Neptune Regional Transmission System, LLC (Neptune RTS) developed, permitted, financed, built, and now owns and operates the Neptune Project, a 65 mile undersea and underground high voltage direct current (HVDC) transmission line that extends under water and underground from Sayreville, New Jersey to Nassau County on Long Island. Neptune provides up to 660 MW of power to Long Island electricity consumers – enough for 600,000 homes — and supplies more than 20 percent of Long Island’s typical electricity demand. Neptune began construction in June 2005 and was completed in June 2007, on budget and ahead of schedule.
Neptune operates under a long-term agreement with the Long Island Power Authority (LIPA), which selected Neptune RTS to build and operate the project in a competitive solicitation in 2004. In selecting Neptune, LIPA determined that importing power via the Neptune cable was more economical than building new power plants on Long Island. Neptune provides access to one of the most diverse and competitively-priced power markets in the United States, called PJM, which controls electricity flows in all or parts of 13 states and contains more than 160,000 MW of diversified and relatively low-cost power generation.
Neptune is managed by PowerBridge, LLC of Fairfield, Connecticut, which specializes in the development, financing, construction, operation, and ownership of major energy and infrastructure projects, including Hudson Transmission and Cascade Renewable Transmission.