According to company officials, Entergy Corp had resubmitted a plan to Texas regulators on Monday. The plan was to transfer the company's electric transmission assets to ITC Holdings.
Last month, the proposal which was valued USD1.78 billion was rejected by the Texas Public Utility Commission (PUC). It was then withdrawn by the Entergy Texas and ITC officials, according to a Reuters report.
From then, the regulatory consideration of the transaction had stalled in Arkansas and Louisiana.
The deal was a spin-off and merger of Entergy's 15,400 mile transmission network serving parts of Louisiana, Texas, Mississippi and Arkansas.
Meanwhile, the resubmitted filing included a plan offered by Entergy and ITC Holdings to protect consumers from higher transmission costs. The company had also included in the filing the reduction of rates by USD92.7 million that would cover over five years of transmission network service.
Entergy said in a statement, "The refiling allows the full scope of the companies' rate mitigation plan to be formally considered in the new docket."
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