Part of Grid Network »

The Grid Professionals Group covers electric current from its transmission step down to each customer's home. 

Richard Brooks's picture
Co-Founder and Lead Software Engineer Reliable Energy Analytics LLC

Dick Brooks is the inventor of patent 11,374,961: METHODS FOR VERIFICATION OF SOFTWARE OBJECT AUTHENTICITY AND INTEGRITY and the Software Assurance Guardian™ (SAG ™) Point Man™ (SAG-PM™) software...

  • Member since 2018
  • 1,505 items added with 651,480 views
  • Oct 4, 2022
  • 231 views

Ethics matter.

I'm wondering if this opens the door for a class action suit on behalf of the Electricity consumers in New England to recover the $80 million that was spent on fraudulent capacity payments.

This could get interesting.

This is not something you see every day, Executives owning up to corporate failures and paying resulting fines out of their own pockets. I'm betting these expenses will all be covered by senior management's D&O liability insurance.

ISO New England’s senior management takes responsibility for the ISO’s role in this matter. Therefore, the financial penalty outlined in the settlement agreement will be paid through a reduction in executive compensation.  ISO New England has learned from this experience, and have taken actions to prevent similar situations in the future.

This provision is not stipulated in the terms of the agreement

Discussions

No discussions yet. Start a discussion below.

Richard Brooks's picture
Thank Richard for the Post!
Energy Central contributors share their experience and insights for the benefit of other Members (like you). Please show them your appreciation by leaving a comment, 'liking' this post, or following this Member.
More posts from this member

Get Published - Build a Following

The Energy Central Power Industry Network is based on one core idea - power industry professionals helping each other and advancing the industry by sharing and learning from each other.

If you have an experience or insight to share or have learned something from a conference or seminar, your peers and colleagues on Energy Central want to hear about it. It's also easy to share a link to an article you've liked or an industry resource that you think would be helpful.

                 Learn more about posting on Energy Central »