Green Mountain Power Named a Finalist for Edison Electric Institute’s Award

first_imgNoting significant changes in corporate culture and work processes that ultimately helped lead the company to meet or exceed all customer service standards, the Edison Electric Institute today named Green Mountain Power Corporation as a finalist for the power sector’s highest honor, the Edison Award.Given annually by the Edison Electric Institute (EEI), the prestigious award honors the U.S. shareholder-owned and international members for outstanding contributions and advancement of the industry. A committee of national industry trade publication editors and a panel of past and current EEI chairmen select the finalists and ultimate winners. This year’s award, the 45th, will be announced June 8 at EEI’s annual convention in Orlando, Fla.”These companies embody the spirit of innovation that forms the cornerstone of our industry,” said EEI President Thomas R. Kuhn in announcing the finalists. “The strong, bold leadership they exhibit today, coupled with the ability to chart a course into tomorrow, are what set them apart. In Green Mountain Power’s case, it was the transformation of the corporate culture and work processes that resulted in it being named a finalist.”Green Mountain set out on a mission to transform itself into a company characterized by financial strength, zealous concentration on customer service, and investor and regulatory confidence. Over the past several years, the company analyzed each position and its benefit to customers. This effort resulted in a radically modified workforce and work processes, with the company now serving 460 customers per employee compared with the national average of 337.This major shift in the company’ s corporate culture included a new work environment that facilitates communication and teamwork, and pushes down responsibility and decision-making. Private offices are non-existent, and all employees—including senior executives—work in cubicles or open spaces of the same size.In addition, Green Mountain Power awarded all permanent employees stock options, which has increased employee interest in the financial health of the company. The financial performance of the company has improved to where Business Week ranked them 25th among The Small-Cap Top 50 in its national index of small-cap companies.Perhaps most important, Green Mountain Power meets or exceeds all customer service standards, has reduced outages to below the national median, and offers a money-back service guarantee.The other U.S. finalists for the 2004 Edison Award are MidAmerican Energy, Public Service Enterprise Group and We Energies.last_img read more