Federal Agency Orders $1 Billion in Energy Savings for New England Consumers

Federal Agency orders $1 Billion in Energy Savings for New England Consumers

BOSTON – The federal agency that regulates organizations operating wholesale energy markets has ordered ratepayers in New England to receive around $900 million in refunds and over $100 million in annual savings in the future. The Federal Energy Regulatory Commission (FERC) ordered ISO New England (ISO-NE), a non-profit organization responsible for operating the high-voltage power grid and wholesale electricity markets across all six New England…

New England Ratepayers to Receive Nearly $1 Billion Energy Refund, Future Savings of $100 Million Annually

The New England energy market

According to a 2024 ISO New England study, regional electricity consumption will increase by approximately 17% over the next decade. This is a shift from prior years. The projected increase is being driven by the electrification of buildings and vehicles, the retirement of fossil fuel generation resources, broader economic activity and the ever-expanding needs of data centers. These changes are occurring as the region transitions toward cleaner …