Profile: ITC Holdings Corp (ITC)

ITC on New York Consolidated

37.33USD
22 Aug 2014
Price Change (% chg)

$0.02 (+0.05%)
Prev Close
$37.31
Open
$37.33
Day's High
$37.49
Day's Low
$36.95
Volume
535,204
Avg. Vol
1,001,042
52-wk High
$38.43
52-wk Low
$28.72

Search Stocks

ITC Holdings Corp. (ITC Holdings), incorporated on November 8, 2002, is engaged in the electric transmission operations of its Regulated Operating Subsidiaries. The Company operates 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 Company’s Regulated Operating Subsidiaries earn revenues through tariff rates charged for the use of their electric transmission systems by its customers, which include investor-owned utilities, municipalities, cooperatives, power marketers and alternative energy suppliers. The Company’s Regulated Operating Subsidiaries function as conduits, allowing for power from generators to be transmitted to local distribution systems either entirely through their systems or in conjunction with neighboring transmission systems.

The transmission of electricity by its Regulated Operating Subsidiaries is a central function to the provision of electricity to residential, commercial and industrial end-use consumers. The operations performed by its Regulated Operating Subsidiaries include asset planning; engineering, design and construction; maintenance, and real time operations.

Asset Planning

The Company’s asset planning group uses detailed system models and long-term load forecasts to develop its system expansion capital plans. Asset Planning works closely with Midwest Independent Transmission 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. As the regional planning authorities, MISO and SPP approve c, which include projects to be constructed by their members, including its Regulated Operating Subsidiaries.

Engineering, Design and Construction

The Company’s 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 engineering and design and all of its construction.

Maintenance

The Company’s Regulated Operating Subsidiaries contract with Utility Lines Construction Services, Inc. (ULCS), which is a division of Asplundh Tree Expert Co. The Company performs their maintenance.

Real Time Operations

From the Company’s operations facility in Novi, Michigan, transmission system operators continuously monitor the performance of the transmission systems of its Regulated Operating Subsidiaries, using software and communication systems to perform analysis to plan for contingencies. Transmission system operators are also responsible for the switching and protective tagging function, taking equipment in and out of service to ensure capital construction projects and maintenance programs can be completed.

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). From its operations facility in Novi, Michigan, its performs the LBA functions as outlined in MISO’s Balancing Authority Agreement. These functions include actual interchange data administration and verification and MECS LBA area emergency procedure implementation and coordination.

Operating Contracts

The Company’s Regulated Operating Subsidiaries has range of operating contracts, including numerous interconnection agreements with generation and transmission providers. The Detroit Edison operates the electric distribution system to which ITCTransmission’s transmission system connects. A set of three operating contracts sets forth the terms and conditions related to Detroit Edison’s and ITCTransmission’s ongoing working relationship.

Consumers Energy operates the electric distribution system to which METC’s transmission system connects. METC is a party to a number of operating contracts with Consumers Energy Company (Consumers Energy), which governs the operations and maintenance of its transmission system. Interstate Power and Light Company (IP&L) operates the electric distribution system, to which ITC Midwest’s transmission system connects. ITC Midwest is a party to a number of operating contracts with IP&L that govern the operations and maintenance of its transmission system.

Company Address

ITC Holdings Corp

27175 Energy Way
NOVI   MI   48377
P: +1248.9463000
F: +1248.3747140

Company Web Links

Search Stocks