This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Entergy And ITC Initiate Transaction Approval Process With Louisiana Public Service Commission Filing

Moreover, this transaction places transmission in the hands of a singularly focused, independent company with industry-leading performance in the areas of operations and maintenance of transmission assets, as well as application of broad regional planning for transmission investment designed to facilitate the delivery of low cost energy.

"We had planned to make our first filing in Louisiana last week; however, it was delayed so that we and the commission could dedicate resources to restoration following Hurricane Isaac," Mohl said. "Now that the completion of the restoration work is in sight, we are filing this application. Given the deadlines included in this transaction, it is important to stay on course with our filings in order to deliver the benefits to customers. Initiating the filing process now will allow our regulators sufficient time for their reviews."   

Additional Transaction Facts and Next Steps

In addition to the miles of transmission lines and acres of substations involved in the transaction, approximately 750 Entergy employees, including key leadership personnel from Entergy's transmission business, will become employees of ITC. ITC will establish and maintain a regional headquarters in Jackson, Miss., where the headquarters of Entergy's transmission business is currently located. ITC will also have offices and warehouses throughout the service territory to ensure a local presence and timely response to stakeholder and system needs. Details regarding the transaction are provided in the Louisiana Public Service Commission filing.

ITC personnel were onsite at Entergy's system command center in Jackson last week to observe storm response operations related to Hurricane Isaac. Integration efforts to ensure storm readiness and response are among the key operational matters being addressed by the two companies.

The remaining regulatory filings for the transaction will be completed later this summer and into the fall.  Subsequent filings are planned for Arkansas, Mississippi, Missouri, New Orleans and Texas as well as with the Federal Energy Regulatory Commission. The companies target a transaction close in 2013 pending receipt of all required regulatory approvals and satisfaction of other closing conditions.

The Louisiana filing will be posted to the Louisiana Public Service Commission website by the close of business on Thursday, Sept. 6.  More information about the transaction can be viewed here on ITC's website, or here on Entergy's website.

About ITC Holdings Corp.

ITC Holdings Corp. (NYSE: ITC) is the nation's largest independent electric transmission company. Based in Novi, Michigan, ITC invests in the electric transmission grid to improve reliability, expand access to markets, lower the overall cost of delivered energy and allow new generating resources to interconnect to its transmission systems. ITC's regulated operating subsidiaries include ITC Transmission, Michigan Electric Transmission Company, ITC Midwest and ITC Great Plains. Through these subsidiaries, ITC owns and operates high-voltage transmission facilities in Michigan, Iowa, Minnesota, Illinois, Missouri, Kansas and Oklahoma, serving a combined peak load exceeding 26,000 megawatts along 15,000 circuit miles of transmission line. Through ITC Grid Development and its subsidiaries, the company also focuses on expansion in areas where significant transmission system improvements are needed. For more information, please visit ITC's website at . (itc-ITC)

About Entergy Louisiana, LLC and Entergy Gulf States Louisiana, L.L.C

Entergy Louisiana, LLC and Entergy Gulf States Louisiana, L.L.C. serve more than one million customers. With operations in southern, central and northeastern Louisiana, the companies are part of the Entergy electric system serving 2.8 million customers in Louisiana, Arkansas, Mississippi and Texas. Find the companies online at (Web) (Twitter) @EntergyLA.

2 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.08 -1.20%
FB $117.56 -0.42%
GOOG $702.43 0.97%
TSLA $209.45 -5.90%
YHOO $36.82 2.30%


Chart of I:DJI
DOW 17,588.87 -71.84 -0.41%
S&P 500 2,050.63 -0.49 -0.02%
NASDAQ 4,717.0940 -8.5450 -0.18%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs