New England’s energy prices are already sky-high. Households in our region pay on average $400 more annually for heating and electricity compared to the rest of the nation.
All told, our region paid an extra $7.5 billion over the last three winters because of higher energy costs caused in part by inadequate energy infrastructure. This is money taken away from our communities, small businesses, and family budgets.
Energy could become even more expensive, hurting households and our regional economy—unless we start expanding our energy infrastructure now.
Failing to expand the region’s energy infrastructure will cost New England households and businesses $5.4 billion in higher energy costs (in 2014 dollars) between 2016 and 2020. The $5.4 billion in added costs will ramp up from 2016 through 2020, increasing the region’s electricity and natural gas costs by 9 percent in 2020 according to forecasted energy demand and costs. Similar or larger impacts can be expected beyond 2020 if infrastructure is not added as demands for natural gas and renewable electricity increase.*
The Solution is Simple
New England must build energy infrastructure. All types of energy infrastructure are important, but natural gas pipelines are essential. Today, 40% of our region’s electricity is generated by natural gas, and our pipeline infrastructure cannot meet our needs.