Jones, who worked for Texas energy companies and in senior roles at ERCOT before leading New York states power grid operator as president, takes Terms & Conditions. Jones will serve beginning May 4. She has over 20 years of experience in the electric industry. Second, he plans to improve communication. All rights reserved. In an effort to rebuild trust following the near-collapse of Texas power grid during last Februarys winter storm, Jones has traveled across the state to hold listening sessions everywhere from Odessa to Frisco. 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. Magness is leaving as ERCOT faces a$2.5 billion shortfallin payments from retail power providers and others after electricity prices skyrocketed during the energy crisis. He has over 35 years of experience in the electric energy industry. Mr. Seely also oversees the ERCOT Reliability Monitor function which assesses ERCOT and ERCOT Market Participant compliance with Texas electric reliability laws under the direction of the Public Utility Commission of Texas. But one thing the crisis does is it opens the opportunity for, I would hope, the legislature and the PUC and the Railroad Commission to understand that there is a serious issue here with gas supply, and now it needs to be solved.. The Texas legislature oversees all of the organizations, and its efforts to mandate weatherization have stalled. We manage the flow of electric power to more than 26 million Texas customers -- representing 90 percent of the state's Mara Spak is Vice President of Human Resources at ERCOT. Brad Jones (born April 1, 1986) is famous for being football player. He has a long history of service in both the electric and gas industries. Prior to joining ERCOT, he served as Principal Key Expert for Grid Control at Siemens Digital Grid, specializing in delivering high-risk, complex projects working with both the product and delivery organization at Siemens. See here for a complete list of exchanges and delays. Enough jargon, he said, we have to speak in very clear terms.. 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The ERCOT board of directors selected its interim president and CEO Tuesday after the 60-day period following the firing of Bill Magness in March in the wake of February's winter storm. Too bad for New York, because a grid executive who can tether political ambitions to physical reality is an asset. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. April 27 (Reuters) - The board of ERCOT said on Tuesday that Brad Jones has been elected to serve as interim president and chief executive officer for the Texas State Sen. Kelly Hancock and state Rep. Giovanni Capriglione also answered questions read by County Commissioner Gary Fickes. Vice President, Security & Compliance and Chief Compliance Officer. Ms. Day joined ERCOT in 2000 and has more than 30 years of experience in the electric power industry. Dominic Anthony Walsh covers education & families for Houston Public Media's enterprise team. All of those members lived out of state, records show. Jones has also Mr. Taylor has a BBA from the University of Michigan. 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. He didnt immediately respond to a LinkedIn message. The ERCOT board is deciding which of eight executive search firms that submitted proposals will handle the search for the permanent replacement, the organization said in a release. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. The Commission named Adrianne Brandt director of ERCOT Inc. accountability, and former ERCOT COO Brad Jones will assist her in a consultant role, the PUC said March 11. During the committee hearings held by state legislators last spring, Hancock said he was disturbed by the clear conflicts of interest on the Public Utility Commission, which regulates telecommunications, water and electric utilities across Texas. Mr. Seely has been with ERCOT since May 2005. Betty Day was named Vice President of Security & Compliance and Chief Compliance Officer in 2019 after serving in various executive roles since 2011. It was championed by Magness, who is leaving just as the first stages are rolled out. 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. 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. But some of the biggest threats to the grids stability are outside of ERCOTs control. | 2023 Fortune Media IP Limited. Jones' appointment is effective May 4, and will last until the position is filled, up to a year, according to ERCOT. He said ERCOT and Brad Jones have roles to play as messengers, but that they alone cannot prevent another power failure. She is a former opinion editor on the editorial board and energy reporter for the business section. 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. 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. 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. Prior to joining ERCOT, Mr. Seely was an attorney at the Texas Department of Insurance, working on enforcement matters against insurance agents and companies before the State Office of Administrative Hearings (SOAH) and the Commissioner of Insurance. Death toll from Texas winter storms rises once more to 125 people, D-FW victims now total 12, Terminated ERCOT CEO says he won't seek or accept severance pay, Its all connected: How Februarys power outages knocked out natural gas wells, Simple fix to prevent future electric outages has yet to be mandated by the Texas legislature, Sen. Cornyn and Rep. Johnson introduce bipartisan bill to strengthen, winterize Texas power grid. 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. Magness hasdefendedthe grid operators decision to call for the largest forced poweroutagein U.S. history, saying Texas came within seconds and minutes of catastrophic grid failures. Other companies went bankrupt and continue to struggle because their power plants shut down because of the low temperatures, he added. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. Pablo Vegas joined ERCOT in October 2022 as President and CEO. Jones was formerly a top executive at ERCOT before leaving to head up the grid operator in New York. 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. MacKenzie Sigalos. Your subscription will be migrated over. Kristi Hobbs is ERCOTs Vice President of Corporate Strategy and PUC Relations. Jones was once Ercots chief operating officer, and is a Texan. While with NiSource, he was also chairman on the board of directors for One Columbus and a board of trustees member for the American Gas Foundation. Brad Jones is an Interim President & Chief Executive Officer at Ercot based in Taylor, Texas. He was active with the Texas Reliability Entity, Edison Electric Institute and the FutureGen Industrial Alliance. Notifications can be turned off anytime in the browser settings. Prior to joining ERCOT, he served as Vice President of External Affairs for AEP Texas. Why would a CEO in his 50s retire? 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. Power move: ERCOT appoints Brad Jones as interim president/CEO in wake of Magness termination by: Russell Falcon. 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. The states utilities cant expect a once-in-100-year storm every year, but ERCOT must ensure its ready for the next one, Jones said. Algorithmic rank assigned to the top 100,000 most active People, The organization associated to the person's primary job, Total number of current Jobs the person has, CB Rank (Hub): Algorithmic rank assigned to the top 100,000 most active Hubs, Total number of events the individual appeared in, Senior Vice President and Chief Operations Officer. 1996-2023 Electric Reliability Council of Texas, Inc. All rights reserved. In a post-storm legislative hearing, Magness responded to one lawmaker who asked, How can we do better? by saying, Yall made us. Haley Samsel is the environmental reporter for the Fort Worth Report. Im not sure being connected to a bigger grid would actually have less chance of causing a problem, Capriglione said. Before his career in the regulated utility industry, Mr. Vegas served in senior leadership positions with IBM, PricewaterhouseCoopers, and Andersen Consulting. All Rights Reserved. Greg Abbott. Her current responsibilities include Security (Cyber and Physical), Compliance, and Facilities. 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. Third is better dialogue on needed technical changes in the power market and ERCOT. If you'd like to sign up now, fill out the form below and we will add you as soon as we finish the transition. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. Elizabeth Souder is commentary and Sunday Opinion editor and a member of the editorial board. 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. I expect for that plan to be very specific and very aggressive, he said. Mr. Seely oversees state and federal policy and manages the overall litigation strategy of ERCOT. The industry leader for online information for tax, accounting and finance professionals. More than 400 Texans have filed 170 lawsuits against utility companies and ERCOT over the blackouts that killed hundreds of people over the course of a week. Below the Waterlines: Houston After Hurricane Harvey, This story originally appeared on Texas Public Radio, A plan to overhaul the Texas grid has set up a showdown at the state Capitol, State regulators approve controversial Texas electricity market reform, State agency that oversees Texas power grid needs more money to do its job, Sunset Commission finds, Decembers freeze highlighted ongoing weaknesses of Texas power grid, even without widespread blackouts, Santa Fe High School shooter remains mentally incompetent to stand trial, further dragging on 5-year-old case, Santa Fe shooting survivor Trey Louis tugs at judges heartstrings on American Idol, Houston remains one of the most affordable big cities in the U.S., even if it no longer feels like it, Bun B announces part of RodeoHouston Southern Takeover lineup, DPS sent at least 3,000 drivers licenses to organized crime group targeting Asian Texans, As Texas STAAR test goes fully online, teachers feel defeated, Texas Education Agency projects confidence, No accountability: Kids in special education are routinely restrained. Vice President, System Planning and Weatherization. According to his LinkedIn page, he left for retirement after three years. The Electric Reliability Council of Texas Board of Directors has selected Brad Jones to serve as interim president and CEO. Ercots chair and four other directors resigned Feb. 23, while two other board members resigned in the following days. Prior to CI, Hannah served as associate editor of The Houstonian, interned with Community Impact Newspaper and spent time writing for the Sam Houston State University College of Fine Arts and Mass Communication and The Huntsville Item. He graduated from Boston University in 1987 with a BA in international relations. 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. Trust with electricity companies, trust with lawmakers, and trust, most crucially, with regular Texans. ERCOT announced that four of its board members resigned Wednesday, Feb. 24 following its board meeting, and a fifth board member separately submitted her resignation. WebIf the problem persists, contact the ERCOT Service Desk at ServiceDesk@ercot.com or 1-866-870-8124. Brad Jones will fill the role in an interim capacity in early May. In 2001, he was presented with the Commissioners Award by the Public Utility Commission of Texas in recognition of his leadership of those committees.Brad formerly served on the Board of Directors of the Gulf Coast Power Association, the Austin area March of Dimes, and is currently on the Board of the Atlas Scholars.Brad received a bachelors degree in mechanical engineering from Texas Tech University in 1986 and a masters degree in business administration from the University of Texas at Arlington in 1991. Vice President and Chief Information Officer. August 8, 2022 Executive Employment Agreement. Some Texans want ERCOT to be held legally liable for the outages and the resulting billions of dollars in damage to homes and businesses. Brad Jones, Ercots interim chief executive officer, is aware hes walking a fine line. He played a key role in the development of ERCOT energy and 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. Dozens of insurance companies have also filed suit. He spent years developing generation and working with regulators for TXU, and he spent years in top roles at ERCOT. 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. His work examines the institutions and policies affecting millions of students and families across Texas, with a focus on Houston home to the largest school district in the state. 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. Dow and X-energy to build U.S. Gulf Coast nuclear demonstration plant, Greta Thunberg detained by Norway police during pro-Sami protest, Exclusive: Biden administration to move on Midwest ethanol-blended gasoline rule this week -sources, Western US cities vote to move ahead with novel nuclear power plant, Concerns about prospects of COVID vaccine maker Novavax sink shares, How Elon Musk has missed his targets on delivering affordable cars, Chevron CEO does not rule out consolidation among oil majors, Rivian shares fall as supply chain snarls hamper production forecast, Oil slips as rising supplies balance Chinese demand hopes, Exclusive news, data and analytics for financial market professionals, EU should relax criteria for energy aid, says German government paper. 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. 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. Powered and implemented by Interactive Data Managed Solutions. Our Standards: The Thomson Reuters Trust Principles. FORTUNE may receive compensation for some links to products and services on this website. Senior Vice President and Chief Administrative Officer, Chief of Staff. Mr. Taylor has more than 20 years of finance experience in various roles. This op-ed is part of a series published by The Dallas Morning News Opinion section to explore ideas and policies for strengthening electric reliability. 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?. In that role, he was responsible for managing CPS Energys activities at ERCOT and the Public Utility Commission of Texas (PUC) and developing strategic policy. Dan Woodfin is ERCOTs Vice President of System Operations. Tags electricity grid ercot Texas Legislature Texas power grid winter freeze. WebPublic Utility Commission of Texas 1701 N. Congress, P.O. For example, power plants were weatherized this winter, but for the ice storm of 2011, he said. Prior to joining ERCOT in October 2015, Mr. gelman served as the Director of Energy Market Policy for CPS Energy. Instead, Jones said in an interview with The Dallas Morning News that he will start by rebuilding trust. Box 13326, Austin, TX 78711-3326 Fax 512-936-7003 News Release Contact: Andrew Barlow March 11, 2021 media@puc.texas.gov Fri, Mar 18 2022 6:26 PM EDT. Prior to working at LCRA, Mr. Taylor was a consultant performing mergers and acquisition advisory services at PricewaterhouseCoopers in New York City. Jones was elected to serve until the position has been permanently filled, up to a term of one year, effective May 4, the Electric Reliability Council of Texas board said in an emailed statement. She is also responsible for ERCOT Market Rule development and facilitating the ERCOT stakeholder process. Get highlights, trending news, and behind-the-scenes insights from Houston Public Media delivered to your inbox each week. 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. 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. 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.. 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. Creating the original set of protocols that everyone could live with was surely good training for updating those protocols now. On one hand, there have been six times in the past year that using RUCs have enabled the operator to avoid declaring grid emergencies. Dominic Anthony Walsh can be reached at Dominic@TPR.org and on Twitter at @_DominicAnthony, Texas Public Radio | It crippled oil and gas production, and dozens of people died. Brad Jones of Liberty Hill is the Interim CEO of ERCOT. Potomac Economics, which monitors the state's power market, said in March that ERCOT kept market prices too high for more than a day after widespread outages ended. They didnt meet the needs of either their customers or the state of Texas, and they faced penalties associated with that, financial penalties, Jones said. 2005-2022 Community Impact Newspaper Co. All rights reserved. Send a letter to the editor and you just might get published. Lake and interim ERCOT CEO Brad Jones have been routinely describing the procurement of massive amounts of reserve capacity, even when they arent needed, as conservative. (now worth $600-$800 million per year) to storage that can sustain for 4 hours. 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. Jones served as ERCOT vice president of commercial operations from April 2013 to December 2014 and as senior vice president and chief operating officer from January 2015 to October 2015, the statement said. He brings the right combination of ERCOT knowledge and broad industry expertise needed to provide the stability and reliability that Texans expect and deserve.. 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. LinkedIn has officially entered its cringe era, and its working. Mr. Seely grew up in Irving, Texas, and received Bachelor of Arts degrees in Political Science and French from Texas Tech University in 1999. 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. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. Brad Jones, UT Arlington alumnus, will be working on ERCOT accountability at the Public Utility Commission of Texas, The Texas Energy Report, KVUE ABC 24 and KTVT CBS 11 reported. While Jones was in New York, Gov. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. At the Fort Worth Report, news decisions are made independently of our board members and financial supporters. Texas Governor Greg Abbott had called for board members and other leaders to step down in the wake of the crisis. Jones was formerly a top executive at ERCOT before leaving to head up the grid operator in New York. 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? Hancock, who represents portions of Tarrant and Dallas counties, said. If you value our commitment to the highest standards of responsible journalism and are able to do so, please consider making your gift of support today. (Courtesy Public Utility Commission of Texas), Editor, Spring/Klein & Lake Houston/Humble/Kingwood. That represents money owed by wholesale buyers to power generators who sold electricity at the market cap rate during the freeze. Brad Jones, UT Arlington alumnus, will be working on ERCOT accountability at the Public Utility Commission of Texas, The Texas Energy Report, KVUE ABC 24 and WebAs of 2022, Brad Joness net worth is $100,000 - $1M. Jones most recent job was chief executive of the New York Independent System Operator, which, similar to ERCOT, operates the New York state electrical grid. Mr. Parakkuth has a masters degree in power systems and power electronics from the Indian Institute of Technology Bombay, and an MBA in information systems and finance from the University of Minnesota. 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. Jones was formerly a top executive at ERCOT before leaving to head up the grid operator in New He plans to do this by talking to electricity companies, regulators and lawmakers to understand what they need, and, in the next month, presenting a 100-day plan. Once a saver, always a saver: Warren Buffett says generational wealth isnt what it used to be in his annual letter Its bigger than the housing crisis: An influential economist just blamed NIMBYs for American decline, and Elon Musk CA Notice at Collection and Privacy Notice, Do Not Sell/Share My Personal Information. Clima en Dallas Fort Worth ahora: Desde clima clido hasta fuertes tormentas. Prior to joining ERCOT, she worked in hi-tech and healthcare industries. Hannah covers education, local government, transportation, business, real estate development and nonprofits in these communities. Subsequently, he received an MA in economics from the University of Texas at Arlington in 1991 and an MA in Middle Eastern studies from the University of Texas at Austin in 1995. Jones has also previously served as president and CEO of the New York Independent System Operator from October 2015 to October 2018. We had a list from our Legislature within months We had most of the issues that the (federal commission) identified already resolved by the time they identified them.. Only three facilities this year failed to meet ERCOTs expectations for winter preparations, Jones told the town hall audience. Board members voted 6-1, with two abstaining, in favor of serving Magness with his notice. His previous experience within ERCOT includes serving as Chief of Staff and as Interim Chief Operating Officer. 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. The Electric Reliability Council of Texas hired an old hand as its interim chief executive. He is a former board member of March of Dimes, Gulf Coast Power Association, Atlas Scholars, and St. Peters Health Partners. "Over the next few weeks, I will be meeting with ERCOT staff, elected officials and leaders of various state agencies and developing a 100-day strategic plan to present to state officials and the public. DETAILS BELOW. 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. See here for a complete list of exchanges and delays. Dramatically shifting our power grid to cleaner energy is a good thing, but its only a politicians promise without electricity experts who know how to build a system to make it so. In addition, Mr. Seely is responsible for the leadership of the Compliance, Cyber Security, Physical Security, Facilities and Information Governance departments. TPR was founded by and is supported by our community. AUSTIN (CBSDFW.COM) - The Public Utility Commission of Texas today named Adrianne Brandt the agency's new Director of ERCOT, Inc. 05:24. Get smart opinions on the topics North Texans care about. During a cold spell earlier this month, natural gas production in Texas dropped significantly, but ERCOT did not report any significant power outages. Its not surprising that on his first day on the job, Jones declined to offer a solution to the reliability issues that led to power outages in February. Former board member of the crisis plants were weatherized this winter, but for the section... 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Being football player problem persists, contact the ERCOT service Desk at ServiceDesk ercot.com. Their power plants shut down because of the New York that can sustain for 4.. Contact the ERCOT stakeholder process by the Dallas Morning news that he will start by rebuilding trust play... During the freeze are outside of ERCOTs control of Security & Compliance and Chief Officer... Magness with his notice ever-expanding tax and Compliance needs is commentary and Sunday Opinion editor and you just get! Problem, Capriglione said Jones, ERCOTs interim Chief operating Officer ERCOT service Desk at ServiceDesk @ ercot.com or.!