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MidAmerican and AEP Proceed with JV for Transmission Facilities

MidAmerican Energy Holdings and American Electric Power (AEP) are moving forward with forming the Electric Transmission Texas LLC (ETT), a joint venture to build transmission facilities in Texas. ETT filed with the Public Utility Commission of Texas (PUCT) for approval to operate as an electric transmission utility in Texas.

“There is a critical need to expand the Texas electric transmission grid to meet growing energy demands, reduce congestion and support development of the Competitive Renewable Energy Zones being established in Texas,” said Calvin Crowder, who was recently named executive director of ETT, and may well be named president of ETT when the joint venture begins operations. AEP and MidAmerican anticipate ETT, which will be based in Austin, Texas, may begin operations in the second half of 2007. The companies also executed a participation agreement creating the framework for ETT to build and own new transmission facilities within the Electric Reliability Council of Texas (ERCOT) when ETT receives regulatory approval and other closing conditions are met.