John MacIsaac tapped as new N.L. Hydro president
Nalcor CEO says appointment part of 'fundamental change' in operations, structure
Nalcor Energy has announced that John MacIsaac has been appointed president of Newfoundland and Labrador Hydro.
MacIsaac previously ran operations at the Churchill Falls generating station in Labrador, and oversaw major engineering projects within Nalcor.
The appointment is part of what Nalcor Energy CEO Ed Martin described as a "fundamental change" in the corporation's operating mode and organizational structure.
It comes a day after the provincial government announced it has hired an external consultant to review the governance structure for Nalcor.
"Over the past year we have been preparing for this transition and the steps taken today are integral to our success in bringing Muskrat Falls online and exporting our power to markets in the U.S," Martin said in a news release.
Rob Henderson takes on new role
In addition to MacIsaac's appointment, Martin also announced that Rob Henderson, the former vice-president of N.L. Hydro, will lead Nalcor's so-called transition and integration efforts.
Crown-owned Nalcor is the parent company of N.L. Hydro.
The position of N.L. Hydro president is a new one, and is part of an evolution at Nalcor as it prepares to connect to the North American energy grid following the completion of the the 824-megawatt Lower Churchill hydroelectric project at Muskrat Falls, the Labrador Island Link and the Maritime Island Link.
The appointments coincide with a major period of growth for Nalcor, with the value of managed assets increasing from $2 billion to $11 billion over the past decade.
That figure is expected to grow to $14 billion within five years.
Martin said Hydro has made significant improvements over the past 18 months to increase the reliability of the electricity system.
"We are focused today on ensuring we provide customers with the service quality they expect while ensuring we are managing the electricity system for their future needs as well," he said.