VALLEY FORGE, Pa., Nov. 18, 2019 /PRNewswire/ -- The PJM Board of Managers announced today that it has appointed Manu Asthana to serve as PJM Interconnection's President and CEO, effective Jan. 1, 2020.
"We welcome Manu to lead PJM into the future. The electric industry is rapidly changing, and PJM needs to continue to evolve. Manu comes to PJM with a wealth of experience from the electricity value chain, and we are confident that he will bring new and important perspectives to the organization. We are fortunate to have Manu's leadership and expertise as PJM works to enhance our engagement with members and policymakers in this fast-paced industry," said Dr. Ake Almgren, Chairman – PJM Board of Managers.
Dr. Almgren noted, "We highly appreciate Sue Riley for her leadership during this challenging time. She has been working with PJM management, members and policymakers in dealing with the many issues at hand at PJM and has laid a strong foundation for Manu to build on going forward. Sue will remain in her current role through January 1 and will then resume her position on the PJM Board of Managers."
Asthana brings to PJM a wealth of leadership experience across the electricity industry, including power generation operations, optimization and dispatch, competitive retail electricity, electricity and natural gas trading, and risk management, which he acquired in his more than 21 years in the energy industry.
Most recently, Asthana served as President of Direct Energy Home in North America, where he led a team of over 2,600 to combine the company's retail electricity and home-services businesses, creating a leading energy and home-services provider serving over 3.4 million customers. He previously led power generation operations at Direct Energy, energy trading at both Direct Energy and at the TXU group of companies, as well as generation optimization and dispatch at TXU. In addition, Asthana also served as Chief Risk Officer of TXU Corporation, where he helped senior management and the Board quantify and manage risk in TXU's businesses.
Asthana has a Bachelor of Science degree in Economics from The Wharton School at the University of Pennsylvania, where he was a Benjamin Franklin Scholar and a Joseph Wharton Scholar. He is active in the community, serving on the Board of Trustees of Texas Children's Hospital and as a Board Member of the Houston Food Bank and Child Advocates, Inc.
Asthana, his wife Aparna, and their family will be relocating to the Greater Philadelphia region from Texas.
PJM Interconnection, founded in 1927, ensures the reliability of the high-voltage electric power system serving 65 million people in all or parts of Delaware, Illinois, Indiana, Kentucky, Maryland, Michigan, New Jersey, North Carolina, Ohio, Pennsylvania, Tennessee, Virginia, West Virginia and the District of Columbia. PJM coordinates and directs the operation of the region's transmission grid, which includes over 84,236 miles of transmission lines; administers a competitive wholesale electricity market; and plans regional transmission expansion improvements to For the latest news about PJM, visit PJM Inside Lines at insidelines.pjm.com.
SOURCE PJM Interconnection