National Grid 2014 Annual Report Download - page 18
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ELECTRICITY
What we do
Electricity
The electricity industry connects generation
sources to homes and businesses through
transmission and distribution networks.
Electricity is sold to consumers by companies
thathave bought it from generators and that pay
to use the networks across which it is transmitted.
260 km
Approximate length
of BritNed interconnector
Transmission grids are often
interconnected so that energy can
flow from one country or region to
another. This helps provide a safe,
secure, reliable and affordable
energy supply for citizens and
society across the region.
Interconnectors also allow power
suppliers to sell their energy to
customers in other countries.
Great Britain is linked via
interconnectors with France,
Ireland,Northern Ireland and the
Netherlands. National Grid owns
part of the interconnectors with
France and the Netherlands.
We are working to develop
additional interconnector projects,
which we believe will deliver
significant benefits to consumers.
These include the development of
an electrical interconnector between
the British and Belgian transmission
systems; as well as a proposal to
construct an interconnector
between the UK and Norway.
We also jointly own and operate a
224 kilometre interconnector
between New England in the US
and Canada.
We sell capacity on our UK
interconnectors through auctions
and on our US interconnectors
through wholesale markets and
bilateral contracts.
3.8 GW
Generation produced in the US
Generation is the production of
electricity from fossil fuel and
nuclear power stations, as well as
renewable sources such as wind
and solar. In the US, we own and
operate 50 fossil fuel-powered
stations on Long Island and 4.6 MW
of solar generation in Massachusetts.
We do not own or operate any
electricity generation in the UK.
We sell the electricity generated by
our plants on Long Island to LIPA
under a long-term power supply
agreement. The contract allows us
to recover our efficient operating
costs and provides a return on
equity on our investment in the
generation assets.
For solar generation, we recover our
costs and a reasonable return from
customers in Massachusetts
through a solar cost adjustment
factor. This is added to the electricity
rate, net of revenues earned from
the solar assets.
Generation Interconnectors
16 National Grid Annual Report and Accounts 2013/14