About Electric Transmission Texas
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Electric Transmission Texas, LLC (ETT) is a joint venture between American Electric Power (NYSE: AEP) and MidAmerican Energy Holdings Company (MidAmerican), which will build transmission projects within the Electric Reliability Council of Texas (ERCOT).
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 Central Company to ETT and establishing rates for transmission services.
“By partnering with MidAmerican, 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,” said Calvin Crowder, ETT president. “We look forward to demonstrating ETT’s value to the Texas marketplace and its consumers.”
Benefits of the ETT joint venture
By partnering with MidAmerican, 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. MidAmerican Energy Holdings 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. MidAmerican Energy Holdings Company is currently the fifth largest electric transmission owner in the United States.
American Electric Power (AEP)
AEP is one of the largest electric utilities in the United States, delivering electricity to more than 5 million customers in 11 states. AEP ranks among the nation’s largest generators of electricity, owning nearly 38,000 megawatts of generating capacity in the United States AEP also owns the nation’s largest electricity transmission system, a nearly 39,000-mile network that includes more 765 kilovolt extra-high voltage transmission lines than all other United States transmission systems combined.
AEP’s transmission system directly or indirectly serves about 10 percent of the electricity demand in the Eastern Interconnection, the interconnected transmission system that covers 38 eastern and central states and eastern Canada, and approximately 11 percent of the electricity demand in ERCOT, the transmission system that covers much of Texas. AEP’s 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. Information about AEP is available on the Internet at www.aep.com
MidAmerican EnergyMidAmerican, a majority-owned subsidiary of Berkshire Hathaway Inc., offers a commitment to long-term investment in the utility sector. MidAmerican is currently the fifth largest electric transmission owner in the United States.
MidAmerican, based in Des Moines, Iowa, is a global provider of energy services. Through its energy-related business platforms – PacifiCorp, MidAmerican Energy Company, CE Electric UK, Kern River Gas Transmission Company, Northern Natural Gas Company and CalEnergy – MidAmerican provides electric and natural gas service to more than 6.9 million customers worldwide. MidAmerican subsidiaries PacifiCorp and MidAmerican Energy Company own and operate more than 18,000 miles of electric transmission lines. Information about MidAmerican is available on the Internet at www.midamerican.com.
