One of the questions that came out of last night's conference call is "Who are the investors" in these transmission line projects. Apparently the investors in the New York line include 20+ "secret" investors, and the utility will not release their names. In our case, TrAILCo is wholly-owned subsidiary of Allegheny Energy, but Allegheny formed TrAILCo is an effort to encourage investors at a more favorable interest rate than Allegheny could get on their own. So who are the investors?
As Deep Throat said during Watergate, "Follow the money!" Do these investors have an agenda independent of Allegheny? (Of course they do.) Do they have any assurances if the line does not get built, or if it is underutilized, or if Allegheny goes bankrupt, that protects their investment and will ratepayers have to cough up more money?
Allegheny will likely argue that this is confidential business information, but I think we need to see where TrAILCo is getting their money.
JBK