RE:FTS vs ALAComparing ALA to FTS is comparing apples and oranges. FTS's ace in the hole is that over 90% of their revenues come from transmission of electricty and not generation. The transmission lines are to electricity what pipelines are to oil and gas.
Building new transmission lines and corridors are not without their own environmental challenges so the barriers to new entrants is high. They deserve their premium as the amount of electricity they transmit continues to go up. I suspect that with low incremental capital they can increase the capacity of their distribution networks.