| GE unit to auction electric transmission capacity NEW YORK - GE Energy Financial Services, a unit of General Electric Co, on Monday announced it will auction electricity capacity from its Linden smart grid project at the intersection of the New York City and PJM power grids. It added that Linden variable frequency transformer (VFT) customers can also route energy from NYISO to the PJM Interconnection. The statement said the project is capable of transferring 315 MW of capacity between PJM and NYISO by connection to a cable originating at GE's 900-megawatt Linden cogeneration power plant and connecting to Consolidated Edison's Goethals substation in New York. They enable transmission system operators at PJM and NYISO to control power flows with high reliability, speed and efficiency, while offering flexibility in how utilities meet growing energy demand. 'These blocks can be used by the project's customers to sell power capacity and energy sourced in the PJM Interconnection into the New York Independent System Operator (NYISO) and its zone serving the New York metropolitan area,' a firm statement said. The VFTs provide precise control between electrical grids, allowing power exchanges previously impossible due to technical constraints, the firm said. Bidders can buy up to nine available blocks for terms ranging from a minimum of 1 year, up to 10 years and seven months and are allowed to make multiple offers, each offer corresponding to a different contract duration. |
Wednesday, 11 April 2012
GE unit to auction electric transmission capacity
