Posts Tagged ‘ITC Holdings Corp.’

PSC unanimously rejects Entergy-ITC proposed merger

JACKSON — Mississippi utility regulators have unanimously rejected a merger proposal by Entergy Corp. and ITC Holdings Corp., saying the deal could have meant a $300-million rate increase for Mississippi customers over 30 years. “We respect Entergy’s desire to improve its organizational effectiveness, but the commission was not persuaded the transfer of ownership would be […] [...]

Entergy-ITC merger back on after refiling in Texas

NEW ORLEANS — Entergy Corp. and ITC Holdings Corp. have refiled their merger application in Texas, indicating the companies believe they can go forward without restructuring their overall merger agreement. The companies are pushing for Texas to make a decision by Dec. 19, and say they will ask regulators in other states to restart consideration. […] [...]

Still no new filings in Entergy-ITC merger

JACKSON — Almost a month after Entergy Corp. and ITC Holdings Corp. withdrew their merger application in Texas, they haven’t refiled. Since then, Louisiana, Arkansas and Mississippi have delayed consideration of the merger. “We’re wanting to see where Texas goes on this,” said Eric Skrmetta, chairman of the Louisiana Public Service Commission. Observers say the […] [...]

Entergy, ITC retool agreement in the face of opposition

NEW ORLEANS — Faced with likely rejection because of procedural reasons, Entergy Corp. and ITC Holdings Corp. have withdrawn their Texas application to merge transmission systems. The move came at the end of an hours-long hearing Friday in Austin, Texas, before the state’s Public Utility Commission. New Orleans-based Entergy and Michigan-based ITC are trying to […] [...]

Entergy Corp. gives earnings guidance for second quarter

NEW ORLEANS — Entergy Corporation expects second quarter 2013 as-reported earnings of approximately $0.91 per share and operational earnings of approximately $1.00 per share. Results for second quarter 2012 were $2.06 per share on an as-reported basis and $2.11 per share on an operational basis. Entergy also affirmed previously issued operational earnings guidance for 2013. […] [...]

Entergy expecting 1Q loss

NEW ORLEANS — Utility holding company Entergy Corp. said Thursday that it expects to post a first-quarter loss because of a financial impairment one of its nuclear plants and expenses from its proposed spinoff of its electric transmission business. The company also lowered its profit guidance for 2012 because of the non-cash write-off and warm […] [...]

Entergy to spin off transmission business to ITC

Utility holding company Entergy Corp. plans to spin off its electric transmission business and merge it into ITC Holdings Corp., which operates power transmission lines in the Midwest. Entergy, based in New Orleans, said Monday that it will receive about $1.78 billion in cash, and its stockholders will receive shares of a new company created […] [...]

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