International Transmission Company Named Finalist for Industry Leadership Category of Platts 6th Annual Global Energy Awards

Oct 28, 2004

International Transmission Company Named Finalist for Industry Leadership Category of Platts 6th Annual Global Energy Awards

Young company honored for its impact on the energy industry; winners to be announced Friday, December 10.

Novi, Mich., Oct. 28, 2004 - Platts, provider of energy information, recently named International Transmission Company as a finalist in the Industry Leadership category of its 6th Annual Global Energy Awards.

According to Platts, the award is open to any energy company or group of companies from any sector that has "taken decisive action resulting in a substantial transformation or change of direction in the energy industry itself". Judging criteria include involvement in a range of activities, innovative skill, customer care, environmental care, safety and commercial success.

In particular, ITC's strength as a candidate comes from its commitment to customer service, dedication to the environment and innovation:

  • As recognized by Federal Energy Regulatory Commission Chairman Patrick Henry Wood, III, International Transmission is the first fully independent transmission company in the country. Although the company's employees have an average of 17 years industry experience, the International Transmission was essentially a "start-up" beginning with 38 employees and growing to over 100 while also implementing the necessary functions to run a business in less than one year and completing the tasks associated with becoming truly independent.
  • As a company that is singularly focused on the transmission business, International Transmission reinvests 80 percent of its revenue directly back into funding infrastructural improvements to its transmission system in an effort to improve reliability, reduce system congestion and reduce the total cost of delivered energy.
  • International Transmission incorporates innovative methods into their robust maintenance program. Using helicopter flyovers and thermography to identify potential problem areas or "hot spots", International Transmission addresses maintenance issues before they can lead to more significant, costly issues.
  • The company's vegetation management program ensures the transmission corridors are an environmentally friendly habitat for native species of plants and animals.
  • International Transmission has also been doing its part to help communities and their environment by granting municipalities development rights to its easements, thereby facilitating the conversion of the land into bike paths and nature trails.
  • International Transmission's innovative skill is seen in its unprecedented procurement practices. International Transmission conducts reverse auctions that allow vendors to competitively bid on projects to reduce the total project cost.

"Platts' Global Energy Awards is the 'Oscars' of the energy industry," said Joseph Welch, president and CEO of International Transmission Company. "We take pride in what we do at International Transmission and are deeply honored to have that work recognized across the entire energy industry by such a prestigious institution."

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

Franco Public Relations
Erin Mays
313.567.5016
mays@franco.com