The Brattle Group will manage an open solicitation process for General Electric (GE) to sell transmission rights across GE’s Linden Variable Frequency Transformer (VFT). The Linden smart grid project, located at the intersection of the New York City (NYISO Zone J) and PJM power grids, is capable of transferring 315 megawatts of capacity―enough for up to 315,000 homes―between PJM and NYISO.
The open solicitation to sell 315 MWs of bi-directional transmission scheduling rights (TSRs) will be conducted in April and May 2018, with bid forms due by May 15. The TSRs will become available on June 1, 2019, and the term length of the TSR purchase agreements can be designated by the bidder. The TSRs provide their holders a unique opportunity to arbitrage between the capacity and energy markets in PJM and NYISO-Zone J.
Linden VFT commenced commercial operation in late 2009 and has successfully demonstrated the flexibility to flow power in both directions between the NYISO and PJM power grids. The variable frequency transformers provide a precise control path between electrical grids, permitting power exchanges that were previously impossible because of technical constraints.
By visiting www.lindenvftauction.com, interested parties can find an Information Memorandum that describes the open solicitation process for selling the TSRs, the features of Linden VFT, and the TSRs and their benefits, as well as a calendar for the open solicitation and important announcements. Any questions can be directed to The Brattle Group, the Independent Solicitation Manager, at email@example.com.