ISO New England selects Eversource’s joint transmission project as preferred long-term solution to enhance reliability and affordability

MANCHESTER, N.H., Sept. 16, 2026 (GLOBE NEWSWIRE) -- Eversource today announced ISO New England’s (ISO-NE) selection of the company’s joint Transmission Initiative Down East (TIDE) project as the preferred longer-term transmission solution to meet regional needs outlined by ISO-NE in its competitive transmission solicitation process. The proposed TIDE project will enhance reliability for customers and enable new energy supply sources in northern New England – easing congestion on the regional transmission system and helping to address affordability.

Through ISO-NE’s competitive bid process, TIDE emerged as the strongest overall and most cost-effective solution to meet the region’s energy needs with significant customer benefits – including expanded system capacity, reduced congestion costs, enhanced reliability and the ability to integrate to the regional grid up to 1,200 megawatts of future onshore wind generation in northern New England. The proposed project still requires extensive engineering, environmental, permitting and regulatory reviews, with construction anticipated to begin in 2029 pending all state and regulatory approvals.

“This selection is an important step toward delivering the modern, reliable transmission infrastructure New England needs while enabling new supply resources that are so critical to addressing our region’s longstanding energy affordability challenges,” said Bill Quinlan, President of Transmission at Eversource. “Transmission solutions like this project can help improve affordability for customers across New Hampshire and all of New England by enabling greater supply capacity and easing congestion costs while also ensuring customers have the highly reliable service they demand. We look forward to further engagement with our communities, ISO New England and other stakeholders to bring these benefits to the region.”

According to ISO New England’s analysis, TIDE is projected to provide substantial regional benefits at a more than 2-to-1 cost-benefit ratio, including:

• $1.42 billion in production cost and congestion savings
• $1.30 billion in avoided capital investment
• $694 million in avoided transmission investment, which ultimately equates to significant savings for customers
  

Eversource’s portion of the TIDE project will primarily involve upgrades and replacement of infrastructure entirely within existing rights-of-way in New Hampshire, with additional work in Maine and Massachusetts. In New Hampshire, the project includes a new 18-mile, 345 kilovolt (kV) line, a rebuild of one of the existing 345 kV lines from a two-pole, H-frame design to a single-pole, reconductoring one of the existing 345 kV lines and installation of equipment to help regulate voltage and power quality. The project is designed to maximize the use of established transmission rights-of-way and existing infrastructure, which minimizes environmental and community impacts while efficiently delivering capacity, strengthening the grid, and relieving energy bottlenecks for the entire region.

To learn more about the Transmission Initiative Down East (TIDE) project, visit Eversource’s website.

Eversource (NYSE: ES), celebrated as a national leader for its commitment to sustainability and corporate citizenship, is named among America’s Most Responsible Companies by Newsweek for 2026 and recognized as the #1 utility on USA Today’s list of America’s Climate Leaders for 2025. Eversource is New Hampshire’s largest electric utility, serving nearly 549,000 homes and businesses in 206 cities and towns. Eversource is proud to be recognized as the #1 contributor to United Way in New Hampshire. Eversource harnesses the commitment of more than 10,300 employees across three states to build a single, united company around the mission of safely delivering reliable energy 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.

CONTACT:

Media Contact:
William Hinkle
603-634-2228
william.hinkle@eversource.com

Investor Relations Contact:
Rima Hyder
781-441-8882
rima.hyder@eversource.com