CHICAGO (Oct. 1, 2009) - Exelon Corp. today announced that John Stough has been appointed vice president and chief development officer for Exelon Transmission Company, a new national venture that will seek to capitalize on the growing national market for new transmission lines.
Stough joins Exelon from American Electric Power (AEP), where he was vice president of Electric Transmission America, a joint venture between AEP and MidAmerican Energy Holdings Company. In this role, Stough was responsible for building a new portfolio of transmission projects with regional electric utility partners, including projects for more than 270 miles of the first-ever 765-kilovolt transmission lines west of the Mississippi River. Stough's 28-year career at AEP included transmission strategy and business development, transmission marketing, market development, power marketing, and demand side management.
"Exelon benefits greatly from the addition of John Stough, who brings deep expertise in creating electric transmission partnerships," said Ian McLean, CEO of Exelon Transmission Company and former executive vice president of development for Exelon. "John is a well-known transmission expert with nearly three decades of utility experience. His breadth of experience and relationships in the transmission arena are invaluable to our leadership team."
Exelon Transmission Company enters a market in which U.S. companies are projected to spend $60-$100 billion on transmission development projects by 2020. New transmission projects have the potential to reduce congestion, improve reliability, and facilitate movement of renewable energy, such as wind and solar, to population centers where it is needed most.
"We will focus initially on projects that leverage the existing talent and expertise of Exelon," said McLean. "Our portfolio will evolve over time and may include projects with both traditional, regulated profiles as well as more competitive, market-based investments."
John Rowe, chairman and CEO of Exelon Corp., will be chairman of Exelon Transmission Company. Tom O'Neill, former senior vice president of new business development for Exelon, is the new company's COO.
Stough, who reports to McLean, holds a bachelor's degree from Bowling Green State University and is active on multiple RTO fronts, state regulatory commissions and the renewable energy community.