August 10, 2011 - The initiative will make the bulk distribution of energy in the state smart grid ready, and will enable connectivity to similar networks in New England, the mid-Atlantic, the Midwest and Ontario, Canada

According to the NYISO, the new capacitor banks will save around $9 million per year by reducing the amount of electricity that is lost when carried over long distances on the bulk transmission system. The installation of PMUs and integration of the data provided will improve grid operators’ visualization capabilities and situational awareness.

“Situational awareness plays a crucial role in improving the reliability and resiliency of the grid,” said Patricia Hoffman, assistant secretary for the DOE’s Office of Electricity Delivery and Energy Reliability. “DOE funding of this NYISO project and others is allowing independent system operators, transmission companies and other utilities across the U.S. to install over 800 networked PMUs.

As a result, system operators and utilities are getting more accurate and timely picture of the status of the grid, allowing them to respond more quickly and effectively when disruptions do occur.”

Stephen G. Whitley, the NYISO’s president and CEO said  “The project will help New York state achieve a number of key energy goals, including enabling the increased integration of renewable energy supplies, cultivating innovative energy storage technologies, addressing the growing complexity of modern electric grid operations and effectively implementing the broader regional markets initiative that will provide New York with approximately $190 million in annual savings,” said.