FOR IMMEDIATE RELEASE
Nov 21, 2003
TRANSLink Utilities Suspend Development Activities
MINNEAPOLIS - TRANSLink Management Development Co. today announced that upon the direction of the participant utilities, formation of the proposed TRANSLink Transmission Co. has been suspended.
"TRANSLink utility participants asked the board and management last week to put all development and operational activities on hold due to continued regulatory and market uncertainty," said Audrey Zibelman, president and CEO. "Since the transmission operating agreements with the utility owners were the foundation of our business proposal, the board decided to proceed with dissolution of the interim management development company.
"While I appreciate the needs of the TRANSLink participants to re-evaluate their business interests, I have decided to resign my position in order to pursue other industry opportunities," Zibelman said.
In a joint statement, TRANSLink utility participants thanked the board and management for their efforts and said, "We continue to believe that the development of independent transmission companies will be an important element of the future electric industry.
"We applaud the efforts of Ms. Zibelman and the TRANSLink management team to further the debate over the importance of a regional approach to electric transmission development and operations. While our organizations are pausing in the development of TRANSLink Transmission Co. at this time, we are confident that our formation efforts will positively impact how the region proceeds to address our transmission challenges."
The TRANSLink board also voiced its appreciation for management. Said Board Co-Chair Julian Brix: "The board is convinced that the TRANSLink independent transmission company model has the opportunity to bring considerable value to electric customers. While we are certainly disappointed in the outcome, we appreciate the fact that the participants continue to want to have the opportunity to form an ITC once there is greater regulatory and industry clarity."
Plans had called for TRANSLink to operate and own electric transmission systems in portions of Colorado, Illinois, Iowa, Kansas, Michigan, Minnesota, Nebraska, New Mexico, North Dakota, Oklahoma, South Dakota, Texas and Wisconsin.
TRANSLink participants are Interstate Power and Light Co. of Cedar Rapids, Iowa, a subsidiary of Alliant Energy, Madison, Wis.; Central Iowa Power Cooperative, Cedar Rapids, Iowa; Corn Belt Power Cooperative, Humboldt, Iowa; Dairyland Power Cooperative, La Crosse, Wis.; Great River Energy, Elk River, Minn.; MidAmerican Energy Co., Des Moines, Iowa; Muscatine Power and Water, Muscatine, Iowa; Nebraska Public Power District, Columbus, Neb.; Omaha Public Power District, Omaha, Neb.; Rochester Public Utilities, Rochester, Minn.; Southern Minnesota Municipal Power Agency, Rochester, Minn.; Xcel Energy, Minneapolis; and Midwest Municipal Transmission Group, an association of municipal utilities.
