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. By Hannah Brol Last summer, ERCOT released a 60-item list of reforms the agency was undertaking to improve its broken trust with Texans. They took until November to send us a list of recommendations for how to deal with the cold weather from Uri, Jones said. 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. Mr. Seely grew up in Irving, Texas, and received Bachelor of Arts degrees in Political Science and French from Texas Tech University in 1999. 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. 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. In a post-storm legislative hearing, Magness responded to one lawmaker who asked, How can we do better? by saying, Yall made us. 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. Jones has been to many rodeos. I expect for that plan to be very specific and very aggressive, 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. Enough jargon, he said, we have to speak in very clear terms.. At least 111 Texans died as a result of the disaster, according to numbers released in March by the Department of State Health Services. 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. He didnt immediately respond to a LinkedIn message. 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. 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. 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. Peak demand for electricity during the freeze reached nearly 10 megawatts above what ERCOT forecast. We manage the flow of electric power to more than 26 million Texas customers -- representing 90 percent of the state's ERCOT doesnt have the power to mandate major changes. read more. 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. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. 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. During a cold spell earlier this month, natural gas production in Texas dropped significantly, but ERCOT did not report any significant power outages. 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. However, Magness has told Ercots board he wont seek or accept a severance, according to a statement. Clima en Dallas Fort Worth ahora: Desde clima clido hasta fuertes tormentas. Terms & Conditions. 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. 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. Dr. Tamby has more than 25 years of experience in the electric power industry, including about 15 years in leadership roles. 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 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 is a member of the Board of Directors of the North American Transmission Forum and has served on various committees of NERC. 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 plan will put ERCOT on a solid foundation for providing reliable electric service year-round," Jones said in part. Mr. Seely has been with ERCOT since May 2005. Jones was formerly a top executive at ERCOT before leaving to head up the grid operator in New York. There, he oversaw Commercial Operations and Grid Planning and Operations. 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. Jones will assist Adrianne Brandt, the agencys new director, in her new role. During her tenure at ERCOT,she has served in various roles focused on developing relationships both internal and external to the organization. Brad Jones of Liberty Hill is the Interim CEO of ERCOT. 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. 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. 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. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. 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. Join others and make your gift to Houston Public Media today. Mr. Black leads the organizations external communications, government affairs, and customer support and oversees communications with Texans, state agencies, and lawmakers. 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. Prior to joining ERCOT, she was with Central Maine Power as part of a core team to implement market deregulation in Maine. 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. 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. 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. Tags electricity grid ercot Texas Legislature Texas power grid winter freeze. 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.. Get highlights, trending news, and behind-the-scenes insights from Houston Public Media delivered to your inbox each week. 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.. 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. Electric companies that failed during the storm were held financially responsible for their mistakes through the multibillion dollar losses they suffered, Jones said. AUSTIN (CBSDFW.COM) - The Public Utility Commission of Texas today named Adrianne Brandt the agency's new Director of ERCOT, Inc. For example, power plants were weatherized this winter, but for the ice storm of 2011, he said. Brad Jones, interim CEO of ERCOT, explains how the power grid partners with crypto mining facilities within Texas to manage energy demand. There is no recent news or activity for this profile. On Tuesday night, Jones tuned in virtually for a town hall with voters and Republican officials based in Tarrant County. Industry insiders will be pounding on his door, but he should seek counsel from consumers, city emergency officials, health professionals and environmental experts, too. Mr. Rickerson is responsible for guiding new, in-depth generation inspections and coordinating enforcement actions with the Public Utility Commission. 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.. Get smart opinions on the topics North Texans care about. 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. The scene in North Austin on Feb. 16, 2021, following the devastating winter storm. Jeyant Tamby serves as ERCOTs Chief Administrative Officer and Chief of Staff. After so many angry Texans became armchair electricity experts on social media during the February freeze, this state could use some tethering to reality. The unprecedented outages caused as much as $129 billion in economic losses. During his time at Siemens, he served as the Lead Architect for delivering mission-critical solutions to ISO/RTOs, like PJM and CAISO. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. It should give you great confidence that were managing this grid in a much more reliable way.. 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. 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. To View The Rest of This Article Please Visit kvue.com 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. The industry leader for online information for tax, accounting and finance professionals. Magnessjoined Ercotin 2010, and hes led the grid operator since 2016. 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. This years storm was far worse, and ERCOT needs to look at weatherization planning. You could change us.. Your subscription will be migrated over. He spent years developing generation and working with regulators for TXU, and he spent years in top roles at ERCOT. Gas is a very protected and treasured resource within the Texas economy and the Texas politics, so you have to pick your battles, Cramton said. He played a key role in the development of ERCOT energy and market systems, as well as risk management and strategic planning. Posted: Apr 27, 2021 / 02:41 PM CDT. 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. 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. What I intend to do here at ERCOT is the very same thing, Jones said of his experience in New York. The generators did a fantastic job of getting ready for this, and were seeing that today, Jones said. Iconic German restaurant in Fort Worth closing doors after 56 years, Enough | Black MENtal Health: Shedding light on asking for help, finding community and resources, Thunderstorms develop in North Texas: Latest radar, timeline here. 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. Andrew Cuomo set out an ambitious goal to shift power generation in the state to 50% renewable by 2030. Mr. Woodfin has over 30 years of experience in the electric power industry, including leadership positions in both system planning and system operations for ERCOT. The Chief Audit Executive who manages the Internal Audit department administratively reports to Mr. Seely. 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. According to the release, Brandt will be assisted by fellow Texan Brad Jones, who previously served as chief operations officer of ERCOT. Hannah covers education, local government, transportation, business, real estate development and nonprofits in these communities. Fort Worth Business Press He brings the right combination of ERCOT knowledge and broad industry expertise needed to provide the stability and reliability that Texans expect and deserve.. Her position is supported by a grant fromthe Marilyn Brachman Hoffman Foundation. That represents money owed by wholesale buyers to power generators who sold electricity at the market cap rate during the freeze. 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. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. Haley Samsel is the environmental reporter for the Fort Worth Report. Brad Jones will fill the role in an interim capacity in early May. Businesses are coming here, more people are moving to Texas, so we have to continue to grow, Jones said. 1996-2023 Electric Reliability Council of Texas, Inc. All rights reserved. Vice President and Chief Financial Officer. 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. Prior to joining ERCOT, he served as Vice President of External Affairs for AEP Texas. 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. | Betty Day was named Vice President of Security & Compliance and Chief Compliance Officer in 2019 after serving in various executive roles since 2011. Ms. Day joined ERCOT in 2000 and has more than 30 years of experience in the electric power industry. Send a letter to the editor and you just might get published. Magness is being terminated without cause, a spokesperson said, making him eligible for a severance of one-years current salary, according to his employment agreement. 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?. It should give you great confidence that were managing this grid in a much more reliable way. Jones was formerly a top executive at ERCOT before leaving to head up the grid operator in New York. 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. 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. Why would a CEO in his 50s retire? P.O. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. Prior to joining ERCOT in October 2015, Mr. gelman served as the Director of Energy Market Policy for CPS Energy. WebAs of 2022, Brad Joness net worth is $100,000 - $1M. FORTUNE may receive compensation for some links to products and services on this website. **Please note** If you are already signed up for the newsletter, you do not need to sign up again. 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. 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. AUSTIN, Texas Updated at 5:27 p.m. with a statement from the interim CEO. In her role, Ms. Spak oversees all people functions at ERCOT and develops and oversees strategic human resource planning to provide the company with the best talent while also positioning ERCOT as a premier employer. Find the full series here: Keeping the Lights On. WebPublic Utility Commission of Texas 1701 N. Congress, P.O. 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. 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. MacKenzie Sigalos. Vice President, Security & Compliance and Chief Compliance Officer. Previously, Brad was a Director, Information Technol Read More 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. He is a licensed CPA in Texas and New York and a Chartered Financial Analyst Charterholder. 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. 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. 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. His previous experience within ERCOT includes serving as Chief of Staff and as Interim Chief Operating Officer. Jones was once Ercots chief operating officer, and is a Texan. Brad Jones will fill the role in an interim capacity in early May. Powered and implemented by Interactive Data Managed Solutions. ERCOT Verified account @ERCOT_ISO. That included more inspections and assurances from power companies that they were adequately preparing their facilities for winter weather. 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. He was an early favorite to replace the embattled CEO and president, Bill Magness, who served in the position for half a decade. 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. 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. All quotes delayed a minimum of 15 minutes. 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." 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