Recap: New York Power Conference 2015

Investigative/Forensic Accounting Blog

Meaden & Moore along with two prominent New York insurance market service providers (Mound Cotton Wollan & Greengrass and Douglas G. Peterson & Associates) hosted the 4th Annual New York Power Conference. The one-day event is the culmination of the efforts of many individuals in the insurance sector. These individuals went above and beyond to present an agenda that proved interesting, topical and important to the 150 energy sector professionals whom attended.

This year the focus was on volatility and changes in the energy market. The day kicked off with an exuberant speech by Jim Hughes, Corporate Insurance Manager, of Conoco Phillips. He highlighted the changes Conoco Phillips are faced with when placing insurance as the world’s largest exploration company. Additionally, we had many prominent speakers who discussed various industry topics. A highlight of the conference this year was a discussion on off-shore wind projects currently undertaken in the United States. Currently it is astoundingly uneconomical to produce off-shore wind power and that fact certainly made many individuals in the room question the regulatory decision being made in the power sector. Patrick Jeremy, who is retiring this year, devoted most of his career to wind turbine technology and served as a great ambassador for the industry.

As a follow up to the inaugural New York Power Conference, Dr. Agustin Irizarry made his return to update us on tidal wave power generation. He demonstrated various facts about Puerto Rico, as he is the head of the Electrical Engineering department at the University of Puerto Rico. They are looking for tidal wave energy to be the differentiator in their power generation scheme. He also delivered some interesting news about a consortium of power generating entities that are studying the effects of the aging workforce in the industry. Dr. Irizarry is an expert we are sure to see in the future at Powercon.

Hurricane Sandy crept her ugly head in one last time for a discussion of the PSE&G case in which Powercon’s own Jeff Weinstein was the representative for the insurance carriers. The case was discussed in detail and sparked much needed discussion about prominent issues affecting the insurance industry.

It was another great conference attended and hosted by professionals who care about educating the insurance industry and making it a less contentious environment focused on equitable claims resolution and growth.

A special thanks to Liz Peterson of DGPA and Jeff Weinstein of MCWG for spending much of their time ensuring that the day was a great success.

Meaden & Moore continues its commitment to the energy sector. Our firm has a dedicated team of professionals who have decades of experience. In addition, to acting as experts, Meaden & Moore has dedicated resources for training our experts, and delivered various industry training seminars to industry professionals. To learn more about Meaden & Moore’s commitment to the Energy sector, contact Rob Traven, the Managing Partner of the Energy and Mining division or Joe Scarlato the Director of the Energy and Mining division.

For more information on New York Power Conference please visit nypowercon.com.