PJM and MISO ran from the altar once before. Now there’s talk of a shotgun wedding.
Exelon Generation named Ron DeGregorio president of Exelon Power. Most recently he was chief integration officer working on the Exelon-Constellation merger. Former NSTAR president, chairman and CEO Thomas J. May was elected president and CEO of Northeast Utilities (NU) following the completion of the merger of the two companies. He succeeds Charles W. Shivery, who retired from his position and assumed a new role as the non-executive chairman of the board of NU.
Doing the right thing can drive utility stock performance.
Utilities get little credit for their efforts to strengthen the sustainability of their businesses. But these efforts have paid dividends in stock performance, capital costs, regulatory relationships, and brand value. Capturing the greatest value for shareholders will require utilities to become better understood as socially responsible enterprises.
Geomagnetic storms and the limits of human experience.
On April 30, FERC held a technical conference to review scientific claims and policy arguments about geomagnetic disturbances, known as GMD—how some say that a once-in-a-century solar storm could induce a power surge on the interstate grid so destructive as to cook and fry as many 300 extra-high-voltage transformers, plunging much of the nation into a blackout lasting months or even years. Some researchers even harbor fears that GMDs could end life as we know it.
Navigating the power and gas markets.
The power and gas markets look very different today from what we were anticipating three to four years ago. Gas has gone from seeming shortage to seeming abundance with recent spot prices falling to well under $3/mcf. Power prices and volatility are down significantly. Demand is soft and excess capacity exists in most of the country. While it might be easy to attribute the conditions in the power markets largely to the recession, the reality is that the fundamentals of the market are materially changing—creating opportunities while revealing new pitfalls.
Lewis “Lew” Hay III intends to retire from NextEra Energy at the end of 2013 as part of a planned leadership succession process. Hay will serve as executive chairman from July 1, 2012, until his retirement, and James L. Robo, currently president and CEO of NextEra Energy, will succeed Hay as CEO, effective July 1.
(May 2012) Entergy Louisiana starts construction on gas-fired power project; Virginia Commonwealth University and Dominion partner on a test site for efficient energy technologies; Burlington Electric Department selects Siemens for meter data management platform; IKEA commissions four Blink electric vehicle charging stations; Edison Mission Energy, TIAA-CREF and Cook Inlet Region Inc. form partnership, and others.
Anne R. Pramaggiore became president and CEO of ComEd, following the retirement of Frank M. Clark, chairman and CEO since 2005. Pramaggiore joined ComEd in 1998 and most recently held the position of president and COO. In addition, ComEd named Tracie Morris v.p. of human resources. Morris previously served as v.p. of human resources for DeVry Inc.
Indian Point and the battle for the nation’s energy future.
State lawmakers are trying to block relicensing of the Indian Point nuclear power plant near New York City, but the owner hopes to keep the plant generating low-cost electricity. The battle over Indian Point raises new legal issues—and represents a microcosm of the struggle for America’s nuclear future.
(March 2012) DTE Energy awards contract to URS; Exelon and Constellation reach an agreement with Electricite de France; Dominion and Lockheed Martin enter a joint marketing and development alliance; plus deals involving Nissan North America, CenterPoint Energy Field Services, Honeywell, Silver Spring Networks, and others.