The Honorable Pat Wood III is the 2020 Inductee into the Digital 360 Summit Hall of Fame.
Born in Port Arthur, Texas, Pat Wood, III has had a long career in energy. He is a former Chairman of the Federal Energy Regulatory Commission (FERC) and the Public Utility Commission of Texas (PUCT). The son of a small-business man, Wood has always been a forceful advocate throughout his career for replacing government-centered regulation with customer-focused, technology-unleashing competition.
Today, as CEO of Hunt Energy Network, Wood’s focus is on new power system infrastructure and the related business systems to integrate it into the competitive power market.
Wood also serves as the Lead Independent Director of integrated solar company SunPower (NASDAQ: SPWR) and Director of utility construction firm Quanta Services (NYSE: PWR). He has also served as Board Chairman of independent power producer Dynegy, and a director of TPI Composites, among other companies.
In 1995, Governor George W. Bush named Wood to head the PUCT with a mandate to free up power and telecommunications customers from monopoly utility control. The resulting restructured Texas electric market (ERCOT) is considered to be the most robustly competitive energy market in the country, with high infrastructure investment, diverse service and technology offerings, and customer prices well below what they were under regulation. Texas leads the nation in renewable energy investment; the state’s orderly regulatory environment, reliable energy supplies and open markets underpin its economic development.
During his four years at the helm of FERC, under President George W. Bush, Wood led the responses to the 2000-2001 California energy crisis, the bankruptcy of Enron, and the 2003 North American power blackout. By 2005, over two-thirds of the country was served by the organized wholesale power markets he championed. Under his leadership, FERC promoted the development of a cleaner, more competitive power generation fleet, significant natural gas infrastructure expansions, and a more robust power transmission grid — all in the context of well-ordered competitive energy markets.
Wood holds a B.S. degree in civil engineering from Texas A&M University and a J.D. from Harvard Law School. He serves on the Executive Board of Big Brothers Big Sisters Lone Star and The Joy School Board of Trustees. He and his wife, Kathleen, are the parents of four sons, and they are proud to call Houston home.
Digital 360 Summit Hall of Fame INDUCTION
And it is for all those reasons that we have selected Pat Wood III to be inducted into the Digital 360 Summit Hall of Fame.
Pat Wood III has been a champion of competition, fair prices, customer access, system reliability and much more.