ITC Great Plains Energizes V-Plan Transmission Line and Project Substations in Western Kansas

Dec 18, 2014

ITC Great Plains Energizes V-Plan Transmission Line and

Project Substations in Western Kansas

Novi, Mich., December 18, 2014 – ITC Great Plains, LLC, in conjunction with Sunflower Electric Power Corporation and Mid-Kansas Electric Company, has placed the V-Plan high-voltage electric transmission line and the Clark County, Ironwood and Spearville substations into service in western Kansas. The 122-mile double-circuit, 345,000-volt (345kV) transmission line runs east of Medicine Lodge, Kan., to Spearville, Kan., and is designed to connect eastern and western Kansas in order to improve electric reliability, enable energy developers to tap into the transmission grid, and promote economic development in the region.

“The completion of the V-Plan project demonstrates ITC’s ongoing commitment to helping Kansas and the region modernize and expand critical energy infrastructure,” said Joseph L. Welch, chairman, president and CEO of ITC Holdings Corp. “Projects such as this reinforce the value that ITC brings to the region as a transmission owner and operator by providing much-needed transmission investment across the Southwest Power Pool footprint. Customers benefit from an efficient, reliable grid that provides access to a variety of energy resources.”

ITC’s investment in high-voltage infrastructure in the Southwest Power Pool region is founded upon open access to the grid and collaboration with energy stakeholders to develop a transmission system that meets current demands and the evolving needs of the future. It is through ITC’s relationship with Sunflower, Mid-Kansas, and other Kansas utilities that the V-Plan project came to fruition, a significant stride in the development of a regional and versatile transmission system.

“The V-Plan project was supported by many key stakeholders to include Governor Brownback and his administration; the Kansas Legislature; the Kansas Electric Transmission Authority; the Southwest Power Pool; and our utility partners, Sunflower and Mid-Kansas,” said Kristine Schmidt, president, ITC Great Plains. “As a result of this collaborative effort, the V-Plan transmission project was completed on time and on budget and will result in the state and region benefiting from a markedly improved, reliable and modern grid.”

“As additional demands continue to be placed on the transmission grid, high-voltage transmission projects like the V-Plan are critical to the continued delivery of reliable, affordable energy, not only to our cooperative members but also to electric consumers in our region and across the nation,” said Stuart Lowry, president and CEO of Sunflower and Mid-Kansas. “We appreciate the opportunity to work with ITC on this project and the support we received from Kansas leadership and the Southwest Power Pool. All involved can be proud of this transmission project, which will enhance electric service in the region and beyond for generations to come.”

Video:  ITC V-Plan Transmission Line Enters Service

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About ITC Great Plains

ITC Great Plains, LLC is a transmission-only utility operating in the Southwest Power Pool region. The company currently owns and operates approximately 436 circuit miles of transmission lines in Kansas and Oklahoma. ITC Great Plains maintains regional offices in Dodge City and Topeka, Kansas and Oklahoma City, Oklahoma. ITC Great Plains is a subsidiary of ITC Grid Development, LLC, a wholly-owned subsidiary of ITC Holdings Corp., the nation’s largest independent electric transmission company. ITC’s focus on transmission and grid development drives operational excellence and delivers superior value for customers, communities and other stakeholders.

About ITC Holdings Corp.

ITC Holdings Corp. (NYSE: ITC) is the nation’s largest independent electric transmission company. Based in Novi, Michigan, ITC invests in the electric transmission grid to improve reliability, expand access to markets, lower the overall cost of delivered energy and allow new generating resources to interconnect to its transmission systems. ITC’s regulated operating subsidiaries include ITCTransmission, Michigan Electric Transmission Company, ITC Midwest and ITC Great Plains. Through these subsidiaries, ITC owns and operates high-voltage transmission facilities in Michigan, Iowa, Minnesota, Illinois, Missouri, Kansas and Oklahoma, serving a combined peak load exceeding 26,000 megawatts along 15,400 circuit miles of transmission line. Through ITC Grid Development and its subsidiaries, the company also focuses on expansion in areas where significant transmission system improvements are needed. For more information, please visit ITC’s website at www.itc-holdings.com.

 

Safe Harbor Statement

This press release contains certain statements that describe our management’s beliefs concerning future business conditions, plans and prospects, growth opportunities and the outlook for our business and the electricity transmission industry based upon information currently available. Such statements are “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995. Wherever possible, we have identified these forward-looking statements by words such as “will,” “may,” “anticipates,” “believes,” “intends,” “estimates,” “expects,” “projects” and similar phrases. These forward-looking statements are based upon assumptions our management believes are reasonable.  Such forward looking statements are subject to risks and uncertainties which could cause our actual results, performance and achievements to differ materially from those expressed in, or implied by, these statements, including, among others, the risks and uncertainties disclosed in our annual reports on Form 10-K, quarterly reports on Form 10-Q and other filings made with the Securities and Exchange Commission.

Because our forward-looking statements are based on estimates and assumptions that are subject to significant business, economic and competitive uncertainties, many of which are beyond our control or are subject to change, actual results could be materially different and any or all of our forward-looking statements may turn out to be wrong.  Forward-looking statements speak only as of the date made and can be affected by assumptions we might make or by known or unknown risks and uncertainties. Many factors mentioned in our discussion in this release and in our annual and quarterly reports will be important in determining future results. Consequently, we cannot assure you that our expectations or forecasts expressed in such forward-looking statements will be achieved. Except as required by law, we undertake no obligation to publicly update any of our forward-looking or other statements, whether as a result of new information, future events, or otherwise.

 

Media contacts:

National:  Robert Doetsch, 248-946-3493; rdoetsch@itctransco.com

Local:  Liz Hunt, 405-536-0068;ehunt@itctransco.com

Investor/Analyst contact: Gretchen Holloway, 248-946-3595; gholloway@itctransco.com