PJM Interconnection today announced that it has appointed Carl F. Coscia, Ph.D., as Vice President and Chief Risk Officer. He will begin at PJM Sept. 28, 2022.
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Coscia will report directly to PJM President and CEO Manu Asthana, and will have oversight from the Risk and Audit Committee of the PJM Board of Managers. “Risk Management is a critical function for PJM as an organization and for the protection of our members,” said Asthana. “Carl brings a wealth of risk management, market and regulatory experience to PJM that will serve us and our stakeholders well.” As a member of PJM’s Executive Team, Coscia will work closely with PJM’s CEO, other Executive Team members and the Risk and Audit Committee of the Board to coordinate PJM’s risk management operations, including credit risk, enterprise risk management, market surveillance and insurance.
Coscia has more than 20 years of experience in commodity and financial markets, most recently as Global Head of Risk Management for German-based energy company, EnBW, where his responsibilities included market risk, enterprise risk, credit risk, compliance and approval for all master trading agreements. He previously served as Chief Business Officer and Chief Risk Officer for Hartree Partners, LP. He also worked as Vice President of Federal Energy Policy for Constellation Energy, Director of Wholesale Power Fundamentals for TXU Wholesale Power Trading and Branch Chief for the Federal Energy Regulatory Commission’s Office of Enforcement. “I look forward to managing risk for an organization that is so vital to the lives of the 65 million people it serves,” Coscia said. “Risk management becomes more important each day in this evolving, dynamic industry that produces and delivers power and administers the markets for wholesale electricity.” Coscia holds a Ph.D. in economics from the University of Minnesota, as well as a Bachelor of Science in economics and a Bachelor of Arts in mathematics from the University of Kansas.
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 85,103 miles of transmission lines; administers a competitive wholesale electricity market; and plans regional transmission expansion improvements to maintain grid reliability and relieve congestion. PJM’s regional grid and market operations produce annual savings of $3.2 billion to $4 billion. For the latest news about PJM, visit PJM Inside Lines at insidelines.pjm.com.
Source Link: https://www.pjm.com/-/media/about-pjm/newsroom/2022-releases/20220919-pjm-interconnection-appoints-carl-f-coscia-as-new-chief-risk-officer.ashx