About Jorge Carrasco
Professional Summary:
When former Seattle Mayor Greg Nickels appointed Jorge Carrasco to lead Seattle City Light in late 2003, the utility ranked 11th in customer service among medium-sized Western U.S. utilities, according to a J.D. Power and Associates annual survey. Under Mr. Carrasco's guidance, Seattle City Light has risen to fourth in customer service. Hired to reduce debt, increase financial stability, build cash reserves, and ensure affordable rates, Jorge Carrasco has boosted ratepayer satisfaction through a variety of efforts over the past seven years.
During the initial five years of Jorge Carrasco’s administration, charges for electrical services to Seattle City Light residential customers declined 12%. Rates fell 8.4% in 2007 alone, the biggest reduction the city’s ratepayers had seen in 35 years. The management team under Mr. Carrasco's direction retired the organization’s short-term debt entirely, and long-term debt by close to $300 million. These debt retirements, totaling $550 million, lowered Seattle City Light’s debt-to-capitalization ratio from 85 to 62%, which nearly reached the company’s ultimate goal of 60%. The company has borrowed no further money since 2004, and in 2005 Jorge Carrasco spearheaded the establishment of an emergency cash reserve fund of $25 million. Superintendent Carrasco pursued an aggressive hiring policy to fill vacancies in the organization with skilled professionals, and by the close of 2007, Seattle City Light had cut its vacancy rate by almost two-thirds, from 14% to 5%.
Seattle City Light has had an unwavering commitment to green policies under the leadership of Jorge Carrasco. Seattle City Light has been greenhouse neutral since 2005, making it the first and only electrical utility in the United States to attain that goal. To support the health and survival of fish and wildlife, Mr. Carrasco assisted the organization in adding habitat protection along the Skagit River. Customers of Seattle City Light have enthusiastically participated in conservation efforts directed by Jorge Carrasco, reducing their own bills by $53 million in 2009.
Jorge Carrasco came to Seattle following executive positions with American Water Services, the East Bay Municipal Utility District in the Bay Area, and the Cities of Scottsdale, Arizona, and Austin, Texas. He enjoys running, hiking, and attending the theater in his free time.
Professional Experience:
Seattle City Light
Cheif Executive
Electric Utility
2004 - Present
Education:
St. Edward's University
MBA
1981 - 1984
Interests:
Running, Photography, Hiking, Reading, Theatre
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