Bailey Leaving FERC For Position at Cinergy
After a long six and a half years as a commissioner on the
Federal Energy Regulatory Commission, Vicky A. Bailey is stepping
down effective Feb. 1 to serve as president of PSI Energy Inc.,
Indiana's largest electric utility and a subsidiary of Cinergy
Corp. PSI serves more than 655,000 customers in 69 of the state's
The move comes not long after Bailey recused herself from a
series of cases, leading to speculation that she might be leaving
the Commission. In an earlier interview with NGI, she admitted
holding discussions with several potential employers (see NGI, Nov.
22). She said her departure was not imminent, but she seemed eager
to plot a new course.
"Vicky Bailey is an impact player who brings knowledge of both
the energy industry and the state of Indiana to her position as
president of PSI," said James E. Rogers, vice chairman, president
and CEO of Cinergy. "She has been an active participant in the move
to a competitive electricity market and will play a key role for
our company in shaping energy policy in Indiana. I am delighted
that Vicky is joining the Cinergy team." Rogers himself is a FERC
alum, having served as general counsel in the early eighties.
Bailey succeeds J. Joseph Hale, Jr., who has served as interim
president of PSI Energy since John M. Mutz retired from full time
service in May 1999. Hale continues to serve as Cinergy's vice
president of corporate communications and president of the Cinergy
Bailey, an Indiana native, served on the Indiana Utility
Regulatory Commission from 1986 to 1993, prior to her appointment
as a FERC commissioner. She was first nominated by President
Clinton in 1993 to serve a term on the FERC expiring in 1996 and
was then renominated for a five-year term. Prior to joining the
IURC, Bailey was vice president of administration for the J. Bailey
Company. She holds a BS degree from the Krannert School of
Management at Purdue University.
Longtime FERC observers have described Bailey as a firm believer
in deregulation and lighter-handed Commission oversight. She and
Commissioner Curt Hebert were often on the same free-market side of
the fence in contrast to the other three commissioners who have
more centrist views and have taken more cautious approaches to
further deregulation. If she is replaced by more of a political
centrist, it could leave Commissioner Curt Hebert isolated as a
lone dissenter on many cases. On the other hand, if someone with a
similar philosophy replaces Bailey, FERC could remain significantly
A Republican or an Independent will have to take Bailey's place
on the Commission which already has three Democrats.
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