As the Designated Entity for the transmission line portion of the Artificial Island Project, Northeast Transmission was disappointed to learn of the temporary suspension of activities related to the Project. Northeast Transmission looks forward to fully understanding PJM's modeling concerns and working with PJM and others to address those concerns and ultimately moving forward with construction of the critically-needed Artificial Island transmission line pursuant to the existing Designated Entity Agreement between Northeast Transmission and PJM.
About Northeast Transmission
Northeast Transmission is a wholly-owned subsidiary of LS Power formed to pursue transmission development opportunities within PJM. Following an extensive competitive process, on July 28, 2015, PJM selected Northeast Transmission to construct a portion of the Artificial Island Project, including the 230-kilovolt transmission that will cross the Delaware River. Northeast Transmission and PJM entered into a Designated Entity Agreement covering Northeast Transmission's portion of the Project, which was accepted by FERC on January 29, 2016 and assigned an effective date of October 29, 2015.
About LS Power
Founded in 1990, LS Power is an employee-owned, independent power company with offices in New York, New Jersey, Missouri, California and Texas. LS Power is a developer, owner, operator and investor in power generation and transmission infrastructure throughout the United States. Since inception, LS Power has developed, constructed, managed or acquired more than 30,000 MW of competitive power generation and over 500 miles of transmission infrastructure, for which it has raised over $30 billion in debt and equity financing. For more information, please visit www.LSPower.com
Casey Carroll (636) 532-2200
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SOURCE LS Power