New England Power Generators Association Supports Energy Settlement

 

Agreement Will Provide Certainty and Reliability for Businesses and Consumers throughout the Region

 

 

For Immediate Release       January 31, 2006                                                                                   

Contact: Angela O'Connor        617.835.3150

 

Boston - An agreement was reached today that provides for the development of a market-based mechanism to ensure the reliability of the New England electricity market. The agreement is subject to approval by the Federal Energy Regulatory Commission.

 

Specifically, the agreement addresses the short-term and long-term energy needs in the region.  The agreement provides substantial savings for consumers in comparison to previously considered proposals.  In addition, it provides the framework needed to make energy investments in the region as well as insure that generators are available when needed the most.  Reliable supplies of electricity are a vital component in furthering the job growth and economic development necessary for a healthy New England economy.

 

"This agreement is good news for New England, good news for consumers and good news for business.  Our goal was to develop a market based mechanism to insure reliable electricity now and in the future. This agreement does just that" said Angela O'Connor, President of the New England Power Generators Association, the largest trade organization representing competitive electric generating companies in the region.

 

The agreement was reached by a spectrum of public and private entities representing energy and consumer interests. 

 

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New England Power Generators Association

 

NEPGA is the largest trade association representing competitive electric generating companies in New England and is composed of the following member companies: American National Power, Boston Generating, Calpine Corporation, Exelon, FPL Energy, Lake Road Generating, Mirant Corporation, NRG Energy, ConEd Energy, Competitive Power Ventures, Dominion and PSEG. The member companies operate a diverse portfolio of electric generating resources located throughout New England.