HOUSTON, Sept 23 Entergy Corp
resubmitted a plan to Texas regulators on Monday, proposing to
transfer its electric transmission assets to ITC Holdings
, company officials said.
Last month, the $1.78 billion proposal faced certain
rejection by the Texas Public Utility Commission (PUC) and was
withdrawn by Entergy Texas and ITC officials.
Since then, regulatory consideration of the deal has stalled
in Louisiana and Arkansas.
The transaction is a spin-off and merger of Entergy's
15,400-mile transmission network serving parts of Arkansas,
Louisiana, Mississippi and Texas.
The new filing includes a plan offered by Entergy and ITC
Holdings to protect consumers from higher transmission costs by
reducing rates by $92.7 million over five years.
"The refiling allows the full scope of the companies' rate
mitigation plan to be formally considered in the new docket,"
The rate mitigation plan was not considered by the Texas PUC
because it was presented after a deadline in the case.
Entergy and ITC have asked the Texas PUC to consider the new
filing on an expedited basis to allow a decision by the end of
"The 'pause' allowed us to enhance the application, respond
concisely and concretely to key concerns and issues, and
demonstrate the key customer benefits and rate protections,"
said Entergy Texas spokesman David Caplan. "We're still
enthusiastic over this transaction."
To address concerns from state regulators that the
transaction benefits may not outweigh increased costs, Entergy
and ITC have offered a total of $453 million in rate-mitigation
funds to lower Entergy customer rates across its four-state