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TWST: Would you give us a brief historical sketch of the company and a picture
of the things you are doing at the present time?
Mr. Welch: The company has been in business since March 2003. Basically, we own,
operate, and maintain the high voltage electric transmission grid in
southeastern Michigan. Recently, we announced the signing of a definitive
agreement to acquire the Michigan Electric Transmission Company, which is on the
western side of Michigan. When that acquisition is complete, we will then own,
operate, and maintain 85% of the high voltage electric transmission in the State
of Michigan, serve approximately 10 million customers, and have a combined load
of over 22,000 megawatts. That would then make us the 10th largest electric
transmission company in the United States. TWST: What needs to be done to make the acquisition work well and go smoothly?
Mr. Welch: Right now, we are still waiting for the Federal Energy Regulatory
Commission to give us their blessing in the form of an official order, which we
expect shortly. And then from there the ball really gets back in our court and
we get to do the things we do best, which is the work that we do here. We have
been working with the folks at Michigan Electric Transmission Company now on
integration activities since the announcement of the transaction and just about
everything is lined up and ready to go.
Tickers included in this excerpt: ITC
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