The Federal Energy Regulatory Commission (FERC) ruled against Pewaukee-based American Transmission Co. (ATC) in two separate decisions involving ATC’s ownership stake of major transmission line projects.
Siding with the overseer of the Midwest power grid, the FERC awarded Michigan-based ITC Holdings Corp. a 50% ownership stake in a planned $324 million power line connecting Madison and Dubuque, Iowa. The overseer requires utilities to share ownership of lines that cross from one utility’s territory into another’s.
Last year, the FERC awarded Xcel Energy 50% ownership of a proposed $500 million line between Madison and La Crosse.
As a result of the rulings, ATC’s potential investment in the projects has been reduced by over $400 million, which will affect profits for the local utilities that own the company, including Alliant Energy Corp., Wisconsin Energy Corp., and Integrys Energy Group, Inc.
