|
|
|
Newsroom
6/5/2007 | FOR IMMEDIATE RELEASE
ITC Great Plains Receives Approval to Operate as Utility in Kansas
Company seeks to invest in transmission upgrades to relieve existing system constraints, improve
reliability and facilitate renewable resource-based energy into the market
NOVI, Mich., June 5, 2007 /PRNewswire-FirstCall via COMTEX News Network/ - ITC Great Plains, an ITC Holdings Corp.
(NYSE: ITC) subsidiary, announced today the Kansas Corporation Commission (KCC) has approved its Application for
Certificate of Convenience and Authority. The limited certificate gives ITC Great Plains the authority to operate as a utility in the
state of Kansas and move forward in its effort to construct, own, operate and maintain bulk electric transmission functions.
"We appreciate the KCC's hard work in evaluating and approving our application to become a transmission-only utility in the
state of Kansas," said Carl A. Huslig, president of ITC Great Plains. "There is a recognized need for transmission investment in
Kansas to alleviate existing transmission constraints, facilitate energy markets and help further the entrance of wind energy
and other renewable resources into the market. We would like to recognize the KCC for being an innovator in authorizing a
transmission-only utility for the state of Kansas."
ITC, through its subsidiaries, has invested over $580 million since 2003 toward maintenance and capital system improvements
in its existing service territories in Michigan's Lower Peninsula in its mission to improve electric reliability. As an ITC subsidiary,
ITC Great Plains can leverage ITC's skills, partnerships and expertise to build the necessary transmission infrastructure in the
Great Plains region.
"ITC Great Plains is ready, willing and able to invest in the Kansas electric transmission system. We are committed to Kansas
and support Governor Kathleen Sebelius's call for 10 percent of the state's electricity to come from renewable resources by
2010 and 20 percent by 2020, and we believe that transmission infrastructure is an important component to the equation," said
Huslig. "The construction of new transmission lines is critical to address existing electric bottlenecks and ensure that Kansas
can capitalize on its wind resource capability to make wind energy a reality by allowing it to reach the end-use consumers
reliably and efficiently."
The filing made by ITC Great Plains was assigned KCC Docket No. 07-ITCE- 380-COC and can be accessed at KCC's website
at http://www.kcc.state.ks.us and at ITC Great Plains' website at http://www.itcgreatplains.com.
About ITC Great Plains
ITC Great Plains, LLC, was established in July 2006 as a subsidiary to ITC Grid Development, LLC, a subsidiary of ITC
Holdings Corp. (NYSE: ITC), to address a recognized need for investment in the transmission infrastructure in Kansas and the
Great Plains region. ITC Great Plains is fully committed to bringing the necessary resources to Kansas and the surrounding
Great Plains region to build the necessary improvements to support Kansas now and in the future. For more information on ITC
Holdings Corp., please visit http://www.itc-holdings.com.. For more information on ITC Great Plains, please visit
http://www.itcgreatplains.com.(itc-ITC)
Safe Harbor Statement
This press release contains certain statements that describe our management's beliefs concerning future business conditions
and prospects, growth opportunities and the outlook for our business and the electricity transmission industry based upon
information currently available. Such statements are "forward-looking" statements within the meaning of the Private Securities
Litigation Reform Act of 1995. Wherever possible, we have identified these forward-looking statements by words such as
"anticipates", "believes", "intends", "estimates", "expects", "projects" and similar phrases. These forward-looking statements are
based upon assumptions our management believes are reasonable. Such forward looking statements are subject to risks and
uncertainties which could cause our actual results, performance and achievements to differ materially from those expressed in,
or implied by, these statements, including, among other things the risks and uncertainties disclosed in our annual report on
Form 10-K and our quarterly reports on Form 10-Q filed with the Securities and Exchange Commission from time to time.
Because our forward-looking statements are based on estimates and assumptions that are subject to significant business,
economic and competitive uncertainties, many of which are beyond our control or are subject to change, actual results could
be materially different and any or all of our forward- looking statements may turn out to be wrong. They speak only as of the
date made and can be affected by assumptions we might make or by known or unknown risks and uncertainties. Many factors
mentioned in our discussion in this release and in our annual and quarterly reports will be important in determining future
results. Consequently, we cannot assure you that our expectations or forecasts expressed in such forward-looking statements
will be achieved. Actual future results may vary materially. Except as required by law, we undertake no obligation to publicly
update any of our forward-looking or other statements, whether as a result of new information, future events, or otherwise,
unless required by law.
SOURCE ITC Holdings Corp.
Investors, Analysts, Pat Wenzel, +1-248-374-7200,
pwenzel@itc-holdings.com,
Media,
Lisa
Aragon, +1-248-835-9300, laragon@itc-holdings.com
http://www.itc-holdings.com
Copyright (C) 2007 PR Newswire. All rights reserved
News Provided by COMTEX
|
|
Critical Transmission Grid Expansion Plans Advance
ITC Great Plains Expansion in Kansas Approved
ITC Great Plains to Build the North Half of X Plan Transmission Grid in Kansas
ITC Great Plains Receives Approval to Operate as Utility in Kansas
ITC Holdings Corp. Named as Finalist in 2007 American Business Awards
ITC Holdings Corp. Named Finalist for Edison Award
ITC Holdings Corp. Announces New Subsidiaries ITC Grid Development, ITC Great Plains
|
|
