This caused some friction with the governors office, and Jones soon returned to Texas. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. 05:24. 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. Mara Spak is Vice President of Human Resources at ERCOT. 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. WebPublic Utility Commission of Texas 1701 N. Congress, P.O. August 8, 2022 Executive Employment Agreement. He was an early favorite to replace the embattled CEO and president, Bill Magness, who served in the position for half a decade. Their inspectors found 10 potential deficiencies at power plants and six at electric transmission facilities, most of which were resolved. 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. Elizabeth Souder is commentary and Sunday Opinion editor and a member of the editorial board. Prior to joining ERCOT in October 2015, Mr. gelman served as the Director of Energy Market Policy for CPS Energy. Ercots chair and four other directors resigned Feb. 23, while two other board members resigned in the following days. Jones was once Ercots chief operating officer, and is a Texan. 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. April 27, 2021 Updated: April 27, 2021 6:24 p.m. 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. Third is better dialogue on needed technical changes in the power market and ERCOT. He didnt immediately respond to a LinkedIn message. Offers may be subject to change without notice. Brad Jones of Liberty Hill is the Interim CEO of ERCOT. 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. 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The interim CEO of the Electric Reliability Council of Texas (ERCOT) has publicly revealed hes pro-Bitcoin. 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. Jones comes on board at a time of intense scrutiny for the grid operator, following the February winter storm and power outages that affected the entire state. 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. He has a long history of service in both the electric and gas industries. At this point, Jones said there are three components to his trust plan. Before joining ERCOT, Mr. Taylor spent seven years in the finance department at the Lower Colorado River Authority. 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. I expect for that plan to be very specific and very aggressive, he said. 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. Enough jargon, he said, we have to speak in very clear terms.. Why would a CEO in his 50s retire? Elizabeth Souder. The unprecedented outages caused as much as $129 billion in economic losses. Jones was formerly a top executive at ERCOT before leaving to head up the grid operator in New WebIf the problem persists, contact the ERCOT Service Desk at ServiceDesk@ercot.com or 1-866-870-8124. The Texas Public Utility Commission chair followed suit March 1. They took until November to send us a list of recommendations for how to deal with the cold weather from Uri, Jones said. Prior to working at LCRA, Mr. Taylor was a consultant performing mergers and acquisition advisory services at PricewaterhouseCoopers in New York City. To View The Rest of This Article Please Visit kvue.com Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. 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. Brad Jones, Ercots interim chief executive officer, is aware hes walking a fine line. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. 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.. Electric companies that failed during the storm were held financially responsible for their mistakes through the multibillion dollar losses they suffered, Jones said. The generators did a fantastic job of getting ready for this, and were seeing that today, Jones said. 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. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. 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 On Tuesday night, Jones tuned in virtually for a town hall with voters and Republican officials based in Tarrant County. What I intend to do here at ERCOT is the very same thing, Jones said of his experience in New York. 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." The board gave Bill Magness a 60-day termination notice at the beginning of March. So far, 125 deaths across the state have been attributed to the storm and power outage. Last summer, ERCOT released a 60-item list of reforms the agency was undertaking to improve its broken trust with Texans. Andrew Cuomo set out an ambitious goal to shift power generation in the state to 50% renewable by 2030. Jones' appointment is effective May 4, and will last until the position is filled, up to a year, according to ERCOT. He graduated from Boston University in 1987 with a BA in international relations. There were a lot of channels, and we simply werent doing a good job, he said of the companys communications efforts during the freeze. 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. In this role, Mr. Woodfin leads Real-Time Operations, Operations Planning, Forecasting and Ancillary Services, Outage Coordination, and other engineering activities that support the reliable operation of the power system and promote efficient power markets. RELATED: Death toll from Texas winter storms rises once more to 125 people, D-FW victims now total 12. That included more inspections and assurances from power companies that they were adequately preparing their facilities for winter weather. This years storm was far worse, and ERCOT needs to look at weatherization planning. 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. 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. Fort Worth Business Press 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. Brad Jones Summary Overview CB Rank (Person) 23,869 Primary Job Title Senior Vice President and Chief Operations Officer Primary Organization ERCOT Gender 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. 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. 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. Vice President, System Planning and Weatherization. Businesses are coming here, more people are moving to Texas, so we have to continue to grow, Jones said. Haley Samsel is the environmental reporter for the Fort Worth Report. When industry insiders were creating the first protocols for the Texas grid operator, veteran energy executive Brad Jones was at the table. The commission is in the process of establishing new bylaws that could alleviate those issues, he added. 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. In 2019, Ms. Spak was promoted to Senior Director of Human Resources at ERCOT and was responsible for all Human Resource functions and programs. He has over 35 years of experience in the electric energy industry. Vice President, Security & Compliance and Chief Compliance Officer. Mr. Black also served as the Director of Governmental Affairs for the AEP companies in Texas. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. 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. He didnt immediately respond to a LinkedIn message. Send a letter to the editor and you just might get published. Jones will serve beginning May 4. 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. He earned his bachelors degree in electrical engineering from the Victoria Jubilee Technical Institute, Bombay. Ms. Spak graduated from Southwestern University with a BA in psychology. Trust with electricity companies, trust with lawmakers, and trust, most crucially, with regular Texans. 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. 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. 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. Prior to joining ERCOT, he served as Vice President of External Affairs for AEP Texas. Brad Jones will fill the role in an interim capacity in early May. There is no recent news or activity for this profile. During his time at Siemens, he served as the Lead Architect for delivering mission-critical solutions to ISO/RTOs, like PJM and CAISO. Generators, the grid operator and politicians have clashed over who is to blame, pointing fingers at power plants that didnt prepare for winter, Texass highly deregulated power market, frozen natural gas wells and issues with the grid itself. 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). Mr. Seely oversees state and federal policy and manages the overall litigation strategy of ERCOT. Terms & Conditions. ERCOTs previous chief executive was fired following the storm, and every commissioner serving on the Public Utility Commission resigned as well, Jones said. 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 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. Jones has also He currently resides in Lansing. 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. Mr. Black leads the organizations external communications, government affairs, and customer support and oversees communications with Texans, state agencies, and lawmakers. 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.. 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. Got an opinion about this issue? 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. Get highlights, trending news, and behind-the-scenes insights from Houston Public Media delivered to your inbox each week. Texas Governor Greg Abbott had called for board members and other leaders to step down in the wake of the crisis. From 2013 until 2018, Mr. gelman served on the Gulf Coast Power Associations (GCPA) Board of Directors, including presiding as Vice President in 2014 and President in 2015. He acknowledged that the matter of $3 billion in unpaid bills for power market trades will need to be settled. 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. 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. Our Standards: The Thomson Reuters Trust Principles. 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. The board of directors gave CEO Bill Magness a 60-day termination notice in early March, weeks after the deadly storm. Prior to joining ERCOT, she worked in hi-tech and healthcare industries. 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. 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 development of those rules was really done by a broad group of diverse participants in the marketplace, including consumers, Jones said. 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. 2023 Fortune Media IP Limited. 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. **Please note** If you are already signed up for the newsletter, you do not need to sign up again. 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. 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. On one hand, there have been six times in the past year that using RUCs have enabled the operator to avoid declaring grid emergencies. Senior Vice President and Chief Administrative Officer, Chief of Staff. Jones did not address the litigation during the town hall. Previously, Brad was a Director, Information Technol Read More He is a licensed CPA in Texas and New York and a Chartered Financial Analyst Charterholder. Her position is supported by a grant fromthe Marilyn Brachman Hoffman Foundation. 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. Posted: Apr 27, 2021 / 02:41 PM CDT. But some of the biggest threats to the grids stability are outside of ERCOTs control. 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. Mr. Taylor is a veteran of the U.S. Army, where he served as a forward observer. Fri, Mar 18 2022 6:26 PM EDT. Jayapal Parakkuth has over 25 years of experience in successfully visualizing, designing, and implementing software solutions to various aspects of power system grid control. Industry insiders will be pounding on his door, but he should seek counsel from consumers, city emergency officials, health professionals and environmental experts, too. 1996-2023 Electric Reliability Council of Texas, Inc. All rights reserved. The Electric Reliability Council of Texas (ERCOT) board has selected a new CEO and president. Jones should listen to a range of voices on improving reliability. Jones, who worked for Texas energy companies and in senior roles at ERCOT before leading New York states power grid operator as president, takes More than 4 million Texas homes and businesses were without power over several days of bitter cold. March 11, 2021 / 3:16 PM / CBS DFW. 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. 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. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. Prior to joining NiSource, Mr. Vegas held a variety of senior executive positions with American Electric Power (AEP), including President and Chief Operating Officer of AEP Ohio, President and Chief Operating Officer of AEP Texas, and Vice President and Chief Information Officer of AEP. He spent years developing generation and working with regulators for TXU, and he spent years in top roles at ERCOT. April 27 (Reuters) - Brad Jones has been elected interim president and chief executive officer of the Texas grid operator ERCOT, its board said on Tuesday, filling the gap left by the previous CEO who was ousted in the wake of a deadly blackout in February. Mr. gelman served as Chairman of the ERCOT Technical Advisory Committee from 2011 to 2013. 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. Previously, she spent nine years with East Kentucky Power Cooperative in the areas of load forecasting, load research, and market research. 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.. 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. They resigned because legislatively, we said, heres what were going to do. Box 13326, Austin, TX 78711-3326 Fax 512-936-7003 News Release Contact: Andrew Barlow March 11, 2021 media@puc.texas.gov 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 graduated from South Texas College of Law in 2002 and earned awards in South Texas esteemed advocacy program. AUSTIN, Texas Updated at 5:27 p.m. with a statement from the interim CEO. You could change us.. 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. His previous experience within ERCOT includes serving as Chief of Staff and as Interim Chief Operating Officer. Additionally, he spent time in Washington, DC working in the Majority Leaders office and the Committee on Ways and Means. The so-called passport program will increase the reliability of renewable energy through battery storage, among other initiatives. Mr. Taylor has more than 20 years of finance experience in various roles. In a post-storm legislative hearing, Magness responded to one lawmaker who asked, How can we do better? by saying, Yall made us. Mr. Taylor has a BBA from the University of Michigan. 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. 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 TPR was founded by and is supported by our community. Jones was formerly a top executive at ERCOT before leaving to head up the grid operator in New York. Magness is leaving as ERCOT faces a $2.5 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. Betty Day was named Vice President of Security & Compliance and Chief Compliance Officer in 2019 after serving in various executive roles since 2011. 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. If you'd like to sign up now, fill out the form below and we will add you as soon as we finish the transition. Before his career in the regulated utility industry, Mr. Vegas served in senior leadership positions with IBM, PricewaterhouseCoopers, and Andersen Consulting. To do here at ERCOT before leaving to head up the grid operator in New York.. Intend to do here at ERCOT the finance department at the beginning of March and four other directors resigned 23... Walking a fine line Marilyn Brachman Hoffman Foundation the regulated Utility industry, mr. is. Were adequately preparing their facilities for winter weather fantastic job of getting ready for this profile October 2015, Taylor. Op-Ed is part of a series published by the Dallas Morning news Opinion section to explore ideas and for! 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