Wednesday, December 19, 2018

Company News

FERC OKs GridLiance Rate Settlement

gridliance, tri-county electric cooperativeFERC last week approved an uncontested settlement setting GridLiance West’s base return on equity at 9.6%, with a total ROE of 10.6% including 50-basis-point adders each for the company’s transco status and RTO participation.

The commission had ordered hearing and settlement procedures after GridLiance filed a request for incentives for its investment in an upgrade to the 230-kV line between the Bob Switching Station and Mead Substation in California.

The cities of Anaheim, Azusa, Banning, Colton, Pasadena and Riverside, Calif., had protested the transco adder, which GridLiance requested just four months after reaching a settlement on a 10.1% ROE. The settlement allows the company to recover the transco adder effective July 25, 2018, but prevents any additional changes to the ROE before Oct. 25, 2019.

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Entergy Names New CEO for New Orleans Utility


Entergy last week announced it had named David Ellis as president and CEO of Entergy New Orleans, effective Monday.

Ellis was previously CEO of Global Power Technologies, a New Jersey-based company that develops energy management products and provides consulting services to utilities. He has a 27-year career in the energy industry, including at Comverge International, Clean Power Markets and Enerwise Global Technologies.

“I believe Entergy New Orleans can and should be the model for the electric utility of the future,” Ellis said in a statement. “I found the tremendous potential and willingness to create a smarter energy future for New Orleans compelling, and I look forward to partnering with the City Council and the community to make that potential a reality.”

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Prochazka to Remain CenterPoint CEO Post-merger


CenterPoint Energy CEO Scott Prochazka will remain in his position once the company’s merger with Vectren is complete, CenterPoint announced last week.

The company also announced that CFO Bill Rogers will retire by the end of the first quarter next year, when the merger is expected to be completed.

Rogers “has been a valued member of the executive leadership team and played an instrumental role in driving our strategy to advance functional excellence within the finance organization and grow our businesses as we strive to better serve our customers’ needs,” Prochazka said in a statement.

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Reuters: At Least 18 GE Turbines Shut down for Repairs

Utilities around the world are shutting down at least 18 General Electric gas turbines for repairs and maintenance, according to plant operators and other industry experts with direct knowledge of the company who spoke to Reuters last week.

Power plant operators in Japan, Taiwan, France and the U.S. have or plan to shut down at least 18 of the 55 new HA-model turbines that GE has shipped so far.

GE is setting aside millions of dollars to repair the turbines. Invenergy, Exelon and the Tennessee Valley Authority are among the U.S. utilities receiving replacement turbine blades for free under GE warranties.

More: Reuters

IPL, DPL CEO Jackson to Retire


Craig Jackson, president and CEO of both Indianapolis Power & Light and Dayton Power and Light, has said he will resign from his position at the end of the year, parent company AES announced last week.

Jackson, who took over as CEO of the utilities earlier this year, said he wanted to “spend more time with his family and begin exploring new career opportunities,” AES said in a statement. He joined AES when it acquired DPL in 2011 and was promoted to CFO of its US Strategic Business Unit in 2013. He had worked at DPL for 10 years in several different positions before that.

“I am proud of all the accomplishments we’ve made together at AES over the past seven years,” Jackson said. “It’s been an honor to serve the people of Indianapolis and Dayton and the surrounding communities by providing reliable and affordable energy.”

More: AES

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