Dive Brief:
- Electric Light & Power magazine has named the heads of Edison International and Vineland Municipal Electric Utilities as utility CEOs of the Year.
- Edison Chairman, President and CEO Theodore "Ted" F. Craver Jr. won in the large utility division, meaning 400,000 customers or more, and ELP credited him with helping steer the company through tough economic and regulatory times in California.
- Vineland Municipal Electric Utilities Director Joseph A. Isabella took the honors in the small utility category, in part for reducing rates and increasing levels of solar power on the utility grid.
Dive Insight:
"When Mr. Craver and Mr. Isabella took the reins of their respective utilities, they also changed the stories of their companies," said Teresa Hansen, editor in chief of Electric Light & Power magazine.
"Mr. Craver has led Edison International through some of the toughest economic and regulatory times in California, yet the company has emerged stronger," Hansen said, according to a press release. "And under Mr. Isabella's leadership, his New Jersey municipal utility has reduced rates three times and has incorporated enough solar generation to save the city $2.4 million annually. These execs teach all of us a great lesson: They love their jobs, and when others dismiss a goal as impossible, Mr. Craver and Mr. Isabella find a creative way to achieve it."
California-based Edison International is the parent company of Southern California Edison, a 125-year-old electric utility that serves some 14 million customers. Vineland Municipal Electric Utilities serves more than 30,000 electric and water customers in southwestern New Jersey.
