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Energy companies launch critical transmission equipment sparing company

  • Six energy companies announce the official launch of Grid Assurance, an independent company providing transmission sparing solutions for critical electric transmission equipment.
  • The company is founded by affiliates of American Electric Power (NASDAQ:AEP), Berkshire Hathaway (BRK.A, BRK.B), Duke Energy (DUK), Edison International (EIX), Eversource Energy (ES) and Great Plains Energy (GXP) to enhance grid resiliency and give electric transmission owners faster access to long-lead time critical equipment necessary to recover from catastrophic events that could impact the U.S. electric grid.
  • Michael Deggendorf, senior VP of Kansas City Power & Light, is named Grid Assurance CEO and will oversee the formation and operations of the company.
  • Now read WSJ: Utilities seek to store and sell essential parts for disasters

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