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ITC expresses concern over lack of power grid reforms in Waxman-Markey Bill

Posted on: Tue, 30 Jun 2009 09:33:00 EDT

Symbols: ITC

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Jun 30, 2009 (Datamonitor via COMTEX) --
ITC | Quote | Chart | News | PowerRating -- US-based electricity grid operator ITC Holdings has expressed concerns about the lack of needed comprehensive electricity transmission policy reforms included in the American Clean Energy and Security Act, or the Waxman-Markey Bill, passed by the US House of Representatives.

The company, meanwhile, appreciated the US Senate on its proposal addressing how to plan, build and pay for transmission in the country. The house bill includes a program to control greenhouse gas emissions and a new federal mandate for the use of renewable energy resources.

ITC has said that while it commends the efforts by Energy and Commerce Committee chairman Henry Waxman and representative Jay Inslee to expand the transmission title of the legislation, the outcome has limited proposal that is far less helpful than its Senate counterpart.

Joseph Welch, chairman, president and CEO of ITC, said: "Congress cannot fully achieve the objectives of reducing greenhouses gases set forth in this legislation without significant, additional reforms to the way transmission is planned, sited and paid for.

"Grid modernization and regional transmission construction are fundamental to a national energy policy. In order for this policy to be effective, it must provide a comprehensive means for addressing current industry challenges."

Mr Welch pointed out that under the current system of balkanized regulatory oversight, it is difficult to develop and implement strategically planned, cross-regional transmission projects; and said that the US must move beyond parochial concerns and draft policies that meet the nation's energy security and environmental goals.

The Senate energy bill has the framework required for Congress to achieve these goals as it moves forward on finalizing legislation, Welch said.

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