The largest independently-owned electric transmission company in the United States is International Transmission Company, founded in 2003. It was formerly owned by DTE Energy, the parent of Detroit Edison.
Part of the business strategy used by ITC included operating, maintaining, and investing in transmission infrastructure to boost system unity and reliability while cutting down on restrictions involving transmissions. A goal of this strategy was aimed at reducing the overall cost of delivered energy for end-users by offering them electricity access from inexpensive sources.
As transmission utilities with Federal Energy Regulatory Commission (FERC) regulated rates, ITC’s operating subsidiaries accepted revenues via fees received by customers using the electricity systems. A couple of examples of these were utilities belonging to investors, urban areas, power marketers and more. The rate costs were developed with an approach geared toward cost-of-service and they were calculated every year, which helped with expenses recovery and income taxes while also resulting in a strong return on investment.
In the beginning, ITC managed the operation of the regulated transmission of high-voltage electricity across a large portion of Southeastern Michigan, including the metro area of Detroit. ITC would go on to become a leader after the acquisition of transmission systems related to Consumers Energy.
ITC’s many achievements include its innovative process of a greenfield transmission-only utility known as ITC Great Plains and it has discovered and expedited crucial regional projects. Moreover, ITC assembled an impressive portfolio of actionable development projects. It continues to explore inventive approaches to better grid improvement.
For additional information about ITC, please visit https://www.itc-holdings.com.