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Mollie Morrison appointed Chief Financial Officer for ML&P

Replacing Mark A. Johnston, who was appointed general manager


Published:

ANCHORAGE, AK – (October 13, 2015) – Mollie Morrison has been appointed as the new chief financial officer of Municipal Light & Power, replacing former ML&P Chief Financial Officer Mark A. Johnston, who was appointed general manager on August 25, 2015.

Morrison joined ML&P in February 2014 as the utility controller. In this role, she was responsible for all financial data and reporting for the utility, provided key oversight of all financial audits and ensured compliance with current accounting standards and other applicable regulations, codes and laws.

“Ms. Morrison has an advanced knowledge of governmental and utility financial reporting and the business practices needed to operate in a regulated environment,” said ML&P General Manager Mark Johnston.

Morrison has 12 years of experience in finance and accounting positions. Before joining ML&P, she most recently worked as senior manager at BDO USA, LLP, where she managed outsourced internal audits and profitability analysis projects, and supervised consulting staff.

During her tenure as an auditor at Mikunda, Cottrell & Co. from 2003 to 2012, Morrison managed client relationships and supervised financial audit engagement teams for not-for-profit, health care, government, utility and construction supply entities.

She was awarded a bachelor of business administration in accounting and management information systems from the University of Alaska, Anchorage, and has been a Certified Public Accountant in the State of Alaska since 2006.

ML&P, an 83-year-old utility, recently received an A+ rating in the bond market.

 

Municipal Light & Power provides safe, reliable and affordable electric utility service to about 30,000 residential and commercial customers in its roughly 20-quare-mile service territory. ML&P serves commercial, university and medical customers in the Downtown and Midtown business districts, as well as industrial loads in the Ship Creek and Anchorage Port areas and residents in some of Anchorage’s oldest neighborhoods. In addition, ML&P provides bulk power to Joint Base Elmendorf-Richardson and sells electricity to other Alaska Railbelt utilities. ML&P is owned by the Municipality of Anchorage, which purchased the distribution system from the privately owned Anchorage Power & Light Co. in 1932. ML&P is subject to the Regulatory Commission of Alaska. Since 1932, ML&P has grown to include production and transmission, as well as upgraded and expanded distribution. The utility has a one-third working interest in the Beluga River Unit gas field, making it one of the only vertically integrated natural-gas-fired utilities on the West Coast. The gas field provides ML&P with a secure and reliable source of fuel for most of its needs through 2018. About 15 percent of ML&P’s generation is from renewable hydroelectric resources, and the utility has been investing millions in upgrading its aging facility to include clean and efficient natural-gas-fired generation. ML&P is building a 120-megawatt thermal generation plant in east Anchorage. The new plant will be one of the world’s most energy efficient thermal-generation plants in the world when complete in 2016.

 

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