Investor-owned utilities paid their CEOs over $1 billion between 2017 and 2019, according to recently filed corporate data reviewed by the Energy and Policy Institute. The companies offered their CEOs nearly $450 million in compensation in 2019, a raise of nearly 26% over the previous year. The average compensation for the CEOs was approximately $11 million in 2019. Southern … [Read more...] about Utility CEOs received over $1 billion in executive compensation from 2017 – 2019
Corporate News
New York expedites energy efficiency vendor payments to bolster industry rattled by COVID-19
Dive Brief: The New York Department of Public Service (DPS) and the New York State Energy Research and Development Authority (NYSERDA) on April 23 announced additional flexibility for energy efficiency administrators and workers hit hard by the COVID-19 pandemic. Program modifications include expedited payments to vendors and contractors for all completed work, and … [Read more...] about New York expedites energy efficiency vendor payments to bolster industry rattled by COVID-19
Dominion tries again on rejected AMI plan amid Virginia's new clean energy law
Dive Brief: Dominion Energy filed a petition with the Virginia State Corporation Commission (SCC) on April 14 for the approval of its distribution grid projects that were rejected in March. Dominion seeks a path forward to roll out its $752 million smart meter plan, which was pared back from an initial $1.49 billion proposal in 2018. State regulators last month wrote Dominion … [Read more...] about Dominion tries again on rejected AMI plan amid Virginia's new clean energy law
As DTE and Consumers Energy Appear to Ignore Industry Suspension Pledge, Michigan PSC Opens Coronavirus Docket and Orders Utilities To Report Current Disconnect Data
The Michigan Public Service Commission opened a docket last week to review regulated utilities’ responses to the coronavirus pandemic. The opening of the docket, along with an order requiring utilities to report the number of currently disconnected customers, comes five weeks after Governor Whitmer declared a state of emergency across the state. In that timespan, … [Read more...] about As DTE and Consumers Energy Appear to Ignore Industry Suspension Pledge, Michigan PSC Opens Coronavirus Docket and Orders Utilities To Report Current Disconnect Data
Federal Energy Regulatory Commission Approves New PJM FTR Auction Rules
The Federal Energy Regulatory Commission (FERC) has accepted PJM Interconnection’s request to make changes to its FTR auction rules that FERC said will “result in reduced financial risk to PJM and its members.” FERC ruled that the changes were just and reasonable and became effective April 15. Endorsed by an overwhelming majority of stakeholders … [Read more...] about Federal Energy Regulatory Commission Approves New PJM FTR Auction Rules