Dive Summary:
- On Tuesday, a panel of administrative judges recommended the Texas Public Utility Commission (PUC) block Entergy Corp.'s divestment of its grid operations to ITC Holdings Corp.
- Valued at $1.78 billion, the deal will spin off Entergy's transmission assets across four states and then merge them into an ITC Holdings Corp.'s subsidiary ITC Midsouth LLC.
- The Federal Energy Regulatory Commission (FERC) approved the deal in June but state regulators wonder if the deal will increase customers' rates without any significant return.
From the article:
The recommendation, which is subject to review by the Texas Public Utility Commission, could damage Entergy's effort to complete the transfer of grid operations in four states in a deal valued at $1.78 billion.