I recently left a full-time job to start something that I have been thinking about for over a decade. Why?

Before I jump to all of the reasons that led to this change, just a little more about me and what I used to do. I used to manage a team of 25 very talented individuals. These colleagues dedicate themselves to developing innovative market designs for New York’s wholesale electricity market.

What does that even mean? 

A little history…

In December 1999, a non-profit independent entity was formed to operate New York’s electric system and administer competitive markets that allow electric generators to sell (or offer) electricity and large buyers of electricity, including utilities and large electric customers, to purchase (or bid) electricity through an auction mechanism. The market design establishes the rules for operating and participating in these markets (or auctions). The motivation is to clear the most competitive set of generators to serve the customers’ needs at the lowest cost, while also considering the practical physics of reliably operating the electric grid.

💡 Wholesale electricity markets are a complex and interesting topic that deserves several articles to explain the philosophy, the structure, and the operation.

Back to my journey…

I graduated in 1998 with an Electrical Engineering degree from Clarkson University. I went to work for Central Hudson Gas and Electric Corporation, an investor-owned utility based in Poughkeepsie, NY, and enrolled in graduate school at Rensselaer Polytechnic Institute studying Electric Power Engineering. I left Central Hudson Gas and Electric in early 2000 to join the New York Independent System Operator, Inc. or NYISO. At the time, the NYISO and other wholesale electric market operators were considered to be “thought experiments” by many critics.

So, why did I leave? There was only one real reason.

To Avoid Regret.

I have experienced on a few occasions much regret for not trying something, opting out, or just being afraid to throw my hat in the ring for that big role or taking that uncertain but potentially very rewarding step. Instead, I followed the easy path or pushed the easy button. Let me be clear, I work hard and constantly look for ways to improve. But, when it came to my career I was very fortunate to have been tapped for most, if not all, of the jobs along the way.

I was lucky enough to learn from some of the best engineers, economists, IT professionals, accountants, and lawyers in the industry. I was also lucky enough to work with every department at the NYISO on substantive efforts. This provides me with a tremendous perspective on how the market design is implemented in practice and the interaction of operations, planning, and markets in fulfilling a comprehensive wholesale market.

Many of you have different memories and views of life during the COVID pandemic. For me, it provided a lot of time to think about what comes next. I spent a lot of time reflecting on what I wanted, whether I was running from something or interested in building my own company. This allowed me to partially prepare mentally. I say, partially, because as I got closer to finalizing my decision I was provided encouragement and really good advice from a small network of family, friends, and colleagues.

I was also fortunate to be working during this time which provided time to prepare financially for my next step.

I ultimately realized life is short, sometimes too short, and the regret I would have if I did not give starting my own company a real chance would continue to hang over me for the rest of my life.

💡As I wrote this article, it became more apparent to me that getting these thoughts down helped provide more closure and refine the vision of Luminary Energy. I’d encourage anyone making a large decision like this to spend the time to consider the journey that led to the moment and take inventory of the whys. Whether you make it an article or leave it in your journal is up to you.

I founded Luminary Energy, LLC in September 2023. Luminary Energy offers clients unique insights into energy markets including deep knowledge of electricity and renewables. This includes a deep understanding of market structures, pricing mechanisms, and trading strategies. There is much to do in setting up a new company.

The corporate structure, insurance, bank accounts, and bookkeeping processes for Luminary Energy are up and running. The company email is set up and the website is under development. I continue to think about the core principles of Luminary Energy. I believe clarity on the company’s principles is especially important to guide public comments on critical issues such as energy policies. (More on that in a future article.) Luminary Energy is also working to formalize contracts with several clients.

💡 The best piece of advice I received during this transition was to take the time to reset. You can imagine how 25 years in various corporate roles have created habits, both good and bad, that needed a reset. I left my corporate job on August 31, 2023 and started working to form Luminary Energy in September. There were a few potential clients that reached out quickly and I performed some tasks for them, but I spent most of September and October reimagining my schedule, work-life balance, and connecting with folks that I haven’t seen or talked with in years. A much-needed reset.

If you told me in January that I’d be running my own company before the end of the year, I would have told you that is ridiculous. And as ridiculous as that is, I sit here today with no regrets and a tremendous amount of opportunity in front of me.

If you are thinking about taking that next BIG step, I implore you to take inventory of your whys. Just like it helped me, that exercise just might help you take the leap and avoid your regrets.