Bye-bye Peevey!

peevey money and healthToday CPUC President Michael Peevey announced he will not seek reappointment when his term ends in December 2014.

Recent news embroiled Peevey in controversy over his collusion with PG&E where he was caught drinking bottles of pinot with PG&E’s regulatory executive Brian Cherry, and soliciting donations from PG&E.

Today he issued the following statement: “I originally planned to make the following announcement at the CPUC’s regularly-scheduled Voting Meeting on October 16th, but instead I am moving the announcement to today to state that I will not seek reappointment to the CPUC when my term expires at the end of this year. Twelve years as President is enough. The Governor, of course, will make a decision as to my successor in due time. I will speak more extensively regarding my terms as CPUC President at the last Voting Meeting of the year on December 18th.”