Entergy, ITC continue transaction approval with Mississippi Public Service Commission
The Mississippi filing continues the multi-state and federal regulatory process seeking approval for the transaction announced last year by Entergy Corp. and ITC
Jackson, Miss. and Novi, Mich., October 5, 2012 — Entergy Mississippi, Inc., in conjunction with ITC Holdings Corp. and ITC Midsouth LLC, filed a request today at the Mississippi Public Service Commission to spin off the Mississippi electric transmission business and merge it into a unit of ITC.
The Mississippi filing continues the multi-state and federal regulatory process seeking approval for the transaction announced last year by Entergy Corp. and ITC.
The transaction is a significant step toward meeting the challenges facing the electric industry in Mississippi and across the country — challenges driven by the need to upgrade infrastructure, modernize equipment and meet growing environmental and compliance requirements.
Entergy is seeking approval to transfer more than 15,800 miles of interconnected transmission lines at voltages of 69kV and above and the associated substations to ITC. ITC will then be one of the largest electric transmission companies in the U.S., with more than 30,000 miles of transmission lines spanning from the Great Lakes to the Gulf Coast.
Meanwhile, Entergy's operating companies will continue to own and operate their respective distribution and generation businesses and will provide customer service, billing, outage reporting and restoration services to homes and businesses in the region.
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.