FERC has cleared an ITC Holdings subsidiary to buy nearly a quarter million dollars’ worth of transmission assets from a Michigan municipal power agency as part of a settlement over transmission system access.
The $247,225.99 sale of transmission assets in southern Michigan from Michigan South Central Power Agency (MSCPA) to Michigan Electric Transmission Co. (METC) is consistent with public interest, FERC said on Monday (EC18-35).
The sale satisfies part of a settlement approved by the commission last year after a 2016 MSCPA complaint alleging METC was trying to restrict the agency’s ownership entitlements to the transmission system and improperly collect annual payments as high as $1.7 million for transmission use, in violation of a contract struck in 1980. METC’s change to the contract’s terms was prompted by the 2016 retirement of MSCPA’s 62-MW Endicott Generating Station.
FERC said the transmission sale will have no impact on rates or competition. METC also committed to hold customers harmless from any costs related to the sale.
— Amanda Durish Cook
