Entergy files application with FERC for spin-off/merger

NEW ORLEANS — ITC Holdings Corp. and Entergy Corporation have filed a joint application with the Federal Energy Regulatory Commission (FERC) seeking approval for Entergy’s utility operating companies to spin off and merge their electric transmission businesses into a subsidiary of ITC.

Upon closing of the transaction, ITC will become one of the largest electric transmission companies in the U.S., with more than 30,000 miles of transmission lines spanning 11 states from the Great Lakes to the Gulf Coast, according to Entergy.

The FERC application seeks approval for Entergy to transfer more than 15,800 miles of interconnected transmission lines at voltages of 69kV and above and the associated substations in Arkansas, Louisiana, Mississippi, Missouri and Texas to ITC. These assets then will be placed under the functional control of the Midwest Independent Transmission System Operator or MISO, a party to the FERC filing. Meanwhile, Entergy’s operating companies will continue to own and operate their respective distribution and generation businesses and will provide customer service, billing, outage reporting and restoration services to homes and businesses in the region.