Posted: Apr 27, 2021 / 02:41 PM CDT. 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. Terms & Conditions. Vice President and Chief Information Officer. Vice President, Corporate Strategy and PUC Relations. However, Magness has told Ercots board he wont seek or accept a severance, according to a statement. Elizabeth is an editor on the breaking news desk. 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. Magness is leaving the Electric Reliability Council of Texas after the board voted to terminate his employment and gave him a 60-day term notice, according to a notice to Ercot staff and contractors seen by Bloomberg News. He earned his bachelors degree in electrical engineering from the Victoria Jubilee Technical Institute, Bombay. 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. Before his career in the regulated utility industry, Mr. Vegas served in senior leadership positions with IBM, PricewaterhouseCoopers, and Andersen Consulting. 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. After so many angry Texans became armchair electricity experts on social media during the February freeze, this state could use some tethering to reality. Get highlights, trending news, and behind-the-scenes insights from Houston Public Media delivered to your inbox each week. During a cold spell earlier this month, natural gas production in Texas dropped significantly, but ERCOT did not report any significant power outages. 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 Elizabeth Souder. 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. 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. **Please note** If you are already signed up for the newsletter, you do not need to sign up again. 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. The so-called passport program will increase the reliability of renewable energy through battery storage, among other initiatives. He comes to the Bayou City after Let the Houston Public Media newsroom help you start your day. Haley Samsel is the environmental reporter for the Fort Worth Report. 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. 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. Texas Governor Greg Abbott had called for board members and other leaders to step down in the wake of the crisis. The board gave Bill Magness a 60-day termination notice at the beginning of March. Jones was formerly a top executive at ERCOT before leaving to head up the grid operator in New First, he said, ERCOT needs stabilizing, the company itself and the market participants. Prior to joining ERCOT in October 2015, Mr. gelman served as the Director of Energy Market Policy for CPS Energy. By Hannah Brol Got an opinion about this issue? The plan will put ERCOT on a solid foundation for providing reliable electric service year-round," Jones said in part. His experience with the electric industry in the United States and Canada, as well as Kosovo, Afghanistan, and sub-Saharan Africa, has provided Dr. Tamby with broad leadership and technical experience, including system operations, market design and implementation, enterprise architecture, and international development and corporate management. Tags electricity grid ercot Texas Legislature Texas power grid winter freeze. Energy Companies With More Than 500 Employees, Energy Companies With Less Than $50M in Revenue (Top 10K), Energy Companies With Less Than $1B in Revenue (Top 10K), Energy Companies With Less Than $10M in Revenue (Top 10K), Energy Companies With More Than $1M in Revenue (Top 10K), Energy Companies With More Than 50 Employees (Top 10K), Energy Companies With More Than 10 Employees (Top 10K), Energy Companies With More Than 100 Employees, Energy Companies With Less Than $500M in Revenue (Top 10K). 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. The Electric Reliability Council of Texas Board of Directors has selected Brad Jones to serve as interim president and CEO. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. 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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. 05:24. The Electric Reliability Council of Texas hired an old hand as its interim chief executive. His previous experience within ERCOT includes serving as Chief of Staff and as Interim Chief Operating Officer. 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. Previously, she spent nine years with East Kentucky Power Cooperative in the areas of load forecasting, load research, and market research. 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Senior Vice President and Chief Administrative Officer, Chief of Staff. 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. 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. 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. 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. Brad Jones, ERCOT's interim CEO, in a statement said he "welcomes these highly qualified leaders, their expertise and insights into our relentless pursuit of grid reliability." Elizabeth Souder is commentary and Sunday Opinion editor and a member of the editorial board. Brad Jones Summary Overview CB Rank (Person) 23,869 Primary Job Title Senior Vice President and Chief Operations Officer Primary Organization ERCOT Gender 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. They took until November to send us a list of recommendations for how to deal with the cold weather from Uri, Jones said. Brad Jones will fill the role in an interim capacity in early May. 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. Industry veteran Brad Jones is taking over as interim president and CEO of the But some of the biggest threats to the grids stability are outside of ERCOTs control. 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. It crippled oil and gas production, and dozens of people died. When industry insiders were creating the first protocols for the Texas grid operator, veteran energy executive Brad Jones was at the table. Prior to joining ERCOT, she was with Central Maine Power as part of a core team to implement market deregulation in Maine. Brad Jones will fill the role in an interim capacity in early May. By signing up you agree to our Terms of Service and Privacy Policy, Stand with us in our mission to discover and uncover the story of North Texas, The new ERCOT CEO wants to rebuild your trust in the Texas electricity grid, About half-million North Texans lose extra food benefits, Mall owner backs out of plans for paid parking at D-FW shopping center, D-FW under severe thunderstorm watch until noon as quick-moving storm hits region, Frisco trustee goes to conservative radio to defend transgender harassment accusation, Dallas police chief fires officer accused of inappropriate force, suspends different cop, Sean Menke, CEO of Southlake-based travel tech firm Sabre Corp., stepping down, Eli Lilly cuts insulin prices in move to make diabetes medicine more affordable, Texas urges five big pension funds to cut off financial firms boycotting fossil fuels, Shermans semiconductor hub attracts massive land buy for home development, Marriott fires back at Michael Irvins request for expedited evidence in $100M lawsuit, Mexicos democracy is in danger, and we could all pay the price, Conservative groups target American Airlines racial hiring efforts, NFL owners ask Jerry Jones to broker deal with Dan Snyder on Commanders sale, report says. It should give you great confidence that were managing this grid in a much more reliable way. Previously, Brad was a Director, Information Technol Read More Bill Magness, chief executive officer of the Texas power grid operator, will leave his post in the wake of the February energy crisis that left millions of people in the state without electricity and heat for days. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. That included more inspections and assurances from power companies that they were adequately preparing their facilities for winter weather. Their inspectors found 10 potential deficiencies at power plants and six at electric transmission facilities, most of which were resolved. Vice President, System Planning and Weatherization. Clima en Dallas Fort Worth ahora: Desde clima clido hasta fuertes tormentas. Join others and make your gift to Houston Public Media today. 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. In addition, Mr. Seely is responsible for the leadership of the Compliance, Cyber Security, Physical Security, Facilities and Information Governance departments. 1996-2023 Electric Reliability Council of Texas, Inc. All rights reserved. Jones was formerly a top executive at ERCOT before leaving to head up the grid operator in New York. 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. Only three facilities this year failed to meet ERCOTs expectations for winter preparations, Jones told the town hall audience. Box 65, Fort Worth, TX 76101, natural gas production in Texas dropped significantly, recommendations from the Federal Energy Regulatory Commission. Electric companies that failed during the storm were held financially responsible for their mistakes through the multibillion dollar losses they suffered, Jones said. 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. He was an early favorite to replace the embattled CEO and president, Bill Magness, who served in the position for half a decade. ERCOT doesnt have the power to mandate major changes. AUSTIN, Texas Updated at 5:27 p.m. with a statement from the interim CEO. 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. Updated 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. 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. Esto es lo que necesita saber para esta semana. Dr. Tamby has more than 25 years of experience in the electric power industry, including about 15 years in leadership roles. Other companies went bankrupt and continue to struggle because their power plants shut down because of the low temperatures, he added. 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 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. Betty Day was named Vice President of Security & Compliance and Chief Compliance Officer in 2019 after serving in various executive roles since 2011. AUSTIN (CBSDFW.COM) - The Public Utility Commission of Texas today named Adrianne Brandt the agency's new Director of ERCOT, Inc. 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. Magnessjoined Ercotin 2010, and hes led the grid operator since 2016. Before joining ERCOT, Mr. Taylor spent seven years in the finance department at the Lower Colorado River Authority. The generators did a fantastic job of getting ready for this, and were seeing that today, Jones said. What I intend to do here at ERCOT is the very same thing, Jones said of his experience in New York. 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. 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. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. Jones has also previously served as president and CEO of the New York Independent System Operator from October 2015 to October 2018. 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. 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. Brad Jones is an Interim President & Chief Executive Officer at Ercot based in Taylor, Texas. 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. 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. Magness is leaving as ERCOT faces a $2.5 Mara Spak is Vice President of Human Resources at ERCOT. Ms. Day joined ERCOT in 2000 and has more than 30 years of experience in the electric power industry. See here for a complete list of exchanges and delays. Enough jargon, he said, we have to speak in very clear terms.. 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. Contact herby emailor viaTwitter. RELATED: Terminated ERCOT CEO says he won't seek or accept severance pay. He graduated from South Texas College of Law in 2002 and earned awards in South Texas esteemed advocacy program. 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. 2005-2022 Community Impact Newspaper Co. All rights reserved. Jones was once Ercots chief operating officer, and is a Texan. 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. All rights reserved. DETAILS BELOW. Last summer, ERCOT released a 60-item list of reforms the agency was undertaking to improve its broken trust with Texans. 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. 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. 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.. 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. Jones' appointment is effective May 4, and will last until the position is filled, up to a year, according to ERCOT. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. ERCOTs previous chief executive was fired following the storm, and every commissioner serving on the Public Utility Commission resigned as well, Jones said. For example, power plants were weatherized this winter, but for the ice storm of 2011, he said. 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. 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. 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. I commend the ERCOT Board for confirming a leader of Brads caliber as interim CEO, said PUC Chairman Peter Lake in a release statement. 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. That means Texas had no way of bringing in more electricity when the states power generators couldnt produce enough power to meet demand last February. There will be times that we need to speak frankly at ERCOT about what needs to occur to preserve reliability.. He said ERCOT and Brad Jones have roles to play as messengers, but that they alone cannot prevent another power failure. Read more about our editorial independence policyhere. We're in the process of transitioning services for our Today in Houston newsletter. There, he oversaw Commercial Operations and Grid Planning and Operations. 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.. FORTUNE may receive compensation for some links to products and services on this website. Brad Jones (born April 1, 1986) is famous for being football player. You could change us.. He has a long history of service in both the electric and gas industries. 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. Your subscription will be migrated over. Resources like these are made possible by the generosity of our community of donors, foundations, and corporate partners. Second, he plans to improve communication. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. Andrew Cuomo set out an ambitious goal to shift power generation in the state to 50% renewable by 2030. The commission is in the process of establishing new bylaws that could alleviate those issues, he added. Fri, Mar 18 2022 6:26 PM EDT. Businesses are coming here, more people are moving to Texas, so we have to continue to grow, Jones said. 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. Vice President, Security & Compliance and Chief Compliance Officer. Her current responsibilities include Security (Cyber and Physical), Compliance, and Facilities. (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.). WebPublic Utility Commission of Texas 1701 N. Congress, P.O. All of those members lived out of state, records show. Jones did not address the litigation during the town hall. Instead, Jones said in an interview with The Dallas Morning News that he will start by rebuilding trust. 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. The unprecedented outages caused as much as $129 billion in economic losses. 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, 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. 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. He has over 35 years of experience in the electric energy industry. He didnt immediately respond to a LinkedIn message. The Electric Reliability Council of Texas' board of directors on Tuesday appointed Brad Jones as interim president and CEO. 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. 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. 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. Mr. Black also served as the Director of Governmental Affairs for the AEP companies in Texas. March 11, 2021 / 3:16 PM / CBS DFW. He is a licensed CPA in Texas and New York and a Chartered Financial Analyst Charterholder. 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. | Get smart opinions on the topics North Texans care about. Brad Jones, interim CEO of ERCOT, explains how the power grid partners with crypto mining facilities within Texas to manage energy demand. Peak demand for electricity during the freeze reached nearly 10 megawatts above what ERCOT forecast. Board members voted 6-1, with two abstaining, in favor of serving Magness with his notice. Magness has maintained that ERCOT performed well during the energy crisis, and that the Public Utility Commission and state legislature hold most of the power when it comes to mandating grid resiliency. Senior Vice President, General Counsel and Corporate Secretary. Trust with electricity companies, trust with lawmakers, and trust, most crucially, with regular Texans. Notifications can be turned off anytime in the browser settings. Brad Jones of Liberty Hill is the Interim CEO of ERCOT. Dozens of insurance companies have also filed suit. We manage the flow of electric power to more than 26 million Texas customers -- representing 90 percent of the state's So far, 125 deaths across the state have been attributed to the storm and power outage. 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. 2023 Fortune Media IP Limited. Jones will serve beginning May 4. According to his LinkedIn page, he left for retirement after three years. He was active with the Texas Reliability Entity, Edison Electric Institute and the FutureGen Industrial Alliance. Mr. gelman served as Chairman of the ERCOT Technical Advisory Committee from 2011 to 2013. And theres another point on Jones rsum that should give Texans confidence in him. 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. / 3:16 PM / CBS DFW of his experience in the areas of load,... Hall audience in 2000 and has more than 25 years of experience in the areas of load forecasting, research! 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