The Midwest Independent Transmission System Operator, a Carmel not-for-profit that monitors the electric grid in Canada and 13 states, unveiled a long-term plan Thursday morning that it says will contribute billions of dollars to the economy and thousands of jobs.
MISO’s plan, developed during the past 18 months, recommends a $6.5 billion investment for 215 new transmission infrastructure projects to improve reliability of its electric grid over the next several years.
Power companies on the grid will realize about $23 in lower energy costs for every $11 invested in the new infrastructure, MISO estimated.
“Once in place, the projects will contribute to the lowering of energy costs for all the consumers in the region, and that’s a big deal,” said Clair Moeller, MISO’s vice president of transmission asset management.
The projects are expected to create 39,800 construction jobs and 74,000 total jobs, in addition to generating up to $49.2 billion in savings.