67 WALL STREET, New York - August 18, 2014 - The Wall Street Transcript has just published its Alternative Energy & Utilities Report offering a timely review of the sector to serious investors and industry executives. This special feature contains expert industry commentary through in-depth interviews with public company CEOs and Equity Analysts. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.
Topics covered: Asia Pacific Demand for Solar Energy - Government Subsidies and Regulation - Solar Growth Drivers and Headwinds - Regulatory Headwinds for U.S. Utilities - Alternative Energy Generation - Utility Infrastructure Capital Expenditures - New Market Opportunities in Energy - Electric Vehicles
Companies include: ITC Holdings Corp. (ITC) and many more.
In the following excerpt from the Alternative Energy & Utilities Report, the Chairman, President and CEO of ITC Holdings Corp. (ITC) discusses company strategy and the outlook for this vital industry:
TWST: This year marks the first year of your new five-year capital plan. Can you give us an overview of that plan and tell us about some of the key projects?
Mr. Welch: We pretty much laid out all of our key projects and strategy to position the company for continued growth. The projects are pretty much divided between what I call our normal growth projects, which are rebuilding the grid, and new transmission development projects. More of our focus now has been in the grid to the west of us - mainly in Iowa, at ITC Midwest. We still have work going on here in Michigan, which is very significant with the coming completion of our Thumb Loop project, which we anticipate will be completed on time next year. We're also working in Kansas, nearing completion of our V-Plan project. So when you summarize those projects, that puts us well into the $730 million to $840 million range for capital this year.
TWST: How would you characterize the current regulatory and rate environments for the company?
Mr. Welch: Lots of people have had a lot of thoughts about it, and it gets written about, but I still think that the rate environment - even after the New England return on equity order and the guidance that FERC is starting to give on all of the others - is very positive. This is still a business, and in the marketplace, it is still going to get superior returns, and you couple that with our growth profile. I hate to say this, and it sounds like it's an advertisement, but it's still a compelling investment proposition for investors.
TWST: Earlier this year, I spoke to your former CFO, and he mentioned the implementation of Order 1000 and the potential to increase competition. Can you speak a little more specifically to that? How much of the headwind remains?
For more of this interview and many others visit the Wall Street Transcript - a unique service for investors and industry researchers - providing fresh commentary and insight through verbatim interviews with CEOs, portfolio managers and research analysts. This special issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.