Founded in 2003, International Transmission Company has the distinction of being the largest independently-owned electric transmission company in the United States. It was formerly owned by DTE Energy, parent of Detroit Edison.
ITC’s business strategy involved the operation, maintenance and investing of transmission infrastructure for the purpose of enhancing system unity and reliability while also cutting down on transmission restrictions. By employing this strategy, ITC aimed to cut down the total cost of delivered energy for end-use consumers by offering them access to electricity from sources with the lowest costs.
As transmission utilities with Federal Energy Regulatory Commission (FERC) regulated rates, ITC’s operating subsidiaries attained revenues via fees charged to customers for electricity transmission systems use. These included investor-owned utilities, municipalities, power marketers and more. The charged rates were developed with a cost-of-service approach and were calculated each year, allowing for expenses recovery and income taxes plus a highly definite return on investment.
In the beginning, ITC owned and operated the regulated transmission of high-voltage electricity across the Southeastern Michigan area, including the metropolitan area of Detroit. ITC soon became a leading company after its acquisition of adjacent transmission system associated with Consumers Energy.
Among the many accomplishments of ITC, it has pioneered a greenfield transmission-only utility dubbed ITC Great Plains, it has identified and facilitated critical regional projects, and it has developed an impressive portfolio of actionable development projects. It also continues to explore creative approaches to boost the modernization of the grid.
To learn more about ITC, please visit https://www.itc-holdings.com.