FERC presses financial giant Vanguard over possible efforts to influence utility power portfolios
Thirteen state attorneys general are urging the Federal Energy Regulatory Commission to reconsider its 2019 authorization allowing The Vanguard Group Inc. to invest in electric utilities, worrying that Vanguard’s well-known environmental activism and ESG demands will continue to guide decision-making and that Vanguard will use its financial position in the utilities to influence power portfolio and generation mixes.
“Should a company like Vanguard seek to influence the management and operation of Utilities’ generation portfolio, for example, this could have a significant impact on the rates consumers pay for electrical service,” the commissioners said.
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