The Path 15 Project is an 84 mile, 500-kilovolt transmission line upgrade in central California built to alleviate existing north-south transmission congestion. It began commercial operation in December of 2004.
In September of 2006, Atlantic Power indirectly acquired Trans-Elect NTD Path 15 (renamed Atlantic Path 15) which owns 72% of the Transmission Service Rights (TSRs) associated with the Path 15 upgrade. Atlantic Path 15 has assigned the TSRs to California's Independent System Operator (CAISO) in exchange for receipt of a regulated rate of return. As such, Atlantic Path 15 receives a stable revenue stream, based on tariff rates regulated and approved by the Federal Energy Regulatory Commission. Atlantic Path 15's ratebase has a depreciable regulatory life of 30 years through 2034. All prudently incurred operating costs, maintenance costs and capital expenditures may be recovered in rates charged. The Western Area Power Administration is responsible for operation and maintenance of the transmission line.