WASHINGTON, Jan. 7, 2020 — WIRES Executive Director Larry Gasteiger today issued the following statement regarding the organization’s filing asking for reconsideration of the Federal Energy Regulatory Commission’s (FERC) order setting forth a new methodology for determining the rate of return on equity for transmission owners in the Midcontinent ISO that could have broad implications for investment in needed transmission infrastructure:

“It is the responsibility of the WIRES organization and the members we represent to promote investment in the North American electric transmission system, to facilitate cost-effective transmission solutions that address environmental and reliability challenges, and to reduce barriers to transmission development. We encourage the FERC to carefully examine the requests for rehearing in this important case and consider the impacts of its actions on building transmission where it is needed and the signals FERC intends to send to those considering transmission investment.

As FERC itself has acknowledged, there is a need for significant transmission investment to address the evolving energy needs and focus on resilience. To accomplish this, it’s important for transmission owners and operators to earn a reasonable and stable return on equity in order to have efficient and cost-effective access to capital.”