Tuesday, April 14, 2009

Transmission: 'Green Power Express' gains federal rate incentives (ITC)

This is a big ($12 Billion) deal.
From Greenwire via the New York Times:
A 3,000-mile transmission project that would bring wind-powered electricity from North Dakota to Chicago, Minneapolis and other cities can proceed after getting federal approval today of rate incentives for the seven-state project.

ITC Holdings Corp.'s "Green Power Express" would cost $10 billion to $12 billion and carry 12,000 megawatts aimed at reducing congestion, improving transmission reliability and strengthening aging electricity infrastructure. But the project has faced regulatory snags (ClimateWire, Feb. 12).

The Federal Energy Regulatory Commission approved the transmission-investment incentives for the project, saying it would provide benefits such as improved transfer capability and access to wind power generation.

The commission approved the company's request for an incentive return on common equity of 12.38 percent....MORE
Here's ITC's homepage, the stock is down a buck at $41.00.