Dear Friends,
I am writing to let you know that, effective
January 1, I have left Akin Gump and the practice of law in order to
create a new company in the electric power distribution business. The
company, US Grid Company (USGRDCO), is focused on
strengthening the reliability, resilience, cybersecurity, efficiency
and renewable integration of the nation’s electric distribution system.
I will be creating this company with two cofounders – Ray Gogel
, former Chief Information Officer, Chief Administrative Officer and
President of Customer and Enterprise Solutions of Xcel Energy, and
David Mohler, who served as Chief Technology Officer of Duke
Energy, among other senior roles – as well as other senior professionals
in the system design, project management and finance areas.
Our objective in forming USGRDCO is to transform
today’s power delivery system by paving the way to the utility of the
future in a way that customers can afford and that protects the
utilities’ financial health so that they can serve the
needs of all segments of society.
In particular, USGRDCO will focus on:
1.
Financing and ownership of distribution system
improvements through innovative ownership and financing structures that
will facilitate the making and regulatory approval of the investments
required to strengthen the distribution system.
2.
Design and implementation of the system upgrades
needed to resolve the challenges to the nation’s electric distribution
system and to provide greater physical and cyber-security reliability,
greater certainty of system performance, and
cost and operating efficiencies that lead to lower costs.
3.
Commercial development of reliability resources,
including micro-grids, energy storage for grid management and stability,
micro-turbines and energy efficiency and demand side management.
4.
Investment in excellent grid companies.
5.
Regulatory, legislative, executive and public
advocacy in support of policies to strengthen the nation’s electric
distribution system infrastructure and to help create the utility model
of the future.
I can be reached at:
Jacob J. Worenklein
Chairman and Chief Executive Officer
US Grid Company (USGRDCO)
1177 Avenue of the Americas, 5th Floor
New York, NY 10036
My best wishes to each of you. I look forward to staying in touch.
Jay