STOCK TITAN

In Case You Missed It: Massachusetts Department of Public Utilities Approves Eversource Electric Sector Modernization Plan

Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
Tags

The Massachusetts Department of Public Utilities (DPU) has approved Eversource's Electric Sector Modernization Plan (ESMP), marking a significant step towards enhancing grid resiliency and reliability while achieving the state's clean energy goals. The plan aims to increase electrification hosting capacity to accommodate 2.5 million electric vehicles, 1 million residential heat pumps, and an additional 2.2 GW of new solar power. Eversource's ESMP also focuses on enhancing grid resiliency in environmental justice communities and increasing the use of local clean energy resources as virtual power plant alternatives.

The approval demonstrates Massachusetts' commitment to a clean energy transition that balances decarbonization objectives with customer affordability. Eversource will collaborate with stakeholders through various forums, including a newly established Community Engagement Stakeholder Advisory Group, to ensure equitable participation in clean energy infrastructure development.

Il Dipartimento dei Servizi Pubblici del Massachusetts (DPU) ha approvato il Piano di Modernizzazione del Settore Elettrico (ESMP) di Eversource, segnando un passo significativo verso il miglioramento della resilienza e dell'affidabilità della rete, mentre si raggiungono gli obiettivi di energia pulita dello stato. Il piano mira ad aumentare la capacità di ospitare l'elettrificazione per accogliere 2,5 milioni di veicoli elettrici, 1 milione di pompe di calore residenziali e ulteriori 2,2 GW di nuova energia solare. L'ESMP di Eversource si concentra anche sul miglioramento della resilienza della rete nelle comunità di giustizia ambientale e sull'incremento dell'uso di risorse locali di energia pulita come alternative a centrali elettriche virtuali.

L'approvazione dimostra l'impegno del Massachusetts verso una transizione energetica pulita che bilancia gli obiettivi di decarbonizzazione con l'affordabilità per i clienti. Eversource collaborerà con i portatori di interessi attraverso vari forum, compreso un nuovo Gruppo di Consulenza per il Coinvolgimento della Comunità, per garantire una partecipazione equa nello sviluppo delle infrastrutture per l'energia pulita.

El Departamento de Servicios Públicos de Massachusetts (DPU) ha aprobado el Plan de Modernización del Sector Eléctrico (ESMP) de Eversource, marcando un paso significativo hacia la mejora de la resiliencia y la fiabilidad de la red, mientras se alcanzan los objetivos de energía limpia del estado. El plan tiene como objetivo incrementar la capacidad de electrificación para acomodar 2,5 millones de vehículos eléctricos, 1 millón de bombas de calor residenciales y 2,2 GW adicionales de nueva energía solar. El ESMP de Eversource también se centra en mejorar la resiliencia de la red en comunidades de justicia ambiental y aumentar el uso de recursos locales de energía limpia como alternativas a plantas de energía virtuales.

La aprobación demuestra el compromiso de Massachusetts con una transición energética limpia que equilibra los objetivos de descarbonización con la asequibilidad para los clientes. Eversource colaborará con las partes interesadas a través de varios foros, incluyendo un recién establecido Grupo Consultivo de Participación Comunitaria, para asegurar una participación equitativa en el desarrollo de infraestructura de energía limpia.

매사추세츠 공공 유틸리티 부서(DPU)는 Eversource의 전기 부문 현대화 계획(ESMP)을 승인했습니다. 이는 전력망의 복원력과 신뢰성을 향상시키는 중요한 이정표로서 주의 청정 에너지 목표를 달성하는 데 기여하고 있습니다. 이 계획의 목표는 전기화 수용 능력을 증가시켜 250만 대의 전기차, 100만 대의 주택용 열펌프 및 22억 와트의 새로운 태양광 발전을 수용하는 것입니다. Eversource의 ESMP는 또한 환경 정의 커뮤니티의 전력망 복원력 증대와 가상 발전소 대안으로서 지역 청정 에너지 자원의 활용을 늘리는 데 중점을 두고 있습니다.

이번 승인은 매사추세츠가 청정 에너지 전환에 대한 의지를 보이고 있으며, 이는 탈탄소화 목표와 고객의 비용 부담 사이에서 균형을 잡고 있습니다. Eversource는 다양한 포럼을 통해 이해 관계자와 협력할 예정이며, 특히 새로 설립된 커뮤니티 참여 자문 그룹을 통해 청정 에너지 인프라 개발에서 공정한 참여를 보장할 것입니다.

Le Département des Services Publics du Massachusetts (DPU) a approuvé le Plan de Modernisation du Secteur Électrique (ESMP) d'Eversource, marquant une étape importante vers l'amélioration de la résilience et de la fiabilité du réseau tout en atteignant les objectifs d'énergie propre de l'État. Le plan vise à augmenter la capacité d'hébergement de l'électrification pour accueillir 2,5 millions de véhicules électriques, 1 million de pompes à chaleur résidentielles, et 2,2 GW supplémentaires de nouvelle énergie solaire. L'ESMP d'Eversource se concentre également sur l'amélioration de la résilience du réseau dans les communautés de justice environnementale et sur l'augmentation de l'utilisation des ressources locales d'énergie propre comme alternatives aux centrales électriques virtuelles.

L'approbation démontre l'engagement du Massachusetts envers une transition énergétique propre qui équilibre les objectifs de décarbonisation avec l'accessibilité pour les clients. Eversource collaborera avec les parties prenantes à travers divers forums, y compris un nouveau Groupe Consultatif sur l'Engagement Communautaire, pour garantir une participation équitable au développement des infrastructures d'énergie propre.

Die Massachusetts Department of Public Utilities (DPU) hat den Modernisierungsplan für den Elektrizitätssektor (ESMP) von Eversource genehmigt, was einen bedeutenden Schritt zur Verbesserung der Widerstandsfähigkeit und Zuverlässigkeit des Stromnetzes darstellt, während die sauberen Energieziele des Bundesstaates erreicht werden. Der Plan zielt darauf ab, die Elektrifizierungsaufnahmefähigkeit zu erhöhen, um 2,5 Millionen Elektrofahrzeuge, 1 Million Wohnwärmepumpen und zusätzlich 2,2 GW neuer Solarenergie aufzunehmen. Eversources ESMP konzentriert sich auch darauf, die Widerstandsfähigkeit des Stromnetzes in Gemeinden mit Umweltgerechtigkeit zu verbessern und den Einsatz lokaler sauberer Energiequellen als Alternativen zu virtuellen Kraftwerken zu erhöhen.

Die Genehmigung zeigt das Engagement von Massachusetts für einen Übergang zu sauberer Energie, der die Ziele der Dekarbonisierung mit der Preisgestaltung für die Kunden in Einklang bringt. Eversource wird mit Stakeholdern in verschiedenen Foren zusammenarbeiten, darunter eine neu gegründete Beratungsgruppe für die Beteiligung der Gemeinschaft, um eine gerechte Teilnahme an der Entwicklung der Infrastruktur für saubere Energie zu gewährleisten.

Positive
  • DPU approval of Eversource's Electric Sector Modernization Plan
  • Plan to increase electrification hosting capacity for 2.5 million EVs, 1 million heat pumps, and 2.2 GW of new solar power
  • Focus on enhancing grid resiliency in environmental justice communities
  • Collaboration with MassCEC to increase use of local clean energy resources as virtual power plant alternatives
  • Establishment of Community Engagement Stakeholder Advisory Group for equitable participation
Negative
  • None.

Eversource ESMP Details Comprehensive Roadmap to Enhance Grid Resiliency and Reliability for Customers, Foster Community Engagement, and Achieve Commonwealth’s Clean Energy Goals

BOSTON--(BUSINESS WIRE)-- Affirming the commonwealth’s leadership on a strategic approach to the clean energy transition, the Massachusetts Department of Public Utilities' (DPU) recently approved Electric Sector Modernization Plans (ESMP) proposed by Eversource and other utilities to develop the clean energy infrastructure needed to meet decarbonization goals while ensuring safe, reliable service for customers. The DPU’s order builds on Massachusetts’ proactive, equity-focused work to advance a sustainable energy future, reflecting a strong commitment to responsibly investing in more resilient, flexible infrastructure to combat the impacts of climate change, enable electrification, increase renewable energy production and meet the future energy needs of customers.

“We appreciate the department’s constructive consideration and the thoughtful collaboration with stakeholders across Massachusetts on our Electric Sector Modernization Plan, which is a transformative roadmap that paves the way for a modernized electric distribution system that strengthens the grid’s resiliency and reliability for our customers while helping meet the commonwealth’s decarbonization goals with enhanced community and stakeholder engagement,” said Eversource Senior Vice President of Engineering and System Planning Digaunto Chatterjee.

The department’s order and Eversource’s ESMP demonstrate a strong commitment to a clean energy future that spurs economic development, creates jobs, and encourages more investment in Massachusetts. Importantly, it also affords all customers effective and equitable opportunities to access and participate in the process to develop clean energy infrastructure projects through multiple forums including the Grid Mod Advisory Council, Equity Working Group, and the establishment of a Community Engagement Stakeholder Advisory Group (CESAG). The newly established CESAG will bring together members from community-based organizations across the state to collaboratively create a statewide stakeholder engagement framework that will be implemented before the development of clean energy projects.

“We are eager to move forward with our ESMP to maintain safe and reliable service as we transition to a clean energy future that ensures meaningful opportunities for all customers to participate in the development of clean energy projects and share in their benefits,” Chatterjee continued. “By investing in innovative technologies and more resilient infrastructure while engaging with our communities, we are committed to supporting the commonwealth's decarbonization goals and ensuring all customers share in our collective progress – reinforcing Massachusetts’ leadership in responsibly advancing a sustainable energy future.”

Among other highlights, Eversource’s ESMP will significantly increase electrification hosting capacity to accommodate 2.5 million electric vehicles, 1 million residential heat pumps, and an additional 2.2 GW of new solar power, which are essential for achieving the commonwealth's ambitious electrification and decarbonization targets. It also focuses on enhancing grid resiliency in environmental justice communities by prioritizing these areas for proactive grid upgrades to mitigate potential future climate impacts. Working collaboratively with the Massachusetts Clean Energy Center (MassCEC) and other stakeholders, Eversource will increase the use of local clean energy resources as virtual power plant (VPP) alternatives to address grid needs, defer system upgrades when possible, and help lower costs for customers.

“As the commonwealth continues to pursue this transformative energy transition, investments in clean energy infrastructure must achieve both equity and decarbonization objectives while focusing on affordability for customers,” said Eversource Vice President for Grid Modernization Jen Schilling. “Collaboration and stakeholder input is at the heart of our ESMP, and we look forward to working with MassCEC on a study to quantify the local reliability value of virtual power plan alternatives.”

More information on Eversource’s ESMP can be found on the company’s website.

Eversource (NYSE: ES), celebrated as a national leader for its corporate citizenship, is among the top energy companies in Newsweek’s list of America’s Most Responsible Companies for 2024 and recognized as a Five-Year Champion, appearing in every edition of the list. Eversource transmits and delivers electricity and natural gas and supplies water to 1.8 million customers throughout Massachusetts, including approximately 1.42 million electric customers in 157 communities, 656,000 gas customers in 122 communities, and 11,500 water customers in five communities. Eversource harnesses the commitment of approximately 9,900 employees across three states to build a single, united company around the mission of safely delivering reliable energy and water with superior customer service. The #1 energy efficiency provider in the nation, the company is empowering a clean energy future in the Northeast, with nationally recognized energy efficiency solutions and successful programs to integrate new clean energy resources like a first-in-the-nation networked geothermal pilot project, solar, offshore wind, electric vehicles and battery storage, into the electric system. For more information, please visit eversource.com, and follow us on X, Facebook, Instagram, and LinkedIn. For more information on our water services, visit aquarionwater.com.

William Hinkle

603-634-2228

william.hinkle@eversource.com

Kyle Costa

781-441-8728

kyle.costa@eversource.com

Source: Eversource

FAQ

What is Eversource's Electric Sector Modernization Plan (ESMP) for Massachusetts?

Eversource's ESMP is a comprehensive roadmap approved by the Massachusetts DPU to enhance grid resiliency and reliability, foster community engagement, and achieve the state's clean energy goals. It includes plans to increase electrification hosting capacity and enhance grid resiliency in environmental justice communities.

How will Eversource's ESMP impact electric vehicle adoption in Massachusetts?

Eversource's ESMP aims to significantly increase electrification hosting capacity to accommodate 2.5 million electric vehicles, supporting Massachusetts' clean energy transition and decarbonization goals.

What measures is Eversource (ES) taking to ensure community participation in clean energy projects?

Eversource is establishing a Community Engagement Stakeholder Advisory Group (CESAG) to create a statewide stakeholder engagement framework. This will ensure meaningful opportunities for all customers to participate in the development of clean energy projects and share in their benefits.

How does Eversource's ESMP address environmental justice concerns?

Eversource's ESMP focuses on enhancing grid resiliency in environmental justice communities by prioritizing these areas for proactive grid upgrades to mitigate potential future climate impacts.

Eversource Energy

NYSE:ES

ES Rankings

ES Latest News

ES Stock Data

22.48B
365.38M
0.27%
84.25%
1.12%
Utilities - Regulated Electric
Electric Services
Link
United States of America
SPRINGFIELD