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NRG Canal 3 Project Clears ISO-NE Capacity Auction
333 MW Peaker will provide flexible, fast-start capacity
For the new Canal unit, NRG elected to receive the auction clearing price for seven capacity commitment periods, which means that the new unit will receive the FCA10 clearing price for seven years, with years 2-7 adjusted for inflation. This is an important capacity market feature that is helping to bring new generation resources online.
According to NRG EVP, Development John Chillemi, “We’re especially pleased that our new Canal 3 project cleared the auction, allowing us to provide valuable generation to the region and continue our robust fleet modernization program.”
Canal 3 will primarily use natural gas to provide enough generation to power 264,000 average-sized homes. As a “peaking plant,” Canal 3 will operate mainly during peak demand periods or in the event of unexpected outages. Additionally, Canal 3’s high-efficiency gas turbine will be capable of starting and reaching full capacity in 10 minutes.
In addition to the Canal 3 project, NRG is permitting and building a 1.5
MW community solar project, also on the existing footprint of the
NRG is leading a customer-driven change in the U.S. energy industry by
delivering cleaner and smarter energy choices, while building on the
strength of the nation’s largest and most diverse competitive power
portfolio. A Fortune 200 company, we create value through reliable and
efficient conventional generation while driving innovation in solar and
renewable power, electric vehicle ecosystems, carbon capture technology
and customer-centric energy solutions. Our retail electricity providers
serve almost 3 million residential and commercial customers throughout
the country. More information is available at www.nrg.com.
David Gaier, 609-524-4529
Kevin Cole, 609-524-4526
Lindsey Puchyr, 609-524-4527