No neutral is necessary, because the transmission line's line currents are roughly balanced and, so, the phasor sum of those currents will be relatively insignificant, rendering the need for a neutral conductor to be an unnecessary expense.
In practise, for most transmission towers, each of the three 'lines' comprises not just a single conductor but, rather, a number of conductors which are bundled together in order to reduce electric stress surrounding the line. The number of conductors per bundle increases with transmission voltages. In the UK, for example, 400-kV transmission lines normally comprise bundles of four conductors, whereas 275-kV transmission lines normally comprise bundles of two, and 132-kV lines just one.
Running along the top of transmission towers is an earthed conductor, called a 'guard conductor', whose function is to protect the lines from lightning strikes during electrical storms.
Many transmission towers also have two, separate, three-phase circuits -one circuit on each side of the tower.
But, definitely, no neutral!
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Much higher.
Transmission loss reduce by using 1) higher diameter conductor (R = q l / a) or specially maded low loss conductors 2) using energy efficient equipment such as low loss transformer 3) twisted conductors instead of solid 4) proper monitoring and control of transmission eqipment 5) use of high temperature super conductors ....etc
Anything made of a metal or metal alloy will be a conductor. The most common are copper (indoor wiring) and aluminum (power lines and transmission cables).
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Um. One is hung above your head on telephone poles and the other is ran underground in conduit? Unless you meant something else? Also burying cable costs ~10 times as much for transmission lines as overhead. It also usually has a lower power carrying capability, since it cannot dissipate heat as readily as an overhead conductor.