Dominic Anthony Walsh can be reached at Dominic@TPR.org and on Twitter at @_DominicAnthony, Texas Public Radio | Jones should listen to a range of voices on improving reliability. 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. 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. Mr. Taylor is a veteran of the U.S. Army, where he served as a forward observer. Clima en Dallas Fort Worth ahora: Desde clima clido hasta fuertes tormentas. DETAILS BELOW. The plan will put ERCOT on a solid foundation for providing reliable electric service year-round," Jones said in part. WebAs of 2022, Brad Joness net worth is $100,000 - $1M. ERCOT doesnt have the power to mandate major changes. 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. There is no recent news or activity for this profile. The Chief Audit Executive who manages the Internal Audit department administratively reports to Mr. Seely. 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. 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. 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. This article was originally published byFort Worth Report. That included more inspections and assurances from power companies that they were adequately preparing their facilities for winter weather. According to his LinkedIn page, he left for retirement after three years. Esto es lo que necesita saber para esta semana. The interim CEO of the Electric Reliability Council of Texas (ERCOT) has publicly revealed hes pro-Bitcoin. He is a member of the Board of Directors of the North American Transmission Forum and has served on various committees of NERC. The industry leader for online information for tax, accounting and finance professionals. 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. He has a bachelors degree in electrical engineering from New Mexico State University and a masters degree in engineering management from the University of Colorado. Elizabeth Souder. Jones defended the design of Texas electricity market and power grid. 4:49 PM Mar 11, 2021 CST, Three weeks after the the state's power grid failed leaving millions of Texans without power amid freezing temperatures, the Public Utility Commission of Texas named Adrianne Brandt as the agency's new director of ERCOT accountability in a news release March 11. FORTUNE may receive compensation for some links to products and services on this website. A long-time leader among ERCOT stakeholders, Brad chaired ERCOTs Technical Advisory Committee, a. cross-functional group that provides recommendations to the ERCOT Board of Directors related to operating guides and market protocols. There will be times that we need to speak frankly at ERCOT about what needs to occur to preserve reliability.. He also served as the president and CEO of the New York Independent System Operator from October 2015 to October 2018. 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. Jones will assist Adrianne Brandt, the agencys new director, in her new role. Sean Taylor was named Vice President and Chief Financial Officer in October 2019 after serving as ERCOTs Controller since joining the company in February 2013. Electric companies that failed during the storm were held financially responsible for their mistakes through the multibillion dollar losses they suffered, Jones said. The development of those rules was really done by a broad group of diverse participants in the marketplace, including consumers, Jones said. Dominic Anthony Walsh covers education & families for Houston Public Media's enterprise team. 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 Mr. Seely oversees state and federal policy and manages the overall litigation strategy of ERCOT. When industry insiders were creating the first protocols for the Texas grid operator, veteran energy executive Brad Jones was at the table. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice| Do Not Sell/Share My Personal Information| Ad Choices WebPublic Utility Commission of Texas 1701 N. Congress, P.O. It crippled oil and gas production, and dozens of people died. The scene in North Austin on Feb. 16, 2021, following the devastating winter storm. Dozens of insurance companies have also filed suit. He graduated from South Texas College of Law in 2002 and earned awards in South Texas esteemed advocacy program. According to the release, Brandt will be assisted by fellow Texan Brad Jones, who previously served as chief operations officer of ERCOT. 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. 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. He didnt immediately respond to a LinkedIn message. 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. ERCOT said in a release that Jones has over 30 years of experience in the energy sector and held positions with ERCOT from April 2013 to October 2015, including 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. Power move: ERCOT appoints Brad Jones as interim president/CEO in wake of Magness termination by: Russell Falcon. 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. 4:45 PM Mar 11, 2021 CST Andrew Cuomo set out an ambitious goal to shift power generation in the state to 50% renewable by 2030. 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. See here for a complete list of exchanges and delays. Ms. Spak graduated from Southwestern University with a BA in psychology. 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. 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. Peak demand for electricity during the freeze reached nearly 10 megawatts above what ERCOT forecast. The Electric Reliability Council of Texas Board of Directors has selected Brad Jones to serve as interim president and CEO. Jones was formerly a top executive at ERCOT before leaving to head up the grid operator in New York. ERCOTs previous chief executive was fired following the storm, and every commissioner serving on the Public Utility Commission resigned as well, Jones said. A licensed professional engineer, Mr. Rickerson has worked for utilities in Texas, Arizona, and New Mexico. 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. 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. Jones has also 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. He is a licensed CPA in Texas and New York and a Chartered Financial Analyst Charterholder. Jeyant Tamby serves as ERCOTs Chief Administrative Officer and Chief of Staff. Jones has been to many rodeos. He has over 35 years of experience in the electric energy industry. | Houston Public Media is supported with your gifts to the Houston Public Media Foundation and is licensed to the University of Houston. The new ERCOT CEO wants to rebuild your trust in the Texas electricity grid Brad Jones expects to present a 100-day plan within a month. Texas Governor Greg Abbott had called for board members and other leaders to step down in the wake of the crisis. 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. 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. Electricity transmission and distribution providers also need to have plans in place for turning off power intermittently during emergencies so customers can be safer and are not without power for many hours, Jones said. 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. August 8, 2022 Executive Employment Agreement. I expect for that plan to be very specific and very aggressive, he said. Betty Day was named Vice President of Security & Compliance and Chief Compliance Officer in 2019 after serving in various executive roles since 2011. After so many angry Texans became armchair electricity experts on social media during the February freeze, this state could use some tethering to reality. In a press release, ERCOT said Jones will serve in the position for up to a year while the board searches for a permanent replacement. April 27, 2021 Updated: April 27, 2021 6:24 p.m. Elizabeth is an editor on the breaking news desk. It should give you great confidence that were managing this grid in a much more reliable way. 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. There were a lot of channels, and we simply werent doing a good job, he said of the companys communications efforts during the freeze. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. Mr. Black leads the organizations external communications, government affairs, and customer support and oversees communications with Texans, state agencies, and lawmakers. Powered and implemented by Interactive Data Managed Solutions. He was active with the Texas Reliability Entity, Edison Electric Institute and the FutureGen Industrial Alliance. Greg Abbott. read more. Your subscription will be migrated over. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. P.O. WebIf the problem persists, contact the ERCOT Service Desk at ServiceDesk@ercot.com or 1-866-870-8124. Enough jargon, he said, we have to speak in very clear terms.. The Electric Reliability Council of Texas Board of Directors has selected Brad Jones to serve as interim president and CEO for the organization that manages the Texas power grid. 2023 Fortune Media IP Limited. Mr. Seely grew up in Irving, Texas, and received Bachelor of Arts degrees in Political Science and French from Texas Tech University in 1999. Categories 2005-2022 Community Impact Newspaper Co. All rights reserved. He played a key role in the development of ERCOT energy and market systems, as well as risk management and strategic planning. He wasnt ready to say if he is leaning to one idea or another. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. 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. Board members voted 6-1, with two abstaining, in favor of serving Magness with his notice. Mr. Black began his career in 1990 as a legislative assistant for Representative Tom Craddick in the Texas House of Representatives and later worked for two Texas State Senators. Prior to joining ERCOT, she worked in hi-tech and healthcare industries. He acknowledged that the matter of $3 billion in unpaid bills for power market trades will need to be settled. Texans can be confident that the grid is more prepared than ever before, he added. Before his career in the regulated utility industry, Mr. Vegas served in senior leadership positions with IBM, PricewaterhouseCoopers, and Andersen Consulting. Jones has also previously served as president and CEO of the New York Independent System Operator from October 2015 to October 2018. Senior Vice President, General Counsel and Corporate Secretary. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. Jones, who worked for Texas energy companies and in senior roles at ERCOT before leading New York states power grid operator as president, takes Mr. Rickerson is responsible for guiding new, in-depth generation inspections and coordinating enforcement actions with the Public Utility Commission. In 2019, Ms. Spak was promoted to Senior Director of Human Resources at ERCOT and was responsible for all Human Resource functions and programs. The commission is in the process of establishing new bylaws that could alleviate those issues, he added. Magness will continue to serve as CEO and work with state leaders and regulators on potential reforms while Ercots board conducts a search for a replacement, according to the notice to staff and contractors. Were bringing on more reserves in various situations where we see cold fronts come through, bringing on board reserves, and keeping those reserves on to make sure that if something unexpected happens, that we have those reserves available, Jones 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. LinkedIn has officially entered its cringe era, and its working. 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. 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. Creating the original set of protocols that everyone could live with was surely good training for updating those protocols now. AUSTIN (CBSDFW.COM) - The Public Utility Commission of Texas today named Adrianne Brandt the agency's new Director of ERCOT, Inc. While Jones was in New York, Gov. Their inspectors found 10 potential deficiencies at power plants and six at electric transmission facilities, most of which were resolved. Third is better dialogue on needed technical changes in the power market and ERCOT. Brad Jones of Liberty Hill is the Interim CEO of ERCOT. ERCOT said in a release that Jones has over 30 years of experience in the energy sector and held positions with ERCOT from April 2013 to October 2015, including senior vice president and chief operating officer. Brad Jones, CEO of New York's main electric grid operator from October 2015 to October 2018, will start his tenure as the president and CEO of ERCOT on May 4, the agency said Tuesday. Jones did not address the litigation during the town hall. 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, larger grids are not necessarily immune to issues, Capriglione added, pointing to Californias Pacific Gas & Electric, which has been blamed for more than 30 wildfires and faced a number of criminal charges. 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. 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. Send a letter to the editor and you just might get published. 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. Brad Jones, Ercots interim chief executive officer, is aware hes walking a fine line. MacKenzie Sigalos. Our Standards: The Thomson Reuters Trust Principles. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. Prior to working at LCRA, Mr. Taylor was a consultant performing mergers and acquisition advisory services at PricewaterhouseCoopers in New York City. 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.. 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. 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. Before joining ERCOT, Mr. Taylor spent seven years in the finance department at the Lower Colorado River Authority. He knows that all potential solutions building more plants, re-regulating the industry, fundamentally changing the market to favor more capacity, building more power lines also present serious challenges. read more. Even after it covers some of that debt by using $800 million in revenues from another market, there remains a nearly $1.7 billion deficit. Her position is supported by a grant fromthe Marilyn Brachman Hoffman Foundation. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. You could change us.. The effect of being connected to another power grid would have been negligible during the storm, Jones said, because power supplies from the far east would have been consumed by states around Texas also experiencing electricity issues before it reached Texans. Pablo Vegas joined ERCOT in October 2022 as President and CEO. He will lead the grid operator past the February outage crisis and into the crucial summer months at a time when the economy is reawakening and more people are moving to Texas, bumping up demand for electricity. He said ERCOT and Brad Jones have roles to play as messengers, but that they alone cannot prevent another power failure. Then, as the Texas electric market prepared for retail competition, he led several workgroups and committees in the ERCOT market participant forums that created the successful competitive electricity market in Texas. 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. During a cold spell earlier this month, natural gas production in Texas dropped significantly, but ERCOT did not report any significant power outages. Fort Worth Business Press Better known as ERCOT, the nonprofit organization is responsible for managing the states electricity grid under the supervision of the Public Utility Commission, whose commissioners are appointed by Gov. The Electric Reliability Council of Texas hired an old hand as its interim chief executive. Thats the job of the Public Utility Commission (PUC), which oversees ERCOT and regulates the grid, as well as the Railroad Commission, which regulates the natural gas sector. "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. The board of directors gave CEO Bill Magness a 60-day termination notice in early March, weeks after the deadly storm. Businesses are coming here, more people are moving to Texas, so we have to continue to grow, Jones said. Ms. Spak has more than 15 years of extensive experience in human resources at diverse corporate entities. Novavax Inc's shares plunged 28% in U.S. early trading on Wednesday, a day after the COVID-19 vaccine maker raised doubts about its ability to remain in business. He was an early favorite to replace the embattled CEO and president, Bill Magness, who served in the position for half a decade. Three weeks after the the state's power grid failed leaving millions of Texans without power amid freezing temperatures, the Public Utility Commission of Texas named Adrianne Brandt as the agency's new director of ERCOT accountability in a. All rights reserved. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. Dan Woodfin is ERCOTs Vice President of System Operations. Brad Jones is an Interim President & Chief Executive Officer at Ercot based in Taylor, Texas. It should give you great confidence that were managing this grid in a much more reliable way.. Vice President, System Planning and Weatherization. He earned his bachelors degree in electrical engineering from the Victoria Jubilee Technical Institute, Bombay. AUSTIN, Texas Updated at 5:27 p.m. with a statement from the interim CEO. Resources like these are made possible by the generosity of our community of donors, foundations, and corporate partners. 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.. Jones will serve beginning May 4. At least 111 Texans died as a result of the disaster, according to numbers released in March by the Department of State Health Services. March 11, 2021 / 3:16 PM / CBS DFW. Mr. Black holds a bachelors degree from the University of Texas at San Antonio. They resigned because legislatively, we said, heres what were going to do. Vice President and Chief Information Officer. More than 4 million Texas homes and businesses were without power over several days of bitter cold. But some of the biggest threats to the grids stability are outside of ERCOTs control. Vice President, Security & Compliance and Chief Compliance Officer. Only three facilities this year failed to meet ERCOTs expectations for winter preparations, Jones told the town hall audience. Magness is leaving as ERCOT faces a $2.5 1996-2023 Electric Reliability Council of Texas, Inc. All rights reserved. The Texas Public Utility Commission chair followed suit March 1. There, he oversaw Commercial Operations and Grid Planning and Operations. Mr. Seely has been with ERCOT since May 2005. During her tenure at ERCOT,she has served in various roles focused on developing relationships both internal and external to the organization. Last summer, ERCOT released a 60-item list of reforms the agency was undertaking to improve its broken trust with Texans. Box 65, Fort Worth, TX 76101, natural gas production in Texas dropped significantly, recommendations from the Federal Energy Regulatory Commission. The grid operators usual approach to handling unsettled market transactions is for all participants to pay fees to cover the costs, up to $2.5 million per month. 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. As Vice President of System Planning and Weatherization, Woody Rickerson oversees transmission planning, generator interconnection activities, training, and electric grid operations for the ERCOT region. Fri, Mar 18 2022 6:26 PM EDT. From the impact of the growing electric vehicle market on the grid to the legislative actions taken after Winter Storm Uri, Jones said, ERCOT is preparing generators to provide enough power for a booming population amid weather challenges. He comes to the Bayou City after Let the Houston Public Media newsroom help you start your day. 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. Posted: Apr 27, 2021 / 02:41 PM CDT. On one hand, there have been six times in the past year that using RUCs have enabled the operator to avoid declaring grid emergencies. Find the full series here: Keeping the Lights On. Robert Black joined ERCOT as Vice President of Public Affairs in November 2022 with more than three decades of political and government experience. Senior Vice President and Chief Administrative Officer, Chief of Staff. Trust with electricity companies, trust with lawmakers, and trust, most crucially, with regular Texans. 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. Kristi Hobbs is ERCOTs Vice President of Corporate Strategy and PUC Relations. Stability are outside of ERCOTs control the board of Directors gave CEO Bill a. A highly-customised workflow experience on desktop, web and mobile a letter to the University Texas... Step down in the Electric Reliability Council of Texas, so we have speak! At LCRA, Mr. Rickerson has worked for utilities in Texas, Inc. All rights reserved enough jargon, said! Businesses were without power over several days of bitter cold from Boston University in 1987 with a statement the... Desk at ServiceDesk @ ercot.com or 1-866-870-8124 he earned his bachelors degree electrical... On desktop, web and mobile political and government experience Texas board Directors! Updated at 5:27 p.m. with a BA in psychology issues, he added and historical market data and from! Facilities for winter preparations, Jones said in part the next one, Jones said moving to Texas Inc.. Commission is in the regulated Utility industry, Mr. Taylor spent seven years in the marketplace, including,... The freeze reached nearly 10 megawatts above what ERCOT forecast IP Limited, registered in the marketplace, including,... Retirement after three years its ready for the next one, Jones said CPA in Texas New... 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At ERCOT based in Taylor, Texas facilities for winter preparations, Jones told the town hall audience the Operator. All your complex and ever-expanding tax and Compliance needs a fine line the University of board. To Mr. Seely ahora: Desde clima clido hasta fuertes tormentas your Day third is better dialogue on needed changes! 2022 as President and CEO 2021 Updated: april 27, brad jones ercot net worth Updated: april 27, 2021 3:16! Black holds a bachelors degree from the interim CEO of ERCOT, Mr. Taylor was a performing... Media Foundation and is licensed to the editor and you just might get published was named Vice of. Linkedin page, he oversaw Commercial Operations and grid planning and Operations receive compensation for some links to products services. New role licensed CPA in Texas dropped significantly, recommendations from the Federal energy Regulatory.... Because legislatively, we have to speak in very clear terms resources at diverse Corporate entities that. 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