The six New England Governors released a six-state action plan to address the region's energy future, particularly in light of volatile wholesale prices.

Of most note, three of the New England states -- Connecticut, Massachusetts, and Rhode Island -- have jointly supported the issuance of a draft Request for Proposals (RFP) from private developers of clean energy and transmission. The three states are leveraging their collective authority in a joint procurement to open the possibility of procuring large-scale projects that no one state could procure alone. Through this RFP, Connecticut and Massachusetts are seeking power purchase agreements for more than 1,375 GWh/year of large-scale hydropower or Class I renewables (Connecticut); and up to 817 GWh/year of Class I renewables (Massachusetts).

Maine said that, "Maine is open to additional infrastructure in our state to advance these objectives and is willing to participate in a load share cost recovery for a project in Maine that advances significant cost-effectiveness for ratepayers."

The plan noted that the New Hampshire Public Utilities Commission has opened IR 14-338, a Review of Default Service Procurement Processes for Electric Distribution Utilities, to consider ways for state-regulated utilities to respond to the wholesale markets with more flexibility to reduce price volatility.

The plan further notes that, "Recognizing that our region’s average retail price of electricity harms our economic competitiveness, the New Hampshire Public Utilities Commission opened IR 15-124, an investigation into potential approaches to Ameliorate Adverse Wholesale Electricity Market Conditions in New Hampshire."

How all these interventions, meant to address clear failures of the FERC-designed wholesale market, will impact the retail market and headroom remain to be seen

Link to States' Plan