People
New Opportunities:
The California Public Utilities Commission (PUC) named Steve Larson executive director. Larson most recently was executive director of the California Energy Commission and chief deputy director of the department of finance.
PG&E Corp. elected Leslie H. Everett senior vice president and assistant to the chairman. PG&E Corp. also elected Russell M. Jackson senior vice president, human resources.
People
New Opportunities:
Stephan T. Haynes, who has been American Electric Power's vice president of risk oversight since January 2002, was named vice president of corporate finance for the company.
Kay G. Priestly was named Entergy Corp.'s vice president of financial issues management. Priestly earlier was managing partner at Arthur Andersen.
How joining the EU may transform the Central and Eastern European electricity sectors
It is not coincidental that energy assets are for sale across Central and Eastern Europe the same year that 10 new countries join the European Union (EU). New member states had to demonstrate significant sector reforms to qualify for EU membership. These sectors have historically had miserable economic results due to artificially maintained low prices, poor and often corrupt management, and significant political interference.
Building a system to evaluate the leadership's ability to meet corporate goals.
Nominating committees and CEOs need to ask hard, fundamental questions about their own boards and their board's ability to formulate and govern effective and ethical business strategies. One way to know where you stand is to draw a basic matrix chart. Along the top, list the skill sets your board will require to move the company toward its future goals. Down the left-hand column, list each director. Then begin to check the skills that each current director brings to the board.
Interviews
For Public Utilities Fortnightly's 75th Anniversary CEO issue, the magazine looked to the horizon and asked these new captains about the planned course for their companies, and for an entire industry.
People
New Positions:
Southern Co. appointed Chris Hobson senior vice president of environmental affairs, reporting to Charles Goodman, the company's newly named senior vice president of environmental policy and research. Hobson currently serves as vice president of environmental affairs for Southern Co. subsidiary Georgia Power.
People
New Positions:
Rep. Joe Barton, R-Texas, stepped into the role of chairman of the House Energy and Commerce Committee, succeeding Rep. Billy Tauzin, R-La., who is leaving Congress.
Duke Energy named David Hauser as its permanent CFO. He had been acting CFO since November. He succeeds Robert Brace, who resigned.
Business & Money
Can economies of scale make the industry more stable?
The recent Northeast Blackout framed for regulators and public policy-makers one of the central issues confronting the utility industry: infrastructure reliability and the significant capital investment requirements necessary for improvement. While estimates vary widely, some industry experts currently project that the investment necessary to revitalize and secure the transmission infrastructure in the United States may run in excess of $100 billion.
People
New Opportunities:
Duke Energy made several changes to its executive leadership. Dick Blackburn said he would retire as the company's executive vice president, general counsel, and chief administrative officer. He had been with the company since 1997. Duke also named Bill Easter chairman, president, and CEO of Duke Energy Field Services, replacing Jim Mogg, who moves up to group vice president and chief development officer for Duke Energy.
Financial players bring credit depth to energy markets, but will they play by the rules?
The center of gravity for energy marketing and trading activity is moving from Houston to Wall Street. Some major financial institutions already have plunged into the market, while others are testing the waters, gearing up to participate in a bigger way. Already their impact is being felt, and it is most definitely welcome.