June 25, 2013 02:53 PM Eastern Daylight Time
HOLYOKE, Mass.–(BUSINESS WIRE)–ISO New England Inc., the operator of the region’s bulk power system and wholesale electricity markets, today announced the election of the 2013 Board of Directors slate, composed of Ray Hill, Vickie VanZandt, and Barney Rush. Hill and VanZandt were re-elected to serve another term, while Rush will replace David Vitale, who is retiring on October 1, 2013, after 10 years of service.
“We are pleased to have Barney join the ISO New England Board of Directors,” said David Vitale, current Chairman of the Board of ISO New England. “He is joining the ISO Board at a time when the organization is dealing with a number of difficult market design and power system reliability issues. He brings a unique blend of expertise from the world of project finance and the power generation industry, which I expect will be utilized fully during his tenure.”
Gordon van Welie, President and CEO of ISO New England, added, “The region’s resource base currently is undergoing a rapid transformation, as identified in our Strategic Planning Initiative. Barney’s background will stand the ISO in good stead as we work together with our stakeholders to address this transformation. At the same time, we are saying goodbye to David Vitale, who has been a great champion for the ISO and our mission to ensure the region has access to a reliable power system and competitive wholesale markets. His contributions have positioned the ISO well for future challenges, and we will all miss his leadership and valuable insight.”
Rush currently is an Operating Partner of Denham Capital Management. Before this, he was CEO of H2Gen Innovations, Inc.; Group Chief Executive Officer, Europe, for Mirant Corporation; an Executive Vice President of Oxbow Power Corporation; and a Senior Vice President of Lehman Brothers. Earlier in his career, he served as a special assistant in the US Department of State and was a research assistant at the World Bank. He holds a master’s degree from Princeton University and a bachelor’s degree from Harvard College.
Hill joined the ISO Board in 2010 and has taught economics and finance at the Emory University Goizueta Business School since 2003. VanZandt joined the ISO Board in 2011 and runs VanZandt Electric Transmission Consulting, Inc. after a 35-year career with the Bonneville Power Authority.
As a Regional Transmission Organization, ISO New England elects its board members through a nominating process that involves representatives from the ISO New England Board of Directors; the New England Power Pool (NEPOOL); and the New England Conference of Public Utilities Commissioners, the state regulatory group. Candidates also receive the endorsement of the NEPOOL Participants Committee. This year’s election represents the ninth year of this collaborative selection process.
ISO New England Board members are subject to the company’s code of conduct that includes a nonaffiliation provision, which means that no officer of the company can have a financial interest in any company participating in New England’s wholesale markets. To learn more about ISO New England’s governance structure, as well as its Board of Directors, please visit the ISO New England website: http://www.iso-ne.com/aboutiso/corp_gov/index.html.
Created in 1997, ISO New England is the independent, not-for-profit corporation responsible for the reliable operation of New England’s electric power generation and transmission system, overseeing and ensuring the fair administration of the region’s wholesale electricity markets, and managing comprehensive regional electric power planning.