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The New CEO's

Michael G. Morris
Fortnightly Magazine - June 2004

to supplement that organic growth with some growth through M&A or some transactions-induced growth.

What is your position on standard market design, RTOs, and regulated and unregulated markets?

In general, I think that the grid is going to ultimately open up in most situations. That's just a market reality. The real question is how it goes opening up and who owns the assets. That's really a state-by-state issue. Some states are more concerned with actually making sure the assets are [managed] by the utility, as opposed to an RTO, and some are more comfortable with the idea of an RTO or some other kind of independent system operator. The real key is that ultimately the grids will open up and power will be wielded around the country reasonably freely.

What is the future of the industry?

If I could just wave a magic wand and make it happen, it would be an integrated industry where you could supply power and gas and other forms of electricity pretty much freely without a lot of prohibitions to how you did business within the various aspects of the industry.

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Michael G. Morris , CEO, American Electric Power (Ticker:AEP)
Robert B. McGehee , CEO, Progress Energy (Ticker: PGN)
Michael J. Chesser , CEO, Great Plains Energy (Ticker: GXP)
Gary L. Rainwater , CEO, Ameren (Ticker: AEE)
Dennis R. Wraase , CEO, PEPCO (Ticker: POM)
Paul M. Anderson , CEO, Duke Energy (Ticker: DUK)

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