ITC Great Plains Positioned to Move Forward With V-Plan Project
July 27 2009 - 7:30AM
PR Newswire (US)
Kansas line is a critical link in addressing state's energy
challenges TOPEKA, Kan., July 27 /PRNewswire-FirstCall/ --
Reliable, renewable electricity in Kansas is now a step closer to
reality thanks to a recent state decision that clears the way for
ITC Great Plains, LLC to continue pursuing construction, ownership
and operation of the extra-high voltage V-Plan transmission
project. The Kansas Corporation Commission (KCC) ruled July 24 that
ITC Great Plains can construct and own two sections of this
important 765 kilovolt (kV) project. The KCC ruling also gave
approval to Prairie Wind Transmission, LLC, to construct and own a
third section of this 180-mile-long line. ITC Great Plains, in
collaboration with Sunflower Electric Power Corporation and
Mid-Kansas Electric Company, will now seek other regulatory
approvals required to move the project forward, including project
evaluation and cost allocation resolution by the Southwest Power
Pool, Inc. (SPP) regional planning authority and siting permission
from the KCC. The V-Plan is the largest electric infrastructure
investment proposed in Kansas in nearly 25 years. It will run from
Spearville to a termination point outside of Wichita, Kan., and
connect with another line running into Oklahoma. In addition to
improving electric reliability and facilitating wind energy in
Kansas, the V-Plan will establish a critical east-west transmission
corridor across the state. ITC Great Plains estimates it will
invest approximately $400 million to construct its portions of the
project at 765 kV. "ITC is pleased by the KCC's decision and the
obvious importance the Commission and Commission staff have placed
on this project," said Carl Huslig, president, ITC Great Plains.
"We believe a collaborative approach to the development and
construction of the Kansas V-Plan is the best way to expeditiously
further the state's energy and infrastructure objectives." The
KCC's July 24 decision accepted a Stipulation and Agreement
(S&A) reached between ITC Great Plains and Prairie Wind that
set forth which sections of the line each company would construct
and own. Under the terms of the S&A, ITC Great Plains will
construct and own segments of the line running from Spearville to
Comanche County, Kan., and from Comanche County to Medicine Lodge,
Kan. ITC Great Plains will also construct and own new substations
in Comanche County, Spearville and Medicine Lodge, Kan. 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 Kansas V-Plan to the Oklahoma border. The settlement
agreement addresses only facilities proposed to be constructed in
Kansas. "The V-Plan is a critical project in Kansas and we are
pleased to be cleared to begin the next steps in the process of
getting this line constructed," said Huslig. "The entire country is
grappling with how to address pressing energy challenges and,
thanks to the leadership of the KCC, Kansas is now uniquely
positioned to move forward in addressing its own." 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/. (itc-ITC) 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. DATASOURCE: ITC Holdings Corp.
CONTACT: Investor/Analyst contact: Pat Wenzel, +1-248-946-3570, ,
Media contact: Cheryl Eberwein, +1-248-767-1068, , or Kimberly
Svaty, +1-913-486-4446, Web Site: http://www.itc-holdings.com/
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