It’s no secret – New York’s power grid is old. Over 80% of New York’s high-voltage transmission lines went into service before 1980. As outlined in our 2018 Advocacy Agenda, the Buffalo Niagara Partnership supports upgrading New York’s aging power grid and investing in energy infrastructure to help meet our economic goals. As the economic landscape of the Buffalo Niagara region continues to evolve, the importance of affordable, reliable energy remains a constant necessity – which depends, in large part, on the state of our energy grid.
The safe and efficient movement of goods, services and people is at the core of our economy. Government at all levels must be willing to prioritize critical long-term investments, as well as support private projects producing real economic benefit. Included in this is upgrading New York’s aging power grid and developing the state’s natural gas transmission system. Both priorities are a part of the Buffalo Niagara Partnership’s 2018 Advocacy Agenda.
As expected, 2015 has already provided some unexpected twists and turns within the energy markets that are sure to continue throughout the year.
However, before we explore forward market conditions, it helps to take a look back and benchmark some of the significant market events that still influence today’s prices.