FERC Chairman Pat Wood, III, Endorses International Transmission Business Model During Speech

Mar 29, 2004

Novi, Mich., March 29, 2004 - Federal Energy Regulatory Commission (FERC) Chairman Pat Wood, III, commended International Transmission Company's progress towards the goal of providing greater efficiency in the transmission of electricity, better system reliability, and lower overall costs for ITC customers during comments he made at an open house event on March 25, 2004, to celebrate the electrical power transmission company's first year in business.

Wood, along with approximately 120 electrical power industry and government representatives, had an opportunity to tour the facility, including its state-of-the-art Operations Control Room, the hub in providing reliable power to southeastern Michigan.

Wood pointed to the success of the International Transmission business model as proof that independent transmission systems do work to further the nation's objective of creating a reliable, open access electric market.

"International Transmission Company is the first truly stand-alone, independent transmission company in the United States of America," said Wood, "and has accomplished this remarkable goal within its first year of existence. Let it serve as an example as we strive to provide reliable, affordable energy to customers across the country."

FERC was given responsibility for opening the nation's electric grid in the early 1990's, and continues to push for greater system reliability under Chairman Wood, who was appointed by President Bush in 2001.

Wood also applauded International Transmission's commitment to labor, noting the close working relationship between the company and the Utility Worker's Union of America (UWUA), represented in southeastern Michigan by UWUA Local 223 and the Locals 17 and 58 of the International Brotherhood of Electrical Workers (IBEW).

"This exemplifies the spirit of cooperation that will result in a better transmission system," said Wood. "By International Transmission working closely with the IBEW and the UWUA, over 500 jobs are expected to be created to support ITC's 2004 $85 million dollar capital projects program and a $22 million operations and maintenance program."

Capital improvement projects, such as the Jewell-Spokane 230kV upgrade, add new facilities and equipment to the International Transmission system and/or convert existing facilities to higher capacities. This helps to relieve congestion, which in turn reduces overall energy rates.

Rich Mata, representing the local, also praised International Transmission's use of labor, and highlighted International Transmission's role in creating jobs in Michigan.

"International Transmission is directly responsible for the creation of 80 highly skilled union jobs that provide good wages and benefits," said Mata, "we are gratified to have been a part of this great team effort."

Mike Langford, national vice president for the UWUA, echoed Mata's sentiments, commending International Transmission for creating opportunities for a highly technical, highly skilled union workforce.

Another evening highlight was the presentation of a joint gubernatorial and legislative tribute by Victor Cassis, husband of State Senator Nancy Cassis. The tribute, presented on behalf of Governor Jennifer Granholm, Senator Cassis, and Representative Craig DeRoche, praised International Transmission's dedication to job creation in Michigan.

Recapping the evening, Joe Welch, president and CEO of International Transmission, said, "Tonight we celebrate not only our first year as a stand alone, independent company, but it was also a statement to our supporters and our customers that we have state-of-the-art capabilities and the dedication to stay the course and realize our goal of improving reliability and lowering the total cost of delivered energy."

International Transmission's service territory covers 7,500 square miles in southeastern Michigan. This includes all or parts of 13 counties and metropolitan Detroit, an area with more than 4.9 million people. Its system comprises more than 2,500 pole-miles of overhead and underground high-voltage transmission lines, transmission structures (poles, towers), 28 transmission stations, rights-of-way and easements, and the power coordination center in Ann Arbor.

International Transmission invests in infrastructure and engineering solutions that create greater efficiency in the flow of electricity, increased system reliability and lower overall energy costs.

For more information, visit www.itctransco.com

Contact:
International Transmission Company
Lisa Roseland
248.374.7294
lroseland@itctransco.com

Franco Public Relations Group
Marc Harlow
313.567.5014
harlow@franco.com