MISO changes official name

What’s in a name? Apparently, rather a lot.

In preparation for the pending incorporation of the Entergy (NYSE:ETR) operating companies into its operation, the Midwest Independent Transmission System Operator (MISO) officially changed its name to the Midcontinent Independent System Operator, effective April 26 to reflect its expanding footprint.

“As our operations provide even more potential savings to consumers in our Midwest and Southern Regions, a change in our legal name just makes sense,” John Bear, MISO’s president and CEO, said in a statement provided to TransmissionHub May 7. “’Midcontinent’ better represents all of our stakeholders, our changing geography, our employees’ focus.”

MISO, which is incorporated as a non-profit 501(c)(4) corporation in the state of Delaware, amended its certificate of incorporation on file with the State of Delaware to reflect the change from “Midwest” to “Midcontinent” and to delete the word “transmission” in its legal name, according to the grid operators’ website. No other changes to the MISO business resulted from this change, it said.

The organization’s web site refers to an “expanding footprint,” a reference to the pending integration of Entergy’s operating companies into MISO and the associated spin-off of Entergy’s transmission assets to ITC Holdings (NYSE:ITC), which is a MISO member. The cutover to MISO is targeted to take place on Dec. 18.

Federal regulatory approval is still needed from FERC, and antitrust approval from the U.S. Department of Justice or the Federal Trade Commission. The IRS must approve the tax-free nature of the reverse Morris trust transaction that will move Entergy’s transmission assets to ITC. 

The transaction is targeted to close by the end of the year, subject to receipt of all required regulatory approvals and satisfaction of other closing conditions.