Trust with electricity companies, trust with lawmakers, and trust, most crucially, with regular Texans. Prior to joining ERCOT, she was with Central Maine Power as part of a core team to implement market deregulation in Maine. 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. 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. He spent years developing generation and working with regulators for TXU, and he spent years in top roles at ERCOT. Elizabeth is an editor on the breaking news desk. Example video title will go here for this video. 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. 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. 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. P.O. He said ERCOT and Brad Jones have roles to play as messengers, but that they alone cannot prevent another power failure. On one hand, there have been six times in the past year that using RUCs have enabled the operator to avoid declaring grid emergencies. The agency previously conducted about 80 in-person inspections per year, according to NBC DFW. Magnessjoined Ercotin 2010, and hes led the grid operator since 2016. Robert Black joined ERCOT as Vice President of Public Affairs in November 2022 with more than three decades of political and government experience. 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 didnt immediately respond to a LinkedIn message. At that rate, ERCOT might finally be finished paying for this years outages by the end of the century. Categories The Electric Reliability Council of Texas Board of Directors has selected Brad Jones to serve as interim president and CEO. He is a member of the Board of Directors of the North American Transmission Forum and has served on various committees of NERC. 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 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. 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. Got an opinion about this issue? He acknowledged that the matter of $3 billion in unpaid bills for power market trades will need to be settled. Instead, Jones said in an interview with The Dallas Morning News that he will start by rebuilding trust. 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?. Box 13326, Austin, TX 78711-3326 Fax 512-936-7003 News Release Contact: Andrew Barlow March 11, 2021 media@puc.texas.gov During her tenure at ERCOT,she has served in various roles focused on developing relationships both internal and external to the organization. Peak demand for electricity during the freeze reached nearly 10 megawatts above what ERCOT forecast. 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. State Sen. Kelly Hancock and state Rep. Giovanni Capriglione also answered questions read by County Commissioner Gary Fickes. AUSTIN, Texas Updated at 5:27 p.m. with a statement from the interim CEO. ERCOTs previous chief executive was fired following the storm, and every commissioner serving on the Public Utility Commission resigned as well, Jones said. We manage the flow of electric power to more than 26 million Texas customers -- representing 90 percent of the state's (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.). Vice President and Chief Financial Officer. Ms. Spak has more than 15 years of extensive experience in human resources at diverse corporate entities. It was championed by Magness, who is leaving just as the first stages are rolled out. "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. If past experience is any indication of future performance, he will. 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. Mr. Black leads the organizations external communications, government affairs, and customer support and oversees communications with Texans, state agencies, and lawmakers. 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. 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. See here for a complete list of exchanges and delays. 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. Andrew Cuomo set out an ambitious goal to shift power generation in the state to 50% renewable by 2030. Vice President, Security & Compliance and Chief Compliance Officer. Read more about our editorial independence policyhere. The board of directors gave CEO Bill Magness a 60-day termination notice in early March, weeks after the deadly storm. There is no recent news or activity for this profile. 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. 2005-2022 Community Impact Newspaper Co. All rights reserved. The Electric Reliability Council of Texas (ERCOT) board has selected a new CEO and president. Jones did not address the litigation during the town hall. RELATED: Terminated ERCOT CEO says he won't seek or accept severance pay. Posted: Apr 27, 2021 / 02:41 PM CDT. 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. Jones was formerly a top executive at ERCOT before leaving to head up the grid operator in New York. 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. 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. The development of those rules was really done by a broad group of diverse participants in the marketplace, including consumers, Jones said. Jones has also previously served as president and CEO of the New York Independent System Operator from October 2015 to October 2018. 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 is a former board member of March of Dimes, Gulf Coast Power Association, Atlas Scholars, and St. Peters Health Partners. 05:24. Brad Jones, interim CEO of ERCOT, explains how the power grid partners with crypto mining facilities within Texas to manage energy demand. He is a licensed CPA in Texas and New York and a Chartered Financial Analyst Charterholder. More than 4 million Texas homes and businesses were without power over several days of bitter cold. 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. Mr. Black also served as the Director of Governmental Affairs for the AEP companies in Texas. Jones should listen to a range of voices on improving reliability. Greg Abbott. At least 111 Texans died as a result of the disaster, according to numbers released in March by the Department of State Health Services. read more. 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. That included more inspections and assurances from power companies that they were adequately preparing their facilities for winter weather. 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. 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. 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. 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. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. The unprecedented outages caused as much as $129 billion in economic losses. Haley Samsel is the environmental reporter for the Fort Worth Report. 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. 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, Resource Integration & Ongoing Operations Resource Services. 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. March 11, 2021 / 3:16 PM / CBS DFW. Ercots chair and four other directors resigned Feb. 23, while two other board members resigned in the following days. 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. 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. 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. He has over 35 years of experience in the electric energy industry. 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. (Courtesy Public Utility Commission of Texas), Editor, Spring/Klein & Lake Houston/Humble/Kingwood. 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. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. 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. Houston Public Media is supported with your gifts to the Houston Public Media Foundation and is licensed to the University of Houston. I commend the ERCOT Board for confirming a leader of Brads caliber as interim CEO, said PUC Chairman Peter Lake in a release statement. He brings the right combination of ERCOT knowledge and broad industry expertise needed to provide the stability and reliability that Texans expect and deserve.. He currently resides in Lansing. 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. 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. 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. So far, 125 deaths across the state have been attributed to the storm and power outage. But some of the biggest threats to the grids stability are outside of ERCOTs control. The board gave Bill Magness a 60-day termination notice at the beginning of March. 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. 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. 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. We're in the process of transitioning services for our Today in Houston newsletter. Vice President, System Planning and Weatherization. Brad Jones, Ercots interim chief executive officer, is aware hes walking a fine line. 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. Our Standards: The Thomson Reuters Trust Principles. **Please note** If you are already signed up for the newsletter, you do not need to sign up again. He played a key role in the development of ERCOT energy and Hannah covers education, local government, transportation, business, real estate development and nonprofits in these communities. April 27, 2021 Updated: April 27, 2021 6:24 p.m. He played a key role in the development of ERCOT energy and market systems, as well as risk management and strategic planning. Im not sure being connected to a bigger grid would actually have less chance of causing a problem, Capriglione said. Prior to working at LCRA, Mr. Taylor was a consultant performing mergers and acquisition advisory services at PricewaterhouseCoopers in New York City. According to his LinkedIn page, he left for retirement after three years. 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. 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. Jeyant Tamby serves as ERCOTs Chief Administrative Officer and Chief of Staff. Dominic Anthony Walsh can be reached at Dominic@TPR.org and on Twitter at @_DominicAnthony, Texas Public Radio | Unfortunately, he said, ERCOTs push for affordability over reliability finally caught up to it in February 2021. LinkedIn has officially entered its cringe era, and its working. Industry insiders will be pounding on his door, but he should seek counsel from consumers, city emergency officials, health professionals and environmental experts, too. 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. Mr. Taylor has more than 20 years of finance experience in various roles. The interim CEO of the Electric Reliability Council of Texas (ERCOT) has publicly revealed hes pro-Bitcoin. Board members voted 6-1, with two abstaining, in favor of serving Magness with his notice. Terms & Conditions. Kenan gelman isERCOTs Vice President of Commercial Operations, overseeing Market Operations, Settlement and Retail Operations, and Market Design and Development. The generators did a fantastic job of getting ready for this, and were seeing that today, 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. Third is better dialogue on needed technical changes in the power market and ERCOT. AUSTIN (CBSDFW.COM) - The Public Utility Commission of Texas today named Adrianne Brandt the agency's new Director of ERCOT, Inc. 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. Elizabeth Souder. Industry veteran Brad Jones is taking over as interim president and CEO of the In a post-storm legislative hearing, Magness responded to one lawmaker who asked, How can we do better? by saying, Yall made us. Before his career in the regulated utility industry, Mr. Vegas served in senior leadership positions with IBM, PricewaterhouseCoopers, and Andersen Consulting. This caused some friction with the governors office, and Jones soon returned to Texas. 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. Because Texas is independent, state leaders can also move with more speed to craft reforms and implement them without waiting for recommendations from the Federal Energy Regulatory Commission, Jones said. Kristi Hobbs is ERCOTs Vice President of Corporate Strategy and PUC Relations. 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. She earned bachelors degrees in mathematics and physics from Berea College in Kentucky and attended graduate school at the University of Kentucky. 2023 Fortune Media IP Limited. Tags electricity grid ercot Texas Legislature Texas power grid winter freeze. 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 Electric Reliability Council of Texas' board of directors on Tuesday appointed Brad Jones as interim president and CEO. 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. This article was originally published byFort Worth Report. He comes to the Bayou City after Let the Houston Public Media newsroom help you start your day. 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. 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.. After so many angry Texans became armchair electricity experts on social media during the February freeze, this state could use some tethering to reality. Jones was once Ercots chief operating officer, and is a Texan. 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. 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. The Electric Reliability Council of Texas hired an old hand as its interim chief executive. 4:45 PM Mar 11, 2021 CST 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 was once Ercots chief operating officer, and is a Texan. Prior to joining ERCOT, she worked in hi-tech and healthcare industries. 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. 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. That rate, ERCOT might finally be finished paying for this profile 5:27 p.m. with statement! 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