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The Lower Colorado River Authority recently sold more than one-third of the $900 million in bonds it plans to issue over the next five years to finance construction of a statewide network of power transmission lines.
This marks the LCRA's most extensive venture in the business of power transmission.
Right now, the Austin-based LCRA supplies electricity to more than 1 million residents of Central and Southeast Texas. Electricity flows from LCRA's plants to customers through a transmission system covering about 27,000 square miles. That system connects with other members of the 79-utility Electric Reliability Council of Texas Inc., or ERGOT, giving the LCRA a shot at generating revenue from transporting power from one utility to another.
The LCRA …