Vermont Transco LLC plans to become the sole owner of the 345-kV Highgate Transmission Facility by acquiring the remaining interest it does not already own.
The Vermont Electric Power Co. Inc. subsidiary will acquire Burlington Electric Department's 7.70% ownership interest and Stowe Electric Department's 5.27% stake in the facility for an aggregate price of about $6.3 million.
Built in the mid-1980s, the Highgate Transmission Facility includes the U.S. portion of an AC transmission line, built to operate at 345 kV and currently operated at 120 kV. The line runs from a site near Bedford Substation in Quebec, Canada, to a substation in Highgate, Vt., crossing the international boundary near Saint Armand, Quebec, and Franklin, Vt.
The applicants are asking the Federal Energy Regulatory Commission to approve the acquisition by Nov. 30. (FERC docket EC18-137)