Morgan Says Competitive Power Markets Are Key to Cost Savings and Progress
Washington, D.C. – Curtis A. “Curt” Morgan, president and CEO of Vistra, is the new chair of the Electric Power Supply Association (EPSA) Board of Directors following his election at the Board’s Annual Spring Meeting which took place Tuesday, April 28, 2020. Vistra is a leading U.S. integrated competitive retail electricity provider and power generator. Vistra owns and operates approximately 39,000 megawatts of diverse power generation, including natural gas, nuclear, and solar power plants and battery energy storage facilities.
Morgan will hold the chair position for one year. Thad Hill, president and CEO of Calpine Corporation, will assume the role of EPSA’s vice chair, previously held by Morgan. Mark Sudbey, CEO of Eastern Generation, will continue as secretary-treasurer.
Noting that competitive power markets are the biggest driver of electricity cost savings and improvements in power generator performance and grid reliability, Morgan says one of EPSA’s top priorities is making sure more consumers and policymakers understand those benefits.
“Ultimately, it’s about choice and control, and in those markets where competition has been fully embraced, consumers win. It’s simple—when companies are competing every day, you see lower electricity costs, improved performance and customer protections, and more innovation,” said Morgan. “It has been several years since formerly regulated electric markets in regions of the U.S. were restructured into competitive markets due to high costs and undue risks placed on captive ratepayers. It is a high priority for EPSA to reinforce with current policymakers and regulators the clearly demonstrated value of competitive electric markets versus the antiquated and failed regulated system of the past.”
Looking to the future, Morgan says competitive electric suppliers should lead efforts to enable even greater market-driven innovation and environmental progress—while maintaining reliability, efficiency and the power of competition to keep costs low. Noting EPSA’s recent engagement with a diverse coalition calling on the Federal Energy Regulatory Commission to examine carbon pricing, Morgan says the organization will continue to work with all stakeholders and policymakers to find competitive solutions for consumers, the grid and the environment.
“Combating climate change through market-based means is another top priority for EPSA, and we have an effort underway to assess various market constructs while addressing climate change,” Morgan continued. “We look forward to engaging with a broad array of stakeholders to reach agreement on a durable, competitive market structure that embraces all technologies and leads to a lower carbon future.”
“Curt Morgan knows the competitive power sector,” said Todd Snitchler, EPSA’s president and CEO. “His experience combined with a forward-looking vision will serve EPSA well at this pivotal moment. I look forward to working with Curt as we build an enduring regulatory framework for sustainable environmental progress.”
Snitchler added, “I also thank our previous chair, Paul Segal, president and CEO of LS Power, who has steered EPSA through an eventful and productive time and been a tremendous help in my first year at the organization.”
Morgan has been a long-standing member of EPSA’s Board of Directors. Prior to joining Vistra in October 2016, Morgan was an operating partner at Energy Capital Partners, a private equity firm focused on investing in North America’s energy infrastructure. He previously served as the president and CEO of both EquiPower Resources Corp. and FirstLight Power Resources, Inc. Morgan has also held leadership positions at NRG Energy, Mirant Corporation, Reliant Energy and BP Amoco.
The Electric Power Supply Association (EPSA) is the national trade association representing America’s competitive power suppliers. EPSA members provide nearly 150,000 MW of reliable and competitively priced electricity from environmentally responsible facilities using a diverse mix of fuels and technologies including natural gas, wind, solar, hydropower, geothermal, storage, biomass, and coal. EPSA seeks to bring the benefits of competition to all power customers. Learn more at www.epsa.org and connect with us on LinkedIn and Twitter @EPSAnews.
