ISO-NE projects slow growth in electricity demand
New England’s electric grid operator predicts slow growth in annual energy usage in the region over the next decade, with slightly quicker growth in peak demand.
ISO New England, Inc. develops an annual long-term load forecast using factors including state and regional economic forecasts and 40 years of weather history. Its most recent baseline forecast projects a compound annual growth rate of 1.0% in total energy usage in New England from 2015 to 2024. For 2015, ISO-NE projects 138,745 gigawatt-hours (GWh) of load, growing to 152,280 GWh in 2024.
ISO-NE’s forecast also projects future peak demand, a measure of the highest amount of electricity used in a single hour in New England. Often, peak demand drives the need for constructing and maintaining power plants and transmission lines (and energy efficiency investments). According to the latest ISO-NE forecast, New England’s peak electricity demand is projected to rise by a compound annual growth rate of 1.3%, from 28,395 MW this year to 31,905 MW in 2024.