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In this episode of Know Power, Noha and Mike speak with Pat Wood, a pivotal figure in transforming energy markets through regulatory innovation. With a distinguished career spanning leadership roles at the Public Utility Commission of Texas and the Federal Energy Regulatory Commission, Wood brings a unique perspective on energy policy, market design, and the balance between regulation and innovation. Caitlin Smith, representing Jupiter Power, joins as a co-host, contributing insights from the renewable energy sector.
Guest bio:
Pat Wood III is the past Chairman of the Federal Energy Regulatory Commission (FERC) and of the Public Utility Commission of Texas (PUCT). The son of a small businessman, Mr. Wood has been a forceful advocate throughout his career for replacing government-centered monopoly regulation with customer-centered, technology-unleashing competition.
Today, as CEO of Hunt Energy Network, Mr. Wood’s focus is on new power system infrastructure and the related business systems to integrate it into competitive power markets.
Mr. Wood also serves as the Lead Independent Director of solar pioneer SunPower (NASDAQ: SPWR), and Director of specialty construction firm Quanta Services (NYSE: PWR), including his recent appointment to Luma Energy, overseeing the Quanta-ATCO joint venture to operate the Puerto Rico utility system. He is also a Director of Spring Valley Acquisition Corp. (NASDAQ: SV). In the past, he was Board Chairman of independent power producer Dynegy and a Director of TPI Composites, among others.
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[00:02:05] Pat Wood's origins in the energy sector, from Port Arthur to FERC
[00:03:27] Transitioning gas utilities to competitive markets, drawing parallels to electricity
[00:04:30] Market design and the unfinished business of standardization
[00:06:16] The complexity of implementing a standard market design across diverse regions
[00:07:31] Efforts in renewable energy integration and the role of competitive markets
[00:10:05] The dynamic interplay between state and federal energy regulations
[00:18:32] Discussion on grid constraints and integrating new generation resources
[00:22:43] The potential of demand response and distributed energy resources in grid management
[00:27:41] Future outlook on infrastructure development and renewable energy support
[00:34:18] The socio-economic impacts of energy policy and infrastructure development
[00:38:05] Examining successful renewable energy projects and key takeaways
[00:42:22] Technological advancements and their implications for energy storage and distribution
[00:45:37] Strategies for enhancing grid reliability in the face of growing energy demands
[00:49:08] Global energy trends influencing domestic energy policies
[00:53:17] The importance of consumer education in energy conservation and choice
[01:02:09] Energy innovation and the collaborative effort towards a sustainable energy future
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Noha Sidhom
Mike Borgatti
