EEI Financial Conference
Phil Moeller is EVP of Business Operations Group and Regulatory Affairs at EEI.
Excerpted from EEI's 54th annual Financial Conference:
Throughout the pandemic, electric utilities have executed business contingency plans to enable the shift to the telework economy, while sustaining a lifeline service to all customers. Panelists discussed customer impacts of COVID-19, results of the industry's cutoff moratoria, and efforts to sustain service in a challenging operating environment, as well as regulatory cost recovery mechanisms.
EEI, EVP of Business Operations Group and Regulatory Affairs, Phil Moeller: We had a situation where we had planned to do a work from home experiment, but all of a sudden someone in the building got COVID, not at EEI. We've been working at home ever since. It's certainly taken us by surprise. I'm happy that even though mutual assistance isn't the topic here, the industry has a terrific record this year, in addition to a pandemic, because some major storms have affected our customers.
J.P. Morgan, Asset Management, Managing Director, Leslie Rich: The initial concern was the extreme demand destruction. In March and April, we saw sharp declines in industrial and commercial demand as COVID hit.