ETT is a joint venture between subsidiaries of American Electric Power (AEP) and Berkshire Hathaway Energy Company (BHE).
Together we acquire, construct, own and operate transmission facilities within the Electric Reliability Council of Texas (ERCOT), primarily in and around the AEP Texas service territory.
On Oct. 31, 2007, the Public Utility Commission of Texas (PUCT) issued an order granting a Certificate of Convenience and Necessity (CCN) for ETT to operate as a transmission-only utility providing services in ERCOT, allowing the transfer of approximately $70 million of assets from AEP Texas to ETT and establishing rates for transmission services.
By partnering with Berkshire Hathaway Energy Company, a company with a long-term commitment to its investments and significant transmission operating experience, AEP enhances its ability to make transmission investments in Texas to meet ERCOT needs. ETT looks forward to demonstrating ETT's value to the Texas marketplace and its consumers.
The joint venture will provide an infusion of outside capital into the transmission infrastructure in Texas and brings together two of the preeminent transmission developers in the world. The increased transmission capacity will support continued reliable electric service, enhance the efficiency of the wholesale electric market and encourage the development of renewable generation.
As owner and operator of the nation's largest transmission system, AEP brings more than 100 years of expertise in planning, siting, building and operating high-voltage transmission to this venture. Berkshire Hathaway Energy Company, with access to the substantial capital resources of its corporate parent, Berkshire Hathaway Inc., is committed to being a long-term investor in the utility sector.
AEP is one of the largest electric utilities in the United States, delivering electricity and custom energy solutions to nearly 5.4 million customers in 11 states. AEP owns or operates about 60 generating stations in the United States, with a capacity of approximately 26,000 megawatts. AEP also owns the nation's largest electricity transmission system, a more than 40,000-mile network that includes more 765- kilovolt extra-high voltage transmission lines than all other United States transmission systems combined.
AEP's regulated utility units operate as AEP Ohio, AEP Texas, Appalachian Power (in Virginia and West Virginia), AEP Appalachian Power (in Tennessee), Indiana Michigan Power, Kentucky Power, Public Service Company of Oklahoma, and Southwestern Electric Power Company (in Arkansas, Louisiana and east Texas). AEP's headquarters are in Columbus, Ohio, U.S.A.
AEP is actively developing transmission assets in four RTOs including the Electric Reliability Council of Texas (ERCOT), the PJM Interconnection, LLC (PJM), the Southwest Power Pool, Inc. (SPP), and Midwest Independent System Operator (MISO).
Berkshire Hathaway Energy (BHE), a consolidated subsidiary of Berkshire Hathaway Inc., is a global energy services provider that owns an $85 billion portfolio of locally managed businesses that share a vision for a secure and sustainable energy future. These businesses deliver affordable, safe and reliable service each day to more than 11.6 million electric and natural gas customers and end-users worldwide and consistently rank high among energy companies in customer satisfaction. In the United States, BHE serves more than 5 million electric customers located in 10 Midwestern (Illinois, Iowa, and South Dakota) and western (California, Idaho, Nevada, Oregon, Utah, Washington, and Wyoming) states. BHE is headquartered in Des Moines, Iowa, U.S.A.
BHE's U.S. regulated utility operations include MidAmerican Energy Company (in Iowa), NV Energy (in Nevada), PacifiCorp (in California, Oregon and Washington), Rocky Mountain Power (in Idaho, Utah and Wyoming), and BHE U.S. Transmission, a transmission development company that owns and operates transmission assets in several regions of the United States.
BHE's U.S. utility subsidiaries own and/or operate more than 24,000 miles of transmission and are engages in significant transmission investment projects, both independently and through subsidiary joint ventures.
Information about BHE is available at www.berkshirehathawayenergyco.com.