ETT is a joint venture between subsidiaries of American Electric Power (AEP) and Berkshire Hathaway Energy Company (BHE).
Together we acquire, construct, own and operate transmission facilities within the Electric Reliability Council of Texas (ERCOT), primarily in and around the AEP Texas service territory.
On Oct. 31, 2007, the Public Utility Commission of Texas (PUCT) issued an order granting a Certificate of Convenience and Necessity (CCN) for ETT to operate as a transmission-only utility providing services in ERCOT, allowing the transfer of approximately $70 million of assets from AEP Texas to ETT and establishing rates for transmission services.
By partnering with Berkshire Hathaway Energy Company, a company with a long-term commitment to its investments and significant transmission operating experience, AEP enhances its ability to make transmission investments in Texas to meet ERCOT needs. ETT looks forward to demonstrating ETT's value to the Texas marketplace and its consumers.
The joint venture will provide an infusion of outside capital into the transmission infrastructure in Texas and brings together two of the preeminent transmission developers in the world. The increased transmission capacity will support continued reliable electric service, enhance the efficiency of the wholesale electric market and encourage the development of renewable generation.
As owner and operator of the nation's largest transmission system, AEP brings more than 100 years of expertise in planning, siting, building and operating high-voltage transmission to this venture. Berkshire Hathaway Energy Company, with access to the substantial capital resources of its corporate parent, Berkshire Hathaway Inc., is committed to being a long-term investor in the utility sector.
American Electric Power (AEP) is one of the largest electric utilities in the United States, serving approximately 5.6 million customers across an expansive 200,000-square-mile service territory. AEP operates in 11 states, including Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia, and West Virginia.
With a robust asset base of $114 billion and a workforce of approximately 17,000 employees, AEP maintains a strong operational footprint. The company powers customers' lives through 33 GW of generating capacity, 40,000 miles of transmission lines, and 252,000 miles of distribution lines, supporting reliable energy delivery across its service areas.
Information about AEP is available at www.aep.com.
Berkshire Hathaway Energy is a holding company that has investments in businesses principally engaged in the energy industry. Berkshire Hathaway Energy's $148 billion portfolio consists of locally managed businesses that share a vision of being the best energy company in serving its customers, while delivering sustainable energy solutions. These businesses deliver low-cost, safe and reliable service each day to more than 13 million customers and end-users throughout the U.S., Great Britain and Alberta, Canada.
Berkshire Hathaway Energy has investments in four utility companies in the U.S. serving customers in 11 states. PacifiCorp is headquartered in Oregon and provides electric service to customers in California, Idaho, Oregon, Utah, Washington and Wyoming; MidAmerican Energy is headquartered in Iowa and serves electric and natural gas customers in Iowa, Illinois, Nebraska and South Dakota; and NV Energy is headquartered and provides electric and natural gas service in Nevada. BHE U.S. Transmission, a transmission development company, owns and operates transmission assets in several regions of the U.S.
Berkshire Hathaway Energy's U.S. utility subsidiaries own approximately 28,330 miles of electric transmission lines and are engaged in significant transmission investment projects, both independently and through subsidiary joint ventures.
Berkshire Hathaway Energy is headquartered in Des Moines, Iowa, U.S.A. Additional information about Berkshire Hathaway Energy is available at http://www.brkenergy.com.
