The Federal Energy Regulatory Commission (FERC) approved an unspecified funding arrangement for a major transmission project to link Hydro-Quebec with ISO New England that would deliver low-cost hydropower to consumers in the New England region. The project is expected to reduce greenhouse gas emissions by four to six million tons of CO2 per year by displacing gas-fired generation in New England. According to FERC, "Northeast Utilities Service Company, NSTAR Electric Company and Hydro-Quebec TransEnergie are currently negotiating a joint development agreement for the design, planning and construction of a 1,200 megawatt high voltage transmission line that will cross over the U.S.-Canadian border and connect to ISO-New England’s backbone 345 kV transmission system. This expansion will make significant amounts of surplus hydropower available for export to the United States." Says FERC Chairman Jon Wellinghoff, “This project provides the opportunity for consumers in a region of the country that has tight constraints on electricity supplies to get access to clean, low-cost energy.” Under a participant funding plan, the project costs will not be included in the rates for transmission service under ISO New England’s Open Access Transmission Tariff.