MACRUC’s incoming President Willie Phillips announced his theme for the upcoming year.

As uncertainty about the COVID-19 pandemic persists, so does the volatility in the U.S. capital markets. The magnitude of the financial implications was explored for MACRUC utilities and Mid-Atlantic customers. A Wall Street panel of experts gave their perspectives. Moderated by New York Public Service Commission Commissioner Diane Burman, the panel consisted of Lavanya Balakrishnan, executive director, Global Power & Utilities Group, Morgan Stanley, Daniel Cregg, Chief Financial Officer, Public Service Enterprise Group (PSEG), Steve Fleishman, managing director, Wolfe Research, Michael Haggarty, associate managing director, Power/Utilities - Americas, Moody's Investors Service, and Leslie Rich, managing director, U.S. Equity Research, JP Morgan Asset Management.

FERC's Minimum offer Price Rule, or MOPR ruling, directed PJM Interconnection to dramatically expand its MOPR to nearly all state-subsidized capacity resources. The December 19, 2019 ruling has been legally challenged. This session examined how states' policy goals and well-functioning wholesale markets can co-exist in harmony to deliver the economic and sustainable environmental benefits states are seeking. Moderated by Judy Jagdmann of the Virginia State Corporation Commission, with Joseph Fiordaliso, President of the New Jersey Board of Public Utilities, Jason Stanek, Chair of the Maryland Public Service Commission, Asim Haque, Vice President, State Policy and Member Services, PJM Interconnection, and Todd Snitchler, CEO, EPSA.

This session examined the separate functions and processes of regulators in the bankruptcy courts. and was moderated by West Virginia PSC Chair Charlotte Lane. Also taking part were Virginia SCC Chair Mark Christie, Kentucky PSC Commissioner Robert Cicero, former Chief Judge of the U.S. Bankruptcy Court for the Southern District of West Virginia, Ronald G. Pearson, and Chair of the Board of PG&E, former FERC and Pennsylvania PUC Commissioner, NARUC President Emeritus, Nora Mead Brownell.

Senator Manchin discussed the challenging work of addressing our nation's energy needs with a focus on the role State Commissioners play, moderated by Gladys Brown Dutrieuille and John Rhodes.

Panelists wrestled with how to ensure a balance of customer assistance and company stability in order to avoid disaster. Moderated by incoming MACRUC President and D.C. PSC Chair Willie Phillips, panelists included Tony Clark, Mignon Clyburn, Philip Moeller, Robert Powelson, and Jackie Roberts.

“When you have fair market rules, and remove any artificial barriers to entry, renewables and new technologies like battery storage, for example, will flourish.”