Entergy Corp. plans to resubmit its application to transfer the company’s electric transmission assets to ITC Holdings to Texas energy regulators, according to reports.
The proposal, valued at some $1.78 billion, was withdrawn from the Texas Public Utility Commission — just one of the state regulatory agencies that must approve the deal.
Officials with the Entergy, in statements, said they would move soon to file the application again and request expedited consideration.
The Entergy/ITC Holdings deal is a proposed spin-off and merger of Entergy’s transmission grid that serves Louisiana, Mississippi, Arkansas and Texas. Federal regulators and ITC shareholders have approved the transaction. The merger won the approval of the Federal Energy Regulatory Commission (FERC) in June 2013.