RE:Possible cause of FTS stock decrease on FridayS1973: Thank you for your interesting find. There are a couple of reasons why this can't be the probable cause for the decline in FTS share price. First the news release was timed at 8:01 pm on Friday. Second this wouldn't be the first time a rate increase was declined. Company accountants usually roll with it and figure out ways to pad the next rate review application. There are a myriad micro-font clauses in those contracts. In my experience they usually have sharper pencils and eyes than those of the FERC team. Third the impact this one decision would have on the bottom line of a $23billion company is not clear although I would admit that ITC makes a major contribution to earnings. I remember that there was some reference to the pending decision in the c.c. but can't recall a specific $$ amount.
However, there is this 800 lb gorilla in the room. It is called ERCOT or the Electricity RELIABILITY Council of Texas which has proven to be a cruel joke. It is pulling down most power utilities and I fear the pain next week is going to get worse. If I weren't already overweight in FTS I would be buying.
Cheers