FOR IMMEDIATE RELEASE: Aug. 12, 2020
LAKEWOOD, Colorado – Michael D. Peterson has been selected as Western Area Power Administration’s Senior Vice President and Chief Financial Officer by Administrator and CEO Mark A. Gabriel. Peterson will assume the position Aug. 16.
“Mike has extensive experience as a CFO in the energy business,” Gabriel said. “He brings an understanding of the complex energy industry, fiscal discipline and risk management—all of which are key components of WAPA as a utility and federal agency.”
In this position, Peterson will oversee the efficient and effective financial management and operations of a $1.4 billion portfolio, providing direction and leadership to ensure financial policies, regulations and practices conform to federal and departmental statutory and regulatory requirements.
“WAPA is a fine example of an efficient, well-managed enterprise within the public sector,” Peterson said. “I’m honored to join Mark’s leadership team and welcome the opportunity to contribute to the continued realization of the WAPA’s mission.”
Peterson has more than two decades of experience in the energy, commodities and financial markets. During his professional tenure, he has developed an acute understanding of the energy value chain from resource discovery to fuel combustion to power generation, gaining an appreciation for the important role reliable, low-cost energy plays within our society.
Since 2014, he has served as the principal financial officer for private, private-equity-backed and publicly held enterprises including Red Willow Production Company, Bedrock Energy Resources and Mid-Con Energy Partners. Previously, Peterson served as managing director of two New York-based investment boutiques, first with International Strategy & Investment Group and later with MLV & Co., where he was head of energy research. Before that, he held equity and commodities research analyst positions with Morgan Stanley and SunTrust Robinson Humphrey. Early in his career, Peterson traded electricity and natural gas for Duke Energy and equity index products at the Chicago Mercantile Exchange.
Peterson holds a Master of Business Administration degree in International Finance from the University of Chicago, a Master of Science degree in Financial Markets and Trading from the Illinois Institute of Technology and a Bachelor of Arts degree in Political Science and Economics from the University of Denver.
About WAPA: Western Area Power Administration annually markets and transmits more than 25,000 gigawatt hours of clean, renewable power from 57 federal hydroelectric powerplants owned and operated by the Bureau of Reclamation, U.S. Army Corps of Engineers and International Boundary and Water Commission in 15 western and central states. It is part of the Department of Energy. Follow us on Twitter @WesternAreaPowr or visit the website at www.wapa.gov.