Entergy Corp. to spin off transmission business
Entergy Corp. announced Monday that it plans to spin off its electric transmission business and merge it with ITC Holdings Corp., a Michigan-based transmission company, in a $1.78 billion deal that the New Orleans power provider says will improve the electric grid's efficiency while avoiding substantial capital costs.
Entergy Corp. plans to remain a member of the US Chamber of Commerce even as some other utilities pull out because of the group's opposition of federal climate change legislation.