Lathrop Craig is senior vice president and chief commercial officer, effective July 2022. He is currently leading PSEG’s offshore wind ventures, which include partnerships in multiple generation and transmission development projects in the Mid-Atlantic region. In addition, he is responsible for PSEG Energy Resources & Trade and other commercial development functions.
Prior to his current role, Mr. Craig was vice president – development. In addition, he was vice president – ISO Operations at PSEG Energy Resources & Trade where he was responsible for PSEG’s power portfolio management functions in PJM, New York and New England.
Previously, he was vice president – Risk Management and chief risk officer where he was responsible for PSEG’s power commodity risk management oversight, implementing corporate risk management strategy and evaluating and addressing risk across all PSEG businesses.
In addition, Mr. Craig has served as vice president – PSEG Energy Holdings Finance and vice president – Corporate Planning and Analysis. In this role, he was responsible for valuation and corporate planning and led the finance teams supporting Energy Holdings and the Services Corp., as well as supporting the Services Corp.’s executive leadership.
Mr. Craig first joined PSEG in 2000, serving in generation and corporate development roles. In 2007, he left PSEG to serve as vice president – Marketing and Development for Astoria Energy. In 2008, Mr. Craig returned to PSEG as director – Strategy, Planning and Development for PSEG Power. Previously he served as a qualified nuclear engineering officer in the U.S. Navy.
Mr. Craig graduated from Colgate University with a bachelor’s degree in physics and holds a master’s degree in electrical engineering from Rensselaer Polytechnic Institute and an MBA from Cornell University.
Mr. Craig is a member of the board of Saint Elizabeth University in Florham Park, New Jersey, serving on the Finance and Development committees. Previously, he served as a board member of the Madison Community Pool in Madison, New Jersey, from 2004 to 2018, and served multiple terms as both treasurer and president from 2007 to 2018.
New Jersey has ambitious targets for 7.5 GW of offshore wind by 2035 as part of the state’s masterplan to transition to 100% clean power by 2050. With major companies such as Ørsted and PSEG already working in New Jersey, developing the 1.1 GW Ocean Wind 1 project, and Ocean Wind 2 fast on its heels, we examine the investment opportunity in New Jersey.