FERC Tells DC Circ. It Got Grid Incentive Rate Cut Right

Law360 (March 30, 2020, 9:10 PM EDT) -- The Federal Energy Regulatory Commission has told the D.C. Circuit that it properly cut incentives, aimed at boosting transmission-only companies, provided to units of ITC Holdings Inc. after a 2016 merger allegedly reduced their independence.

The agency said on Friday that its determination that a merger with utility Fortis Inc., which owns electricity generation facilities, made the ITC Holdings entities less independent, and that they therefore deserved lower incentives as transmission-only companies, was based on the underlying facts. The commission rejected allegations that it used a new test to reach its conclusion.

Following the merger, the three entities at issue had...

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