ADVFN - Advanced Financial Network.
HOME» NYSE » I » ITC Stock Price » ITC Stock News

Itc Share News

 Itc Holdings Corp Stock Price
ITC Stock Price
 Itc Holdings Corp Stock Chart
ITC Stock Chart
 Itc Holdings Corp Stock News
ITC Stock News
 Itc Holdings Corp Company Information
ITC Company Information
 Itc Holdings Corp Stock Trades
ITC Stock Trades

US Power Grid Connection Wins First Approval; Texas Unresolved

NEW YORK -(Dow Jones)- A transmission project to link the nation's three major electric grids won an initial approval Thursday from federal regulators, but fell short on its bid to resolve a thorny jurisdiction issue. The so-called Tres Amigas superstation planned for New Mexico would allow power to flow among the eastern, western and Texas electric grids. Linking the regions could give wind and solar generation greater access to customers and back up power, while eliminating often wide disparities in wholesale prices between different areas. "Tres Amigas is a prime example of the creativity and pioneering thinking that our country needs to expand the ability of the transmission grid," said FERC Chairman Jon Wellinghoff before the votes. The commission gave the project the authority to sell transmission access at negotiated rates to generators and other firms that would move power through the proposed facility, while including provisions to protect consumers. At the same time, FERC declined to wave its authority over transmission connections the facility would have with the Electric Reliability Council of Texas, or Ercot. The jurisdictional issue is critical to Ercot's involvement because the commission doesn't have jurisdiction over the Texas grid. The commission said it didn't have enough information to make a decision, but recommended a future filing by the project to resolve the jurisdictional issue. Winning FERC approvals are important to move the project forward as Tres Amigas looks to raise additional funding and reach agreement with transmission companies that would connect into the facility. The project's developers are talking with a range of high-voltage line builders including American Electric Power Co. (AEP), ITC Holdings Corp. (ITC) and Xcel Energy Inc. (XEL), said David Raskin, a partner at the law firm Steptoe & Johnson LLP who represents Tres Amigas in an interview Wednesday. He said the project could be operational as early as 2013, but the timeline largely depends on the transmission companies connecting to the facility. The project would use super-conductor technology to synchronize power among the three major interconnections. A mismatch exists among the grids preventing power from flowing among states such as Texas and Arizona. -By Mark Peters, Dow Jones Newswires; 212-416-2457; mark.peters@dowjones.com

Stock News for Itc (ITC)
DateTimeHeadline
10/29/201307:55:45Entergy 3rd-Quarter Profit Falls 29% as Expenses Rise
07/30/201308:09:11Entergy 2nd-Quarter Profit Down 55%; Reorganization Planned
11/05/201208:38:23Entergy 3rd-Quarter Profit Off 46% on Weaker Demand, Year-Earlier...
04/26/201207:58:37Entergy Swings To 1Q Loss On Charges, Lower Revenue
04/19/201208:51:52Entergy Sees Weak 1Q EPS, Lowers Year View On Unfavorable Weather
01/23/201209:16:39US STOCK FUTURES: HOT STOCKS TO WATCH
01/23/201208:03:52Entergy Sees 4Q EPS Above Street, Below Year Earlier On Higher...
11/15/201120:23:49Samsung Electronics Acquires U.S. Healthcare Equipment Maker...
03/18/201012:04:03US Power Grid Connection Wins First Approval; Texas Unresolved
01/19/201010:43:06US Supreme Court Won't Consider Power Line Case

Itc and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad