American Electric Power (AEP) and MidAmerican Energy Holdings Company are moving forward with formation of Electric Transmission Texas LLC (ETT) as a joint venture to build transmission facilities in Texas, USA.
ETT filed with the Public Utility Commission of Texas for approval to operate as an electric transmission utility in Texas. The filing also seeks to establish initial rates for ETT. Additionally, Calvin Crowder recently was named executive director of ETT. It is anticipated that Crowder will be named president of ETT when the joint venture begins operations. The companies also executed a participation agreement creating the framework for ETT to build and own new transmission facilities within the Electric Reliability Council of Texas (ERCOT) when ETT receives regulatory approval and other closing conditions are met. AEP and MidAmerican anticipate ETT will begin operations in the second half of 2007. The company will be based in Austin, Texas.
