COLUMBUS (dpa-AFX) - American Electric Power (AEP) on Wednesday said it has formed a new company with Great Plains Energy (GXP) to develop and invest in transmission. AEP owns 86.5 percent of the new company Transource Energy LLC, while Great Plains Energy owns 13.5 percent.
Through Transource, AEP and Great Plains Energy initially plan to pursue competitive transmission projects in the PJM Interconnection, Southwest Power Pool and Midwest ISO transmission regions.
Great Plains Energy will seek regulatory approval to transfer two Southwest Power Pool -approved regional transmission projects, located in Missouri, to Transource.
The Sibley-Nebraska City line is a 175-mile, 345-kilovolt line linking the Nebraska City substation with the Sibley substation. Transource will construct and own around 170 miles of the project while Omaha Public Power District would construct the remainder of the transmission line. The project, estimated to cost $380 million, has an anticipated in-service date of 2017.
The Iatan-Nashua line is a 30-mile, 345-kV line from the Iatan substation near Weston to the Nashua substation near Smithville. The Iatan-Nashua project, estimated to cost $54 million, has an anticipated in-service date of 2015.
Transource expects to file an application with the Missouri Public Service Commission this summer for line certificates granting authority to construct, own and operate these projects.
Copyright RTT News/dpa-AFX
© 2012 AFX News
