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NextEra CEO’s Appearance Aims to Reassure PUCT Commissioners
NextEra CEO’s Appearance Aims to Reassure PUCT Commissioners
Feb 24, 2017
by Margarita Fournier; Copyright 2016 by Competitive Assets, LLC. All rights reserved
On 2/23/17, NextEra’s Chairman and CEO James L. Robo appeared before the PUCT, during the afternoon session of the four-day hearing on the merits. Before he came, parties discussed whether he’d be sworn in as a witness; in the end, the Commission opted to announce an emergency open meeting instead. The CEO provided many assurances to the still somewhat skeptical Commission on such issues as the independence of Oncor Board, level of debt, employment guarantees, and levels of risk and new investment. He also stressed his ties to Texas, the intention to provide a degree of independence for Oncor, and the excellent reputation of NextEra. His remarks and explanations seemed to have a positive effect on the proceeding. At the end, NextEra agreed to make a Friday morning filing with the PUCT, listing previous and new regulatory commitments. The hearing resumes Friday morning
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