Mike Morris,
CEO,
American Electric
Power
 
Denver, CO, U.S.A. --- (METERING.COM) --- July 6, 2007 - “Stay grounded in our primary purpose in business, providing reliable, affordable electric power to our customers,” said Jim Rogers of Duke Energy.

“We really need to stay dedicated to what we do,” said Mike Morris of American Electric Power.
 
“Keep the lights on, run your systems safely, make as much money as you can, and pay attention to diversity and to your environment,” said John Rowe of Exelon Corporation.

These were among the bits of advice shared in the closing panel of the EEI 2007 Convention, with an exploration of “The Sage Counsel of Experience.”

The three CEOs, guided by moderator and incoming EEI Chair Jeff Sterba of PNM Resources, shared their thoughts on the major changes in the industry over the last two decades, the key challenges facing the industry today and their advice to other top executives trying to guide companies through a daunting future.

“We're almost back to the conditions of 1984,” said Rowe. “It feels suspiciously like we are at the onset of a new period in which our capital expenditures and rising costs are going to place great stresses on our companies.”

Utilities, though, have great resources to help them through these difficulties, Rowe added. “Electric companies have a great deal of resilience,” he said. “It’s almost stunning to me how my companies have worked their way through changes of these magnitudes, and made money while they did so.”

Morris urged industry executives not to neglect relationships with regulators. “The regulator is your friend, even though it doesn’t feel like it,” he said. “Be sure you see them even when you don't need to see them.”

Rogers took note of the change in top management in the industry over the years, commenting about the Tuesday panel: “When I joined the industry in 1988, it would have been three engineers sitting here, the three most senior engineers in our companies. Sitting here now are three lawyers.”

Looking to the future, Rogers added, “We have problems that are not unique to any state, and we need to think on a broader scale.”

Denver, CO, U.S.A. --- (METERING.COM) --- July 6, 2007
    
“Stay grounded in our primary purpose in business, providing reliable, affordable electric power to our customers,” said Jim Rogers of Duke Energy.

“We really need to stay dedicated to what we do,” said Mike Morris of American Electric Power.
 
“Keep the lights on, run your systems safely, make as much money as you can, and pay attention to diversity and to your environment,” said John Rowe of Exelon Corporation.

These were among the bits of advice shared in the closing panel of the EEI 2007 Convention, with an exploration of “The Sage Counsel of Experience.”

The three CEOs, guided by moderator and incoming EEI Chair Jeff Sterba of PNM Resources, shared their thoughts on the major changes in the industry over the last two decades, the key challenges facing the industry today and their advice to other top executives trying to guide companies through a daunting future.

“We're almost back to the conditions of 1984,” said Rowe. “It feels suspiciously like we are at the onset of a new period in which our capital expenditures and rising costs are going to place great stresses on our companies.”

Utilities, though, have great resources to help them through these difficulties, Rowe added. “Electric companies have a great deal of resilience,” he said. “It’s almost stunning to me how my companies have worked their way through changes of these magnitudes, and made money while they did so.”

Morris urged industry executives not to neglect relationships with regulators. “The regulator is your friend, even though it doesn’t feel like it,” he said. “Be sure you see them even when you don't need to see them.”

Rogers took note of the change in top management in the industry over the years, commenting about the Tuesday panel: “When I joined the industry in 1988, it would have been three engineers sitting here, the three most senior engineers in our companies. Sitting here now are three lawyers.”

Looking to the future, Rogers added, “We have problems that are not unique to any state, and we need to think on a broader scale.”