The $850 million investment is expected to provide over $6 billion in economic benefits to Michigan
NOVI, Mich. – Today, Governor Gretchen Whitmer applauded Michigan Electric Transmission Company’s, a wholly-owned subsidiary of ITC Holdings Corp., the announcement of its intent to construct, own and operate two new transmission line projects in Michigan, which are expected to provide Michigan ratepayers with over $6 billion in economic benefits. These projects will be the largest energy transmission infrastructure upgrades in Michigan’s history to improve reliability, lower costs, support thousands of jobs, and assist in the transition to clean energy.
“I am pleased to celebrate ITC’s transformational and historic investment in Michigan,” said Governor Whitmer. “This investment will enhance energy reliability while supporting thousands of jobs and providing a whopping $6 billion in economic benefit to communities across the state. These investments are critical to the state as we transition towards a clean energy and electric vehicle future. Throughout my administration, I have had the privilege of working across the aisle and across the public and private sector to rebuild Michigan’s infrastructure and bring Michigan’s economy into the future. Let’s keep getting it done.”
The new transmission projects are part of the Midcontinent Independent System Operator’s (MISO) Long Range Transmission Planning (LRTP) Tranche 1 Portfolio of projects and are the first new interstate connection to Michigan’s transmission system in nearly 50 years.
“This overall portfolio of new high-voltage transmission lines will provide numerous benefits and deliver value to electric consumers throughout Michigan,” said Simon Whitelocke, President of ITC Michigan. “As the energy landscape continues to change, these lines are critically important to Michigan as the state will greatly benefit from the increased ability to import power to maintain electric reliability.”
Last month, ITC filed a formal notice of intent with the Michigan Public Service Commission (MPSC) in accordance with The Transmission Infrastructure Planning Act (TIPA), the bipartisan signed by the Governor in 2021 that ensures utilities with a proven track record in the state can construct these systems. This will be the first new transmission project since the legislation took effect.
Next, ITC will evaluate and propose specific route options and begin to move the projects through state regulatory processes.
Creating Clean Energy Jobs Governor Whitmer is committed to growing Michigan’s economy and creating clean energy jobs. In 2022, Michigan was ranked as the #1 state in the country for energy-sector job growth. In 2021, she signed SB 103, a bipartisan bill to simplify the planning and development of electric transmission lines. Over the past three and half years, the governor has sent letters to MISO urging them to improve reliability including through transparent, expedited transmission planning and additional efforts.
Early in her administration, she made administrative changes to help build the largest solar array East of the Mississippi River. The governor also took steps to ensure that all State of Michigan facilities will be powered by 100% renewable energy by 2025 and worked to responsibly deploy solar and electric vehicle charging stations on state-owned property and land. The governor has signed four bipartisan budgets since taking office, investing tens of millions of dollars in clean energy improvements and upgrades for state facilities, families, local governments, houses of worship, and small businesses. Her budgets have also consistently invested in Michigan Saves, the nation’s first nonprofit green bank supporting small businesses and working families with financing energy improvements.
In April, Governor Whitmer unveiled the MI Healthy Climate Plan, a roadmap to grow Michigan’s economy, lower costs for working families and small businesses, create clean energy jobs, and achieve economy-wide carbon neutrality by 2050 with interim goals in 2025 and 2030.
About ITC Michigan ITC Holdings Corp., the nation’s largest independent electricity transmission company based in Novi, Michigan, owns and operates two subsidiaries in the state: ITCTransmission and METC (collectively, ITC Michigan). The two systems comprise approximately 8,700 circuit miles of transmission line serving most of Michigan’s Lower Peninsula. For further information, visit www.itc-holdings.com. ITC is a subsidiary of Fortis Inc., a leader in the North American regulated electric and gas utility industry. For further information about ITC, visit www.fortisinc.com.
###
