If we were part of a federally regulated system, wed probably still be asking for permission to do some of the things weve already implemented in place for this winter. Jones defended the design of Texas electricity market and power grid. April 27 (Reuters) - Brad Jones has been elected interim president and chief executive officer of the Texas grid operator ERCOT, its board said on Tuesday, filling the She was named Director of Enterprise Risk Management and Strategic Analysis in December 2013,where she focused on providing the leadership and management necessary to identify, evaluate, mitigate, and monitor the companys operational and strategic risk, leading ERCOTs strategic and business planning processes, and providing guidance for the ERCOT governance process, especially as it relates to Market Rules. Andrew Cuomo set out an ambitious goal to shift power generation in the state to 50% renewable by 2030. DETAILS BELOW. Chad V. Seely is Senior Vice President, General Counsel, and Corporate Secretary for ERCOT and has been serving as General Counsel since January 1, 2016. Those preparations can mean installing more insulation, building structures around facilities to protect equipment and using thermal blankets to keep equipment from freezing, he said. And theres another point on Jones rsum that should give Texans confidence in him. Jones has also It should give you great confidence that were managing this grid in a much more reliable way. ERCOTs previous chief executive was fired following the storm, and every commissioner serving on the Public Utility Commission resigned as well, Jones said. The Electric Reliability Council of Texas hired an old hand as its interim chief executive. 1996-2023 Electric Reliability Council of Texas, Inc. All rights reserved. Jones has also previously served as president and CEO of the New York Independent System Operator from October 2015 to October 2018. Additionally, he spent time in Washington, DC working in the Majority Leaders office and the Committee on Ways and Means. At that rate, ERCOT might finally be finished paying for this years outages by the end of the century. ERCOT Verified account @ERCOT_ISO. Dominic Anthony Walsh covers education & families for Houston Public Media's enterprise team. And he said an important component of better communications is better relationships with the Public Utility Commission, the Texas Division of Emergency Management, the Railroad Commission, which regulates production of natural gas often used in power generation, and others. Dr. Tamby has more than 25 years of experience in the electric power industry, including about 15 years in leadership roles. Mrs. Hobbs joined ERCOT in 2002 after serving for two years as a Senior Retail Market Analyst for the PUCT,where she worked with the Commission to implement policy in the Texas electric industrys transition to competition. Brad Jones, former head of New Yorks power grid, is the leading candidate to replace Magness as Ercots new CEO, according to people familiar with the boards thinking. Peak demand for electricity during the freeze reached nearly 10 megawatts above what ERCOT forecast. There is no recent news or activity for this profile. ERCOT is a council of experts and executives from across the energy spectrum, including power generators, electricity retailers, natural gas pipeline operators, big, corporate consumers, and academics. After so many angry Texans became armchair electricity experts on social media during the February freeze, this state could use some tethering to reality. Magness is leaving as ERCOT faces a $2.5 | Trust with electricity companies, trust with lawmakers, and trust, most crucially, with regular Texans. Before joining AEP, Mr. Black served as Texas Governor Rick Perrys Press Secretary and Communications Director from 2003-2008, and also worked as a Senior Communications Advisor for Greg Abbott during his 2002 and 2014 campaigns, respectively. Vice President, System Planning and Weatherization. The agency is also focusing on improving its communications so that customers get a single message and not four or five messages that are conflicting from their energy provider and the state, he said. Mr. Rickerson is responsible for guiding new, in-depth generation inspections and coordinating enforcement actions with the Public Utility Commission. Get smart opinions on the topics North Texans care about. Were going to have all new board members, theyre going to meet a certain criteria, theyre going to be able to make tough decisions on the spur of the moment.. She has over 20 years of experience in the electric industry. They resigned because legislatively, we said, heres what were going to do. Generators, the grid operator and politicians have clashed over who is to blame, pointing fingers at power plants that didnt prepare for winter, Texass highly deregulated power market, frozen natural gas wells and issues with the grid itself. Fri, Mar 18 2022 6:26 PM EDT. Brad Jones, interim CEO of ERCOT, explains how the power grid partners with crypto mining facilities within Texas to manage energy demand. Prior to ERCOT, Mr. Vegas was Executive Vice President of NiSource, and Group President of NiSource Utilities, where he oversaw NiSources electric and gas business segments and championed outstanding service to NiSource customers. On Tuesday night, Jones tuned in virtually for a town hall with voters and Republican officials based in Tarrant County. Mr. Vegas currently serves on the board of directors at Northwest Bancshares, Inc. Mr. Vegas attended the Advanced Management Program at Harvard Business School, completed the AEP Strategic Leadership program at the Ohio State University, and graduated cum laude from the University of Michigan with a BS degree in mechanical engineering. He graduated from South Texas College of Law in 2002 and earned awards in South Texas esteemed advocacy program. She joined ERCOT in 2015 as Director of Total Rewards and Systems and was responsible for the companys compensation, benefits, human resources systems, and corporate payroll. Before joining ERCOT, Mr. Taylor spent seven years in the finance department at the Lower Colorado River Authority. Elizabeth is an editor on the breaking news desk. To View The Rest of This Article Please Visit kvue.com She earned bachelors degrees in mathematics and physics from Berea College in Kentucky and attended graduate school at the University of Kentucky. He served as a versatile executive at NiSource for six years, holding numerous roles, including Chief Operating Officer, Executive Vice President and President of Columbia Gas Group, and Chief Customer Officer. Other companies went bankrupt and continue to struggle because their power plants shut down because of the low temperatures, he added. Her current responsibilities include Security (Cyber and Physical), Compliance, and Facilities. If Ercot cannot come up with financing to cover the underpayments, the debt could end up being shared by everyone in the Texas market, including consumers. Unlike other states, which are connected to power grids on either the western or eastern side of the country, electricity in Texas is generated and used only within state lines. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. Enough jargon, he said, we have to speak in very clear terms.. Jones was formerly a top executive at ERCOT before leaving to head up the grid operator in New York. From 2013 until 2018, Mr. gelman served on the Gulf Coast Power Associations (GCPA) Board of Directors, including presiding as Vice President in 2014 and President in 2015. All rights reserved. See here for a complete list of exchanges and delays. Brad Jones, the interim chief executive of the Electric Reliability Council of Texas, has been a busy man since taking over the troubled agency last May. Her position is supported by a grant fromthe Marilyn Brachman Hoffman Foundation. The scene in North Austin on Feb. 16, 2021, following the devastating winter storm. The unprecedented outages caused as much as $129 billion in economic losses. Notifications can be turned off anytime in the browser settings. First, he said, ERCOT needs stabilizing, the company itself and the market participants. In her role, Mrs. Hobbs oversees ERCOT relations with the Public Utility Commission of Texas (PUCT), enterprise risk management, strategic analysis, project and portfolio management, as well as ERCOT, Inc. business continuity planning. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. He brings the right combination of ERCOT knowledge and broad industry expertise needed to provide the stability and reliability that Texans expect and deserve.. So far, 125 deaths across the state have been attributed to the storm and power outage. He also worked in various executive-level capacities at TXU Energy, Luminant and parent company Energy Future Holdings.During the 1999 Texas legislative session, he participated in TXUs activities before the Texas Legislature to restructure the electric industry and allow customers to choose their electric suppliers. WebAs of 2022, Brad Joness net worth is $100,000 - $1M. She is a former opinion editor on the editorial board and energy reporter for the business section. RELATED: Death toll from Texas winter storms rises once more to 125 people, D-FW victims now total 12. He replaces Brad Jones, who led the organization as its interim-CEO following the February 2021 winter storm, when Texans across the state lost power and hundreds of people died. Mr. Rickerson brings a considerable amount of electric industry experience to his position, including more than 19 years at ERCOT in various roles. Mr. Vegas had profit and loss accountability for NiSources six gas and electric utility companies as well as responsibility for strategy, planning, operations, construction, engineering, regulatory, environmental services, and federal government affairs for NiSource. Vice President, Corporate Strategy and PUC Relations. Peter Cramton, who resigned as vice chair of the ERCOT board after the outages, said one of incoming CEO Brad Jones major challenges will be communicating the need to weatherize the supply of natural gas. The Texas Legislature is considering bills to allow ERCOT to securitize the IOUs, and Jones acknowledged that could put the grid operator in the unusual position of issuing bonds. Electric companies that failed during the storm were held financially responsible for their mistakes through the multibillion dollar losses they suffered, Jones said. Jones responded that meeting this goal would require an enormous investment in 1,000 miles of transmission lines, which could take many years to build. Jones was once Ercots chief operating officer, and is a Texan. He played a key role in the development of ERCOT energy and market systems, as well as risk management and strategic planning. (This extreme rate was sustained by the Public Utility Commission for days to try to incentivize power plant owners to get their plants working and back online, and the high rate ended up pushing some retailers into bankruptcy.). Mr. Taylor has a BBA from the University of Michigan. ERCOT ousted Bill Magness as CEO in March after a February winter storm caused widespread blackouts across Texas, a state unaccustomed to extreme cold, leaving residents without heat, power or water for days. AUSTIN, TX On April 27, the ERCOT Board of Directors announced their selection of Brad Jones as the new interim President and CEO, effective May 4, 2021. We have to make sure we go about it the right way so that were attracting the right types of (power) generation to meet the needs of our customers every day.. Power move: ERCOT appoints Brad Jones as interim president/CEO in wake of Magness termination by: Russell Falcon. In her role, Ms. Spak oversees all people functions at ERCOT and develops and oversees strategic human resource planning to provide the company with the best talent while also positioning ERCOT as a premier employer. AUSTIN (CBSDFW.COM) - The Public Utility Commission of Texas today named Adrianne Brandt the agency's new Director of ERCOT, Inc. Brad Jones will fill the role in an interim capacity in early May. **Please note** If you are already signed up for the newsletter, you do not need to sign up again. Brad Jones Summary Overview CB Rank (Person) 23,869 Primary Job Title Senior Vice President and Chief Operations Officer Primary Organization ERCOT Gender Prior to becoming President and CEO of the New York ISO, Brad served as Senior Vice President and Chief Operations Officer for the Electric Reliability Council of Texas. Got an opinion about this issue? See here for a complete list of exchanges and delays. It was championed by Magness, who is leaving just as the first stages are rolled out. He graduated from Boston University in 1987 with a BA in international relations. Brad Jones will fill the role in an interim capacity in early May. Posted: Apr 27, 2021 / 02:41 PM CDT. Jones comes on board at a time of intense scrutiny for the grid operator, following the February winter storm and power outages that affected the entire state. Subchapter M Default Balance Securitization, Subchapter N Uplift Balance Securitization, Proposed Brazos and ERCOT Bankruptcy Settlement, Independent Market Information System Registered Entity, Transmission/Distribution Service Providers, Access registration forms and other documents >, Market Coordination Team for Texas SET Version Releases, Texas Data Transport and MarkeTrak Systems Working Group, Texas Standard Electronic Transaction Working Group, Performance, Disturbance, Compliance Working Group, Planning Geomagnetic Disturbance Task Force, Protocol Interpretation Request Submission Process, Texas Standard Electronic Transaction Guides, Aggregate Distributed Energy Resource (ADER) Pilot Project, 30-Minute Emergency Response Service - Completed, Fast Responding Regulation Service - Completed, Weather-Sensitive Emergency Response Service - Completed, Other Binding Documents Revision Requests, Backcasted (Actual) Load Profiles - Historical, TDSP Distribution Loss Factors - Methodology, IDR Protocol Compliance Verification - Historical, Executive Employment Agreement between ERCOT and Pablo Vegas, Texas Tribune Request for Employment Contracts with ERCOT Interim CEO Brad Jones, Resource Integration & Ongoing Operations Resource Services. Jayapal Parakkuth has over 25 years of experience in successfully visualizing, designing, and implementing software solutions to various aspects of power system grid control. Betty Day was named Vice President of Security & Compliance and Chief Compliance Officer in 2019 after serving in various executive roles since 2011. Previously, Brad was a Director, Information Technol Read More They were basically from the industry and had to determine at certain points: Do I do whats best for ERCOT or, you know, where Im getting a paycheck?. The board of directors gave CEO Bill Magness a 60-day termination notice in early March, weeks after the deadly storm. Mara Spak is Vice President of Human Resources at ERCOT. He acknowledged that the matter of $3 billion in unpaid bills for power market trades will need to be settled. Magness is being terminated without cause, a spokesperson said, making him eligible for a severance of one-years current salary, according to his employment agreement. Read more about our editorial independence policyhere. Get highlights, trending news, and behind-the-scenes insights from Houston Public Media delivered to your inbox each week. The Texas Public Utility Commission chair followed suit March 1. While Jones was in New York, Gov. During her tenure at ERCOT,she has served in various roles focused on developing relationships both internal and external to the organization. They took until November to send us a list of recommendations for how to deal with the cold weather from Uri, Jones said. During his time at Siemens, he served as the Lead Architect for delivering mission-critical solutions to ISO/RTOs, like PJM and CAISO. According to the release, Brandt will be assisted by fellow Texan Brad Jones, who previously served as chief operations officer of ERCOT. Jones was formerly a top executive at ERCOT before leaving to head up the grid operator in New York. Prior to joining NiSource, Mr. Vegas held a variety of senior executive positions with American Electric Power (AEP), including President and Chief Operating Officer of AEP Ohio, President and Chief Operating Officer of AEP Texas, and Vice President and Chief Information Officer of AEP. Unfortunately, he said, ERCOTs push for affordability over reliability finally caught up to it in February 2021. Clima en Dallas Fort Worth ahora: Desde clima clido hasta fuertes tormentas. He wasnt ready to say if he is leaning to one idea or another. However, Magness has told Ercots board he wont seek or accept a severance, according to a statement. Mr. Taylor has more than 20 years of finance experience in various roles. Prior to joining ERCOT in 2003, he led various generation and transmission planning activities at Central and Southwest Services, Reliant Energy, and West Texas Utilities. ERCOT and the Public Utility Commission of Texas, the regulator which oversees the grid operator, raised power prices to about 400 times the normal rate over five days. Greg Abbott. Tags electricity grid ercot Texas Legislature Texas power grid winter freeze. By, How the ongoing drought impacts the Hill Country, Gulf of Mexico warming at faster rate than global ocean, study finds, Bills make their way to committees at the Capitol this week, the first step toward possible passage, Why hurricanes feel like they're getting more frequent. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. He also previously served as the Vice President for Grid Control at Omnetric Group, which was formed as a joint venture between Siemens and Accenture to drive IT/OT convergence in the power industry. He is currently responsible for the strategic vision, planning, and leadership of the Finance, Human Resources, Enterprise Architecture, Market Rules and Stakeholder Support, Project Management, Strategic Planning, Enterprise Risk Management, Portfolio Management, and Business Continuity functions. By Hannah Brol AUSTIN, Texas Updated at 5:27 p.m. with a statement from the interim CEO. Contact herby emailor viaTwitter. ERCOT doesnt have the power to mandate major changes. The so-called passport program will increase the reliability of renewable energy through battery storage, among other initiatives. Jones comes to ERCOT at a pivotal juncture not just because of the fallout from the winter outages, but also because of a slate of major new programs and market rules designed to modernize the grid. Texans can be confident that the grid is more prepared than ever before, he added. Texas lawmakers could change that, Heres everything you need to know about school vouchers in Texas, Texas Education Agency denies reapproval for Houston special education school Avondale House, adding strain to underfunded system. Industry insiders will be pounding on his door, but he should seek counsel from consumers, city emergency officials, health professionals and environmental experts, too. This caused some friction with the governors office, and Jones soon returned to Texas. This years storm was far worse, and ERCOT needs to look at weatherization planning. The Electric Reliability Council of Texas' board of directors on Tuesday appointed Brad Jones as interim president and CEO. He also served as the president and CEO of the New York Independent System Operator from October 2015 to October 2018. Jones did not address the litigation during the town hall. That represents money owed by wholesale buyers to power generators who sold electricity at the market cap rate during the freeze. His exit comes days after the head of the states utility regulator stepped down after receiving withering criticism by state lawmakers during hearings last week. He played a key role in the development of ERCOT energy and Categories 2023 Fortune Media IP Limited. He has lived in Austin since 2002 and is happily married with two daughters. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. Ms. Day joined ERCOT in 2000 and has more than 30 years of experience in the electric power industry. Elizabeth Souder is commentary and Sunday Opinion editor and a member of the editorial board. Haley Samsel is the environmental reporter for the Fort Worth Report. The development of those rules was really done by a broad group of diverse participants in the marketplace, including consumers, Jones said. She is also responsible for ERCOT Market Rule development and facilitating the ERCOT stakeholder process. Mrs. Hobbs graduated from Texas A&M University in 1998 with a BS in agribusiness and earned an MSc in agricultural economics from Texas A&M University in 2000. ERCOT, still reeling from criticism over its handling of the record winter freeze, announced last week that it hired Jones, 58, as interim chief executive for up to one year as the company conducts a search for a permanent leader. The interim CEO of the Electric Reliability Council of Texas (ERCOT) has publicly revealed hes pro-Bitcoin. Dr. Tamby has a bachelors degree in electrical engineering from Anna University in India, and masters and doctorate degrees in electrical engineering from Queens University in Canada. In March 2019, she transitioned to editor of the Spring/Klein edition and later became the editor of both the Spring/Klein and Lake Houston/Humble/Kingwood editions in June 2021. We're in the process of transitioning services for our Today in Houston newsletter. Previously, Mr. gelman worked as a Senior Economist for the Texas Office of Public Utility Counsel, which represents residential electric consumers in Texas, from 1997 to 2007. Dan Woodfin is ERCOTs Vice President of System Operations. April 27 (Reuters) - Brad Jones has been elected interim president and chief executive officer of the Texas grid operator ERCOT, its board said on Tuesday, filling the gap left by the previous CEO who was ousted in the wake of a deadly blackout in February. His previous experience within ERCOT includes serving as Chief of Staff and as Interim Chief Operating Officer. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. Earlier this month, ERCOT reported more than 300 inspections of power generating facilities, which take natural gas supply and other power sources and turn it into electricity for the grid. 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