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Civil unrest in Myanmar has led Singapore-based Sembcorp Industries to at least temporarily shut down operation of the 225-MW Sembcorp Myingyan natural gas-fired power plant in Mandalay. Sembcorp, part of […]
The post Myanmar Gas-Fired Plant Shut Down Amid Civil Unrest appeared first on POWER Magazine.
American Electric Power’s (AEP’s) long-serving chairman, president, and CEO, Nick Akins, will step down as CEO on Jan. 1, 2023, and has already passed the company’s presidency to Julie A. Sloat, AEP executive vice president, and chief financial officer (CFO).
Sloat, 53, will become the power generating company’s CEO in January, making her the first woman to serve at the helm of the giant power generating company and only the seventh CEO in its 116-year history.
Sloat’s election as CEO by the AEP Board of Directors on Aug. 10 marks a notable executive shuffle for the public utility holding company, which is in the midst of a historic transformation into a more agile and customer-focused provider of energy solutions. As CEO, Sloat will be expected to navigate the massive company through the energy transition, which is being driven by multiple, and often conflicting factors, including changing customer needs, evolving policies, stakeholder demands, demographics, competitive offerings, technologies, and commodity prices.…
Longtime Southern Co. CEO Tom Fanning plans to announce his retirement, perhaps by the end of this year, stepping down after leading the company since 2010.
A Bloomberg report on July 29, citing “people familiar with the matter,” said the U.S. utility giant already has launched a search to find Fanning’s replacement. Bloomberg reported that a Southern Co. spokesperson said a decision has not been made with regard to the timing of Fanning’s exit.
Fanning turned 65 in March of this year. Southern has a mandatory retirement age of 65 for its executives, though Bloomberg reported that the company has extended that age limit for Fanning as he oversees the continued construction of a two-unit expansion of the Vogtle nuclear power plant.
Fanning in a call with investors on July 28 said both of the new units at Vogtle should enter commercial operation in 2023, after years of delays and cost overruns for what energy analysts now say is $ 30 billion-plus project, more than double the expansion’s original cost estimates.…