Profile: ITC Holdings Corp (ITC)
30 Jun 2016
ITC Holdings Corp. (ITC Holdings), incorporated on November 8, 2002, is a holding company. The Company is engaged in owning, operating, maintaining and investing in transmission infrastructure. The Company's business consists primarily of the electric transmission operations of its Regulated Operating Subsidiaries. Its Regulated Operating Subsidiaries include International Transmission Company (ITCTransmission), Michigan Electric Transmission Company, LLC (METC), ITC Midwest LLC (ITC Midwest). The Company's customers include investor-owned utilities, municipalities, cooperatives, power marketers and alternative energy suppliers. It owns and operates high-voltage systems in Michigan's Lower Peninsula and portions of Iowa, Minnesota, Illinois, Missouri, Kansas and Oklahoma that transmit electricity from generating stations to local distribution facilities connected to its systems.
The Thumb Loop Project, constructed by ITCTransmission, consists of an approximately 140-mile, double-circuit over 340 kilovolt transmission line and related substations. The operations performed by its Regulated Operating Subsidiaries fall into the various categories, such as asset planning; engineering, design and construction; maintenance, and real time operations.
The Asset Planning group uses system models and load forecasts to develop the Company's system expansion capital plans. The Company's expansion capital plans identify projects that would address reliability issues and/or produce economic savings for customers. The Asset Planning group works closely with Midcontinent Independent System Operator, Inc. (MISO) and Southwest Power Pool, Inc. (SPP) in the development of its system expansion capital plans by performing technical evaluations and detailed studies.
Engineering, Design and Construction
The Engineering, Design and Construction group is responsible for design, equipment specifications, maintenance plans and project engineering for capital, operation and maintenance work. The Company works with outside contractors to perform various aspects of its engineering, design and construction.
The Company develops and tracks preventive maintenance plans to promote reliable systems. The Company's Regulated Operating Subsidiaries contract with Utility Lines Construction Services, Inc. (ULCS), to perform their maintenance.
Real Time Operations
The Company's real time operations include system operations and local balancing authoring operations. From its operations facility in Novi, Michigan, transmission system operators monitor the performance of the transmission systems of its Regulated Operating Subsidiaries, using software and communication systems to perform analysis to plan for contingencies and maintain security, and reliability following any unplanned events on the system. Under the functional control of MISO, ITCTransmission and METC operate their electric transmission systems as a combined Local Balancing Authority (LBA) area, known as the Michigan Electric Coordinated Systems (MECS).
ITC Holdings Corp
27175 Energy Way
NOVI MI 48377
Company Web Links
- BRIEF-ITC Shareholders approve Fortis acquisition of ITC Holdings
- BRIEF-ITC Holdings files for potential debt shelf offering
- BRIEF-Itc Holdings announces corporate leadership changes
- BRIEF-Rejji Hayes gets promoted to CFO for ITC Holdings
- Singapore fund GIC to buy stake in US power group ITC for $1.23 bln