News
ITC Holdings Corp. Recognized by EPA for SF6 Emission Reductions
ITC Holdings Corp. today announced that it has won the SF6 Team Leadership Award from the U.S. Environmental Protection Agency (EPA) in recognition of its continued commitment to SF6 emission reductions. The EPA presented the award to ITC recently at the 2012 Workshop for SF6 Emission Reduction Strategies in Atlanta.
Since its founding in 2003, ITC's management, monitoring and reduction of SF6 emission has resulted in a significant decrease in SF6 gas emission rates from the company's facilities, including an impressive 52 percent reduction between 2005 and 2006 in the ITCTransmission footprint in Michigan.
SF6 gas is one of the referenced "greenhouse gases" by the Intergovernmental Panel on Climate Change (IPCC). SF6 is used in the electric utility industry for insulation and current interruption in electric transmission and distribution equipment.
In this webcast, we explore key issues that drive transmission development and discuss ITC's role and views on them. We also explain the past, present and future of the power grid and walk through a re-created severe weather event that impacted grid reliability.
ITC to Undertake Portions of MISO-Approved MVP Projects
NOVI, Mich., December 12, 2011 – ITC Holdings Corp. (NYSE: ITC) today announced it has received approval from the Midwest Independent Transmission System Operator, Inc. (MISO) to construct portions of four Multi-Value Projects (MVPs). The aggregate portfolio of MVP projects, approved by MISO on December 8, includes approximately $5.1 billion of investments in new regional transmission infrastructure and is the result of an extensive stakeholder process. These projects are expected to provide broad regional benefits commensurate with costs and also support approved state and federal energy policy mandates in the MISO region. According to MISO, the MVP portfolio will deliver benefits in excess of 1.8 to 3.0 times its costs, which, for the average residential customer, translates to $23 in benefits from lowered delivered energy costs for about $11 a year in investment.
Entergy to Divest and Merge Electric Transmission Business Into ITC, Creating Industry-Leading Electric Transmission Company
Entergy customers and other stakeholders to benefit from fully divested, independent transmission company
ITC to benefit from improved platform to support execution of long-term business plan and growth objectives
Enhanced financial flexibility benefits customers and communities through ongoing investment, better access to capital, and credit quality protection
ITC regional headquarters to be in Jackson, Mississippi
NEW ORLEANS, La. and NOVI, Mi. – Entergy Corporation (NYSE: ETR) and ITC Holdings Corp. (NYSE: ITC) today announced that the Boards of Directors of both companies have approved a definitive agreement under which Entergy will divest and then merge its electric transmission business into ITC.
Entergy's electric transmission business consists of approximately 15,700 miles of interconnected transmission lines at voltages of 69kV and above and associated substations across its utility service territory in the Mid-South. Following the completion of the transaction, ITC will become one of the largest electric transmission companies in the U.S., with over 30,000 miles of transmission lines, spanning from the Great Lakes to the Gulf Coast.
ITC Holdings Reports Increased Third Quarter and Year-to-Date 2011 Results
Highlights
- Net income for the third quarter of
$44.0 million , or$0.85 per diluted common share - Net income for the nine months ended
September 30, 2011 of$129.0 million , or$2.49 per diluted common share - Capital investments of
$420.5 million for the nine months endedSeptember 30, 2011 - Reaffirmed 2011 earnings per share guidance of
$3.25 to $3.35 per share - Reaffirmed total 2011 capital expenditure guidance of
$600 to $645 million
ITC Schedules Third Quarter 2011 Earnings Release and Webcast of Earnings Call
NOVI, Mich., October 13, 2011 – ITC Holdings Corp. (NYSE: ITC) today announced that it will release consolidated financial results for the third quarter ended September 30, 2011, after the market closes on October 26, 2011.
In addition, ITC will conduct a conference call to discuss the third quarter results on Thursday, October 27, 2011 at 11 a.m. Eastern time. Joseph L. Welch, chairman, president and CEO, will provide a business overview, and Cameron M. Bready, executive vice president, treasurer and CFO, will discuss the financial results.
ITC Holdings Corp. Appoints J.C. Watts, Jr., M. Michael Rounds and Christopher H. Franklin to Board of Directors
Appointments Broaden Board's Expertise
NOVI, Mich., Aug. 23, 2011 /PRNewswire/ -- ITC Holdings Corp. (NYSE: ITC) has appointed former U.S. Congressman J.C. Watts, Jr., former South Dakota Governor M. Michael Rounds and public utility executive Christopher H. Franklin to its board of directors as independent board members, effective August 17, 2011. These appointments expand ITC's board of directors from seven to ten members.
ITC Holdings Corp. Increases Quarterly Dividend
NOVI, Mich., Aug. 17, 2011 /PRNewswire/ -- ITC Holdings Corp. (NYSE: ITC) announced today that its board of directors declared a quarterly cash dividend of $0.3525 per share, an increase of 5.2% from the previous quarterly rate of $0.335 per share.
ITC Holdings Reports Increased Second Quarter and Year-to-Date 2011 Results; Raises 2011 Earnings Per Share and Capital Guidance
NOVI, Mich., July 27, 2011 /PRNewswire/ --
Highlights
- Net income for the second quarter of $43.0 million, or $0.83 per diluted common share
- Net income for the six months ended June 30, 2011 of $85.0 million, or $1.64 per diluted common share
- Capital investments of $271.6 million for the six months ended June 30, 2011
- 2011 earnings per share guidance increased to $3.25 to $3.35 per share and capital expenditure guidance increased to $600 to $645 million
ITC Schedules Second Quarter 2011 Earnings Release and Webcast of Earnings Call
NOVI, Mich., July 14, 2011 /PRNewswire/ -- ITC Holdings Corp. (NYSE: ITC) today announced that it will release consolidated financial results for the second quarter ended June 30, 2011, after the market closes on July 27, 2011.