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ITC Holdings Corp.
Senate Transmission Bill Will Help Modernize Grid
May 31st, 2009
ITC Holdings Corp. (NYSE: ITC) praises U.S. Senate Committee on Energy and Natural Resources Chairman Jeff Bingaman (D-NM) today for completing action on legislation that would take needed steps to modernize America's aging energy infrastructure. The proposal calls for reforms to the primary roadblocks the nation faces in developing a truly modern energy grid including how it plans, pays for and sites needed transmission projects. Specifically, the bill enables the development of an interconnection-wide transmission plan, calls for federal backstop to existing state siting authority and delegates cost-allocation authority to FERC through a rulemaking process. "This is...
Source: Pharma Investments, Ventures & Law Weekly (2009-05-31)
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