ITC Files Permit Application with U.S. Department of Energy for the ITC Lake Erie Connector Project

ITC Lake Erie Connector LLC, a wholly-owned subsidiary of ITC Holdings Corp., the largest independent electricity transmission company in the United States, today announced it has filed a major permit application with the U.S. Department of Energy (DOE) for the ITC Lake Erie Connector merchant transmission line. The purpose of the DOE filing is to obtain the Presidential Permit necessary for international border-crossing projects. The ITC Lake Erie Connector is a proposed 1000 MW, bi-directional, High-Voltage Direct Current (HVDC) merchant transmission line that will provide the first direct link between the markets of the Ontario Independent Electricity System Operator (IESO) and PJM Interconnection, LLC (PJM). The ITC Lake Erie Connector will enable transmission customers to more efficiently access energy, capacity, and renewable energy credit opportunities in both markets. "This project will create a new energy transmission interconnection between the PJM and IESO markets, helping improve the security, reliability and capacity of these energy grids," said Terry Harvill, Ph.D., vice president of International and Merchant Development, ITC Holdings Corp. "The Lake Erie Connector offers compelling market opportunities by providing a more direct, efficient and controllable path for energy and capacity to flow between the two systems, and it can facilitate the export of clean energy from Ontario to PJM to address potential environmental regulations and Renewable Portfolio Standard requirements in the U.S." ITC's application to the DOE will be available on the project website at www.itclakeerieconnector.com. This application follows a May 22 filing with Canada's National Energy Board. ITC continues to perform detailed engineering work and marine and land studies in support of the project, and the company will submit additional environmental and other permit applications to the relevant federal, state and municipal agencies later this year. The company has held or participated in public meetings in Erie County, Pennsylvania and consultation events in Nanticoke, Ontario to discuss the project and gather community input. Additional information regarding the project is available at www.itclakeerieconnector.com.