A utility that believes in incentives
PSI Energy, not so long ago a ship in distress, is developing internal practices and regulatory proposals designed to provide incentives at every level of the company. When Jim Rogers can to PSI Energy (then Public Service Co. of Indiana) in 1988 as chairman, president and chief executive officer, he faced a difficult task. First, he had to rebuild the financial health of a utility that had virtually all its common equity wiped out by the write-off of the abandoned Marble Hill nuclear project, in which the company had 83% interest. Second, he had to restore the company's public image and the credibility gap between PSI and most of its stakeholders. Lastly, he had to restore the pride and energy of a work force that had been beaten down by over ten years of dealing with the Marble Hill problem. This article discusses the changes implemented at PSI that have involved not only various proposals to regulators for more incentive-based regulatory mechanisms, but also innovations in how employee performance is measured and rewarded. 7 refs., 3 figs.
- OSTI ID:
- 6958535
- Journal Information:
- Electricity Journal; (United States), Journal Name: Electricity Journal; (United States) Vol. 5:10; ISSN ELEJE4; ISSN 1040-6190
- Country of Publication:
- United States
- Language:
- English
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Related Subjects
296000* -- Energy Planning & Policy-- Electric Power
99 GENERAL AND MISCELLANEOUS
990100 -- Management
ANIMALS
ECONOMIC ANALYSIS
ECONOMICS
ELECTRIC UTILITIES
FINANCIAL INCENTIVES
MAMMALS
MAN
MANAGEMENT
PERFORMANCE
PERSONNEL
PRICING REGULATIONS
PRIMATES
PUBLIC UTILITIES
RATE STRUCTURE
REGULATIONS
VERTEBRATES