AESO Board announces CEO transition

CALGARY, Alberta, Oct. 16, 2018 (GLOBE NEWSWIRE) -- The Alberta Electric System Operator (AESO) Board announced today that David Erickson, President and Chief Executive Officer, will resign from the organization, effective January 31, 2019. Mr. Erickson joined the AESO in 2003 as Chief Financial Officer and was promoted to President and Chief Executive Officer in 2009.

Mr. Erickson led the organization through a period of significant change as the electricity industry evolved over the past decade. Most importantly, he ensured the fulfillment of the AESO's mandate to provide reliable power to Albertans through the operation of the provincial power grid.

"David has fully committed himself to serving Albertans above all else. His strategic visionary skills, combined with the ability to successfully execute, are only enhanced by his steadiness in the face of challenge, and his understanding that inspiring people is the best way to move results forward," said Linda Chambers, AESO Board Chair. "The AESO Board wishes David and his family well with his future plans, and thanks him for the legacy he leaves behind for current and future Albertans."

Among its responsibilities, the AESO manages a multi-billion dollar wholesale electricity market and plans the transmission system. Between 2009 and 2014, Mr. Erickson and his team, in concert with multiple stakeholders, led industry oversight on both new build and replacement of aging transmission infrastructure, such that Alberta now has one of the most modern, congestion-free electricity transmission networks in North America.

Most recently, Mr. Erickson has been instrumental in leading the execution of key aspects of a restructured industry framework. The AESO has completed a highly successful competitive bidding process for renewable generation, resulting in the development of multiple renewable power projects across the province, as well as foundational work on a complex capacity market design for Alberta. The capacity market design is intended to ensure reliable electricity supply for the province well into the future. Mr. Erickson's involvement in the key design phases has been essential to laying the groundwork for a framework that will ensure reliable, cost-effective power for Albertans.

To ensure a seamless transition of this critical work, and as a result of many years of deliberate succession planning, the AESO Board is pleased to announce that Mr. Michael Law will assume the role of President and Chief Executive Officer of the AESO, effective January 31, 2019, following Mr. Erickson's departure.

Mr. Law is currently the Senior Vice-President and Chief Operating Officer (COO) of the AESO, where he oversees the capacity market transition, grid operations, the Renewable Electricity Program, transmission planning and Infrastructure Technology. He has been an executive of the organization since 2009 in a variety of increasingly responsible roles and has an 18-year background in the electricity industry, including past roles in energy trading, marketing and retailing companies. Mr. Law has a Master's degree in Mechanical Engineering and a Masters of Business Administration in Finance, both from the University of British Columbia.

The AESO is deeply involved in a number of complex issues including system integration of new generation and electricity storage technologies into the power system, while ensuring the stability of the system as it migrates away from coal generation.

"The AESO Board has a high degree of confidence in Mike's ability to assume the President and CEO role," said Mrs. Chambers. "This transition has been planned over time, and we believe Michael will continue to deliver the AESO's current mandate seamlessly, while bringing his own unique perspectives to the future on behalf of Albertans."

More information on the AESO can be found at www.aeso.ca

The Alberta Electric System Operator is responsible for the safe, reliable, and economic planning and operation of the Alberta Interconnected Electric System. We provide open and non-discriminatory access to Alberta's interconnected power grid and we also facilitate Alberta's competitive wholesale electricity market.

For more information, contact:

Mike Deising

Director of Communications

Phone: 403-651-0512

Email: [email protected]