Wednesday, July 7, 2010

Transmission: ITC Holdings, partners Recieve Go-ahead for $92 Million Line (ITC)

I hadn't posted on ITC in a couple months and was surprised by the chart. First off, I have no clue that ITC was one of the flash crash contributors. Secondly, the stock seems to be levitating on very small volume, any decent news could cause a pop. The stock is trading at $53 even, down a penny (lower than the day JP Morgan reiterated their 'Overweight') From BigCharts:
Via the Climate+Energy Project blog:
From the Hays Daily News, by Mike Corn:
TOPEKA — With few changes, the Kansas Corporation Commission has approved the second phase of a massive electric transmission line that will run from Hays to the Nebraska border.
The approval came Wednesday, on the last day the KCC could deal with the issue.
The 345,000-volt line ultimately will run from Spearville to Hays and then north to the Nebraska border, eventually ending in Axtell, Neb.

ITC Great Plains will build the Kansas stretch of the line, with Sunflower Electric and Midwest Energy handling maintenance in their respective trade areas.
The second phase of the line, as approved by the KCC, will be built using single steel poles, ranging in height from 100 to 150 feet tall. On average, they will be placed about 900 feet apart.

The second phase of the line will be about 85 miles long, costing nearly $92 million to build. It generally will run northeast out of Hays, passing several miles east of Plainville and Stockton. It will go through Smith County about 3.5 miles east of Kensington....MORE