A panel of administrative judges on Tuesday urged Texas utility regulators to reject Entergy Corp's plan to divest its electric transmission assets to ITC Holdings Corp. The recommendation, which is subject to review by the Texas Public Utility Commission, could damage Entergy's effort to complete the transfer of grid operations in four states in a deal valued at $1.78 billion.The transaction has received approval from federal regulators, but regulators in several states have questioned whether the plan would increase transmission rates for Entergy customers without providing sufficient benefits.
ITC Holdings Corp. (ITC Holdings) is engaged in the electric transmission operations of its Regulated Operating Subsidiaries. Shares of ITC traded higher by 0.58% or $0.53/share to $92.27. In the past year, the shares have traded as low as $69.74 and as high as $93.69. On average, 261175 shares of ITC exchange hands on a given day and today's volume is recorded at 155375.
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