On April 13, 2011, American Transmission Co. (“ATC”) and Duke Energy (“Duke”) announced the joint venture of Duke-American Transmission Co. (“DATC”) to build and operate new transmission projects in North America. DATC will own and operate all assets built by the joint venture, and equity ownership will be split equally by Duke and ATC.
Since DATC will function as a transmission utility, it will be subject to the Federal Energy Regulatory Commission authority. Both Duke and ATC will still be able to develop their own transmission projects outside of the joint venture.
The ATC press release for the join venture is available here.