TOPEKA, Kan., June 1, 2009 /PRNewswire-FirstCall via COMTEX News Network/ -- In an important project milestone, ITC Great Plains, LLC (ITC Great Plains) today signed an agreement to resolve pending regulatory proceedings about who should be authorized to build the 180-mile long transmission line project known as the Kansas V-Plan. The agreement will now be filed at the Kansas Corporation Commission (KCC).
Under the terms of the proposed settlement agreement, ITC Great Plains and Prairie Wind Transmission, LLC (Prairie Wind), would be authorized by the KCC to build different segments of the V-Plan, which will run between Spearville and Wichita, Kan. The agreement stipulates that ITC will construct and own two segments of the line, including the first section of line running from Spearville to Comanche County, Kan. and the second section from Comanche County to Medicine Lodge, Kan. ITC Great Plains will also construct a new substation in Comanche County.
Prairie Wind will construct a substation at Medicine Lodge and a third section of line from that substation to a termination point outside of Wichita. Prairie Wind also would be certificated to construct a line from the V-Plan to the Oklahoma border. The settlement agreement addresses only facilities proposed to be constructed in Kansas.
ITC Great Plains' participation in the V-Plan project is part of its collaboration with Sunflower Electric Power Corporation (Sunflower) and Mid-Kansas Electric Company (Mid-Kansas).
"This resolution is a major milestone in our efforts to build a 21st century transmission grid in Kansas," said Carl Huslig, ITC Great Plains president. "The parties involved in this proceeding have worked diligently to achieve a solution for building crucial transmission infrastructure.
"Kansans will be the ultimate beneficiaries of a robust transmission grid that will increase reliability, lower costs, provide equal access to energy and further wind energy development. ITC Great Plains and its partners are grateful to the Kansas Electric Transmission Authority (KETA) and the KCC for their ongoing efforts to advance transmission investment and development in the state," Huslig concluded.
The Kansas V-Plan will connect east and west Kansas and will improve electric reliability, enable renewable energy developers to tap into the transmission grid and help further establish a competitive energy market in the state.
If the agreement is approved by the KCC, ITC Great Plains, Sunflower, Mid-Kansas and Prairie Wind will pursue next steps including securing siting approvals, resolution of cost allocation issues and project evaluation by the Southwest Power Pool, Inc. (SPP) regional planning authority.
The V-Plan is anticipated to be constructed at a voltage of 765 kV if deemed appropriate by SPP. ITC estimates it will invest approximately $400 million to construct its portions of the project. This is the largest electric infrastructure investment proposed in Kansas in nearly 25 years.
About ITC Holdings Corp.
ITC Holdings Corp. (NYSE: ITC) invests in the electricity transmission grid to improve electric reliability, improve access to markets, and lower the overall cost of delivered energy. ITC is the largest independent electricity transmission company in the country. Through its subsidiaries, ITCTransmission, Michigan Electric Transmission Company, LLC (METC) and ITC Midwest LLC, ITC operates regulated, high-voltage transmission systems in Michigan's Lower Peninsula and portions of Iowa, Minnesota, Illinois and Missouri serving a combined peak load in excess of 25,000 megawatts. ITC is also focused on new areas where significant transmission system improvements are needed through subsidiaries ITC Grid Development, ITC Great Plains and ITC Panhandle Transmission. For more information, please visit: http://www.itc-holdings.com.
About ITC Great Plains, LLC
ITC Great Plains was formed in July 2006 as a subsidiary of ITC Grid Development, a wholly-owned subsidiary of ITC Holdings Corp. ITC Great Plains is a transmission-only utility which seeks to build a more robust electric transmission system so that every electric customer in SPP will have access to reliable, non-discriminatory, competitive and low-cost energy. ITC Great Plains was granted transmission-only utility status in Kansas and has a utility status application pending in Oklahoma which provides the ability for ITC Great Plains to own and operate a fully-regulated, high-voltage transmission system that transmits electricity to local electricity distribution facilities from generating stations throughout the SPP region. ITC Great Plains is committed to working with all stakeholders to identify and solve transmission issues throughout SPP.
SOURCE ITC Holdings Corp.
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