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Defending Return on Equity for Transmission Investment

Representing the MISO Transmission Owners, Wright & Talisman is currently defending against two complaints brought by various groups seeking to reduce substantially the return on equity for transmission investment. Customer groups, state regulatory commissions, state consumer advocates, retail customer groups and even the Federal Energy Regulatory Commission’s (FERC) internal trial staff have lined up against the MISO Transmission Owners seeking massive reductions to their authorized equity returns, which threatens the Transmission Owners’ ongoing efforts to develop and enhance the MISO transmission system.

Our representation involves working with expert and company witnesses on testimony and discovery, advising the clients on litigation risks and strategy, defending the clients in two FERC hearings, and representing the clients as petitioners in appealing to the D.C. Circuit the FERC orders in the two hearing proceedings and as intervenors defending certain FERC actions in its orders. We continue to aggressively represent our client’s interests in these proceedings and in anticipated future  remands to FERC. Our client’s goal is to maintain an adequate base return on equity to attract the investment capital necessary to continue expanding and improving the MISO regional transmission grid. This grid is a critically important component of the national transmission system that spans the midsection of the United States from Canada to the Gulf of Mexico and is at the center of a region of vast renewable energy development potential.