Marcus P. Faggart
President and Chief Executive Officer, Rate case strategy
Richmond, VA · (847) 555 0175 · name@example.com · linkedin.com/in/marcuspfaggart
Key Qualifications
EXPERIENCE
Twenty six years in regulated utility operations, regulatory affairs and general management, seven as chief executive
INDUSTRIES
Investor owned electric and gas distribution, regional transmission, competitive generation
SPECIALTIES
Rate case strategy, integrated resource planning, reliability performance, capital deployment
SYSTEMS
SAP, Oracle Utilities Customer Care and Billing, PSS E, Power BI, Tableau
CREDENTIALS
Licensed Professional Engineer in Virginia, senior member of the Institute of Electrical and Electronics Engineers
EDUCATION
Master of Business Administration, University of Virginia
Results at a Glance
340
Million dollar base
148
Minutes across five
620
Megawatts of solar
2019
Passed two audits
Executive Summary
Chief executive of an investor owned electric and gas utility serving 1.1 million customers in Virginia, with twenty six years in utility operations and regulation. Runs the company on two tests: what the reliability indices say each month and whether the rate case story holds up in front of the state commission.
Signature Achievements
- Settled a 340 million dollar base rate case with every intervenor signing on, closing eleven months after filing with no litigated issues.
- Cut the system average interruption duration index from 148 to 96 minutes across five years by rebuilding the twenty worst performing circuits.
- Brought 620 megawatts of solar and storage into service on schedule using Inflation Reduction Act credits, holding the residential bill increase under three percent.
- Closed out four open North American Electric Reliability Corporation findings inherited in 2019 and has passed two audits since with no violations.
- Raised the customer satisfaction score from the third quartile to the first among mid Atlantic peers in three years.
- Lifted the capital program from 480 million to 810 million dollars a year without a single credit rating downgrade.
Professional Experience
President and Chief Executive Officer
James River Power and Light, Richmond, VA 2019 to present
Investor owned electric and gas utility, 1.1 million customers, 2,900 employees, roughly 2.6 billion dollars of annual revenue, inside PJM Interconnection
- Leads a team of eight officers and reports to a board of eleven on safety, reliability, financial and regulatory performance.
- Owns the relationship with the state corporation commission staff, the attorney general consumer counsel and the industrial customer group.
- Chairs the capital committee that sets the annual spending plan across distribution, transmission and generation.
- Sponsored the integrated resource plan that retired two coal units and replaced them with solar, storage and demand response.
- Meets each quarter with the largest twenty commercial accounts and with legislators from the fourteen counties served.
Chief Operating Officer
Tidewater Energy Delivery, Norfolk, VA 2014 to 2019
Distribution operations for 640,000 coastal customers with heavy storm exposure
- Ran distribution, transmission and field services with 1,400 employees and a 260 million dollar operating budget.
- Rebuilt the storm restoration model after a hurricane season that left crews in the field for nineteen days.
- Introduced a vegetation management cycle funded on a four year rotation, which removed the largest single cause of outages.
- Took the recordable injury rate from 2.1 to 0.9 by moving safety stand downs into every crew briefing.
Vice President of Regulatory Affairs
Blue Ridge Utility Group, Roanoke, VA 2008 to 2014
Regulatory strategy for a combination utility with cases in two states
- Directed three base rate cases and two fuel cost proceedings, including testimony as the company policy witness.
- Built the cost of service and rate design team that still supports the filings today.
- Negotiated a performance based rate mechanism tied to reliability and customer service metrics.
Licensure and Certification
Licensed Professional Engineer, Commonwealth of Virginia, number 0402 041188
Senior member, Institute of Electrical and Electronics Engineers
Board member, Edison Electric Institute reliability executive council
Education
Master of Business Administration, University of Virginia
Bachelor of Science in Electrical Engineering, Virginia Polytechnic Institute and State University
Core Skills
Rate case strategy · Integrated resource planning · Reliability performance · Capital allocation · Regulatory negotiation · Storm restoration · Board reporting · Executive team building · Safety leadership · Legislative affairs