HOUSTON, Sept 13 Entergy Corp will soon
resubmit a plan to transfer its electric transmission assets to
ITC Holdings for a second look by Texas utility
regulators, company officials said Friday.
Last month, the $1.78 billion proposal faced certain
rejection by the Texas Public Utility Commission and was
withdrawn by Entergy Texas and ITC officials.
Since then, other states regulators that also must approve
the transaction moved to delay consideration, fueling
speculation that the deal might not be completed.
"We will soon re-file our application in Texas for the ITC
transaction, and we'll request expedited treatment," Entergy
spokesman Mike Burns said in a statement.
The transaction is a spin-off and merger of Entergy's
15,400-mile transmission network serving parts of Arkansas,
Louisiana, Mississippi and Texas. It has been approved by
federal regulators and ITC shareholders.
"After re-filing in Texas, we'll get procedures restarted in
Arkansas, Louisiana and New Orleans. In Mississippi, we'll
respond to proposed conditions later this month," Burns said.