Phoenix, Ariz.— At the Arizona Corporation Commission’s (ACC) Staff Open Meeting on November 12, 2024, Commissioner Nick Myers joined on a 4-1 vote (Commissioner Tovar dissenting) directing ACC Legal Staff to seek intervention in two Federal Energy Regulatory Commission (FERC) dockets to express concerns with the potential undue influence of holding and investment companies over public utilities.

“As everyone is aware, I am a firm believer in investors appropriately investing in our utilities. I believe it is crucial in keeping rates as low as possible. However, when those investors start exercising their investment power to dictate policy that may or may not be contrary to the needs of our utilities and their customers, or that attempts to circumvent our governing authority, I feel it is wholly and completely inappropriate. What we have here are large companies effectively expecting to have a rubber stamp by FERC to invest above and beyond protections that have been put into place for a very good reason. This blanket extension effectively would allow them to continue doing whatever they are doing without so much as a review,” explained Commissioner Myers, “It is for this reason I am voting yes to join 20 other states in making sure these companies must go through a hearing process before being allowed to ignore a crucial customer protection.”

For more information, please contact Commissioner Myers at myers-web@azcc.gov.