THE CLEAN ENERGY

CORRIDOR’S NEW EXPANDED BENEFITS

POWER AT A DISCOUNTED PRICE FOR MAINE

Through a long-term binding commitment, Hydro-Québec will provide renewable energy for Maine residents
and businesses at a discounted price.
 500,000 megawatt hours of renewable hydropower to Maine.  Reduced price for Mainers: The wholesale price to Maine will
This volume of energy is enough to power: be cut by $4/megawatt hour – over the 20 years of the contract.
Based on the forecasted price environment in Maine for 2023,
70,000 homes this represents a 12% saving.

 Carbon reductions: These deliveries, alone, will displace
or 10,000 businesses approximately 200,000 tons of carbon emissions in the region;

equivalent to removing 50,000 cars from the road every year. This is
These energy deliveries will be made annually for 20 years over
in addition to the equivalent annual emissions of 700 000 cars that
the New England Clean Energy Connect (NECEC) line to Lewiston
will be avoided because of the project.
Maine when the powerline is commissioned.

ACCELERATED FINANCIAL CONTRIBUTIONS

Hydro-Québec will accelerate payments within the approved $258 million1 NECEC financial benefits package to the state.
 Start date: This fall. Mainers will receive funds from the development of the NECEC over two years ahead of schedule.

Breaking it down
Annual payments beginning in 2020 and paid each year through 2024

– $3.5 million for rate relief for Mainers

Approximately
– $2 million investment in heat pumps
– $2 million investment in electric vehicle infrastructure $10M $50M
every year over 5 years
– $2 million investment for broadband, including a feasibility study
for connecting Maine and Québec networks
starting this fall

Annual payments continue in 2025 and are paid each year through 2060
– $3.5 million for rate relief for Mainers

THE BIG PICTURE

 Mainers will receive Québec renewable hydropower
from the NECEC – at a reduced price. Once the powerline is
commissioned, this commitment guarantees deliveries of clean
energy for Maine, at a discounted price, enough to power
70,000 homes.
 Maine gets millions from HQ – sooner. Payments within
the benefits backage will begin more than two years ahead
of schedule.
T
 hese benefits are in addition to the significant economic
benefits associated with the construction and operation
of the NECEC line including:
– $18 million each year in host community tax revenues
– 1600 new jobs during construction of the line

1 Hydro-Québec has committed $170M to the $258M benefits package. Central Maine Power’s contribution is $88M.