[BETA] Fortnightly

(January 2007) PNGC Power promoted Tom Haymaker to vice president of power supply. Calpine Corp. announced that Larry B. Leverett joined the company as senior vice president, gas trading. ITC Holdings Corp. announced that William J. Museler has been appointed to its board of directors. Sierra Pacific Resources announced that William D. Rogers has been named to the new position of vice president, finance and risk, and Corporate Treasurer. And others...

Something seems deeply disturbing about the utility industry these days. An almost palpable tension rises whenever the utility CEO is asked how he will build enough power plants to meet the skyrocketing demand for power. Some consultants predict that sometime after this decade the time will come when utilities won’t be able to build enough to meet demand, no matter what they try.

(December 2006) Michael Heyeck was named senior vice president of transmission at American Electric Power Co. Duke Energy announced that Jim Stanley would lead its Indiana utility as president. ITC Transmission, a subsidiary of ITC Holdings, hired Frances (Francie) Brown as director, state governmental affairs. Edward (Ted) J. Mooney and Jesse H. Ruiz were appointed to ComEd’s board of directors. And others.

Two cases involving traditional pollutants and climate change are before the court. In addition to questions about the EPA’s regulatory power, both cases raise critical threshold “jurisdictional” questions about the courts’ role in addressing these issues.

Exclusive interviews with CEOs at five regional independent transmission system operators: Phil Harris, at PJM; Gordon van Welie, at ISO New England; Yakout Monsour, at the California ISO; Graham Edwards, at MISO; and Mark Lynch, at the New York ISO.

How will utilities in the next 10 years manage a multi-billion-dollar infrastructure buildout, higher interest rates/cost of capital, diminishing free cash flows, state renewable mandates, and political pressures to keep rates or power prices low, all while complying with carbon emissions programs that emphasize higher-cost fuels? Meeting the challenges may depend on whether a national carbon program that regulates carbon emissions is established.

The rise in shareholder activism could spur some companies with lagging share performance to initiate or accelerate strategic initiatives, including separation of functionally disparate businesses, MLP formation, selling non-core operations, or selling the whole kit and caboodle. That said, there is value creation, and then there is looting.

(September 2006) Pacific Gas and Electric Co. elected Bill Harper as vice president of strategic sourcing and operations support. Piedmont Natural Gas hired Judy Z. Mayo as deputy general counsel at Piedmont. ITC Holdings Corp. appointed Bennett Stewart to its board of directors. Cleco Corp. named Jeffrey W. Hall senior vice president, governmental affairs, and chief diversity officer. And others.

This month’s cover story focuses on how utilities intend to find the talent they’ll need over the next few years to replace all those retiring baby boomers. And part of that puzzle naturally involves executive pay: how to attract the best and brightest without going overboard on rewards for performance.

(June 2006) Mirant Corp. appointed Jose (Joey) P. Leviste Jr. as chairman, president, and CEO of Mirant Philippines, and as a senior vice president of Mirant Corp. Ian C. Connor joined Goldman Sachs in 2006 as a managing director in its Power & Energy Group. Unitil Corp. shareholders elected Robert G. Schoenberger, Charles H. Tenney III, and Dr. Sarah P. Voll to its board of directors. Piedmont Natural Gas announced several changes in the company’s executive management team.