ITC Holdings Corp. (ITC) Statement on FERC MISO Base ROE Order

NOVI, Mich., Nov. 22, 2019 /PRNewswire/ -- ITC Holdings Corp. president and CEO Linda Apsey today issued the following statement regarding yesterday's order from the Federal Energy Regulatory Commission (FERC), which determined a new prospective base return on equity (ROE) of 9.88% for Midcontinent Independent System Operator, Inc. (MISO) transmission owners:

"ITC is disappointed in FERC's decision to further reduce base ROEs for transmission.  It is important for transmission owners and operators to earn a reasonable and stable return on equity in order to have efficient and cost-effective access to capital to make the needed investments to meet the changing energy landscape, increasing cyber and physical security requirements, and address ongoing reliability and aging infrastructure needs.  We will continue to review the order over the coming days for a fuller analysis of its impact on our MISO utilities."

About ITC Holdings Corp.
ITC is a subsidiary of Fortis Inc., a leader in the North American regulated electric and gas utility industry. For further information visit www.fortisinc.com.

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SOURCE ITC Holdings Corp.