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 He was an early favorite to replace the embattled CEO and president, Bill Magness, who served in the position for half a decade. Board members voted 6-1, with two abstaining, in favor of serving Magness with his notice. 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. Hannah joined Community Impact Newspaper as a reporter in May 2016 after graduating with a degree in journalism from Sam Houston State University in Huntsville, 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. On Tuesday night, Jones tuned in virtually for a town hall with voters and Republican officials based in Tarrant County. Prior to joining ERCOT, she worked in hi-tech and healthcare industries. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. 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. I commend the ERCOT Board for confirming a leader of Brads caliber as interim CEO, said PUC Chairman Peter Lake in a release statement. 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 has over 35 years of experience in the electric energy industry. 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. 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. 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. 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. 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. 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. Vice President and Chief Financial Officer. April 27, 2021 Updated: April 27, 2021 6:24 p.m. Jones will assist Adrianne Brandt, the agencys new director, in her new role. 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. Houston Public Media is supported with your gifts to the Houston Public Media Foundation and is licensed to the University of Houston. 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They resigned because legislatively, we said, heres what were going to do. He released a statement following the announcement on Tuesday, saying he would "work to restore ERCOT's reputation as that reliable and trustworthy driver of our grid and the economy.". 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. Brad Jones, Ercots interim chief executive officer, is aware hes walking a fine line. Get highlights, trending news, and behind-the-scenes insights from Houston Public Media delivered to your inbox each week. 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. Rickerson is responsible for guiding new, in-depth generation inspections and coordinating enforcement actions with the Public Utility Commission. During her tenure at ERCOT,she has served in various roles focused on developing relationships both internal and external to the organization. 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. 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. 1996-2023 Electric Reliability Council of Texas, Inc. All rights reserved. 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. During his time at Siemens, he served as the Lead Architect for delivering mission-critical solutions to ISO/RTOs, like PJM and CAISO. 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. AUSTIN, Texas Updated at 5:27 p.m. with a statement from the interim CEO. They took until November to send us a list of recommendations for how to deal with the cold weather from Uri, Jones said. He spent years developing generation and working with regulators for TXU, and he spent years in top roles at ERCOT. Brad Jones will fill the role in an interim capacity in early May. Jones should listen to a range of voices on improving reliability. **Please note** If you are already signed up for the newsletter, you do not need to sign up again. 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. 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. 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. There were a lot of channels, and we simply werent doing a good job, he said of the companys communications efforts during the freeze. Vice President and Chief Information Officer. 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. Electric companies that failed during the storm were held financially responsible for their mistakes through the multibillion dollar losses they suffered, Jones 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. Jones was formerly a top executive at ERCOT before leaving to head up the grid operator in New In 2019, Ms. Spak was promoted to Senior Director of Human Resources at ERCOT and was responsible for all Human Resource functions and programs. At this point, Jones said there are three components to his trust plan. 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. Dozens of insurance companies have also filed suit. However, Magness has told Ercots board he wont seek or accept a severance, according to a statement. He didnt immediately respond to a LinkedIn message. 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 development of those rules was really done by a broad group of diverse participants in the marketplace, including consumers, Jones said. So far, 125 deaths across the state have been attributed to the storm and power outage. 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. State Sen. Kelly Hancock and state Rep. Giovanni Capriglione also answered questions read by County Commissioner Gary Fickes. 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. 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.. Chad V. Seely is Senior Vice President, General Counsel, and Corporate Secretary for ERCOT and has been serving as General Counsel since January 1, 2016. Jones was formerly a top executive at ERCOT before leaving to head up the grid operator in New York. He also previously served as the Vice President for Grid Control at Omnetric Group, which was formed as a joint venture between Siemens and Accenture to drive IT/OT convergence in the power industry. The Texas Public Utility Commission chair followed suit March 1. Brad Jones Summary Overview CB Rank (Person) 23,869 Primary Job Title Senior Vice President and Chief Operations Officer Primary Organization ERCOT Gender Mr. Seely oversees state and federal policy and manages the overall litigation strategy of ERCOT. Posted: Apr 27, 2021 / 02:41 PM CDT. read more. All quotes delayed a minimum of 15 minutes. 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. Mr. Seely has been with ERCOT since May 2005. ERCOT Verified account @ERCOT_ISO. Send a letter to the editor and you just might get published. 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?. He acknowledged that the matter of $3 billion in unpaid bills for power market trades will need to be settled. 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. Jones, who worked for Texas energy companies and in senior roles at ERCOT before leading New York states power grid operator as president, takes Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. He played a key role in the development of ERCOT energy and Terms & Conditions. 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 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. 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. 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. 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.. 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. 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. Her position is supported by a grant fromthe Marilyn Brachman Hoffman Foundation. To View The Rest of This Article Please Visit kvue.com 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. But some of the biggest threats to the grids stability are outside of ERCOTs control. TPR was founded by and is supported by our community. Brad Jones (born April 1, 1986) is famous for being football player. Mara Spak is Vice President of Human Resources at ERCOT. The commission is in the process of establishing new bylaws that could alleviate those issues, he added. Prior to joining ERCOT, she was with Central Maine Power as part of a core team to implement market deregulation in Maine. 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. 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. Jones has been to many rodeos. All Rights Reserved. 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. 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. During a cold spell earlier this month, natural gas production in Texas dropped significantly, but ERCOT did not report any significant power outages. His previous experience within ERCOT includes serving as Chief of Staff and as Interim Chief Operating Officer. Brad Jones will fill the role in an interim capacity in early May. 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. August 8, 2022 Executive Employment Agreement. 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. And he said an important component of better communications is better relationships with the Public Utility Commission, the Texas Division of Emergency Management, the Railroad Commission, which regulates production of natural gas often used in power generation, and others. While Jones was in New York, Gov. Mr. Taylor is a veteran of the U.S. Army, where he served as a forward observer. 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 Find the full series here: Keeping the Lights On. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. Mr. gelman served as Chairman of the ERCOT Technical Advisory Committee from 2011 to 2013. This article was originally published byFort Worth Report. The Texas legislature oversees all of the organizations, and its efforts to mandate weatherization have stalled. Dow and X-energy to build U.S. Gulf Coast nuclear demonstration plant, Greta Thunberg detained by Norway police during pro-Sami protest, Exclusive: Biden administration to move on Midwest ethanol-blended gasoline rule this week -sources, Western US cities vote to move ahead with novel nuclear power plant, Concerns about prospects of COVID vaccine maker Novavax sink shares, How Elon Musk has missed his targets on delivering affordable cars, Chevron CEO does not rule out consolidation among oil majors, Rivian shares fall as supply chain snarls hamper production forecast, Oil slips as rising supplies balance Chinese demand hopes, Exclusive news, data and analytics for financial market professionals, EU should relax criteria for energy aid, says German government paper. 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. 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. Third is better dialogue on needed technical changes in the power market and 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. WebIf the problem persists, contact the ERCOT Service Desk at ServiceDesk@ercot.com or 1-866-870-8124. 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. 05:24. Industry veteran Brad Jones is taking over as interim president and CEO of the Peak demand for electricity during the freeze reached nearly 10 megawatts above what ERCOT forecast. Unfortunately, he said, ERCOTs push for affordability over reliability finally caught up to it in February 2021. 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). 1996-2023 Electric Reliability Council of Texas, Inc. All rights reserved. Creating the original set of protocols that everyone could live with was surely good training for updating those protocols now. 2023 Fortune Media IP Limited. 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. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. He earned both a BS in electrical engineering and an MBA from Texas A&M University. Greg Abbott. 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. Get smart opinions on the topics North Texans care about. That included more inspections and assurances from power companies that they were adequately preparing their facilities for winter weather. For example, power plants were weatherized this winter, but for the ice storm of 2011, he said. He brings the right combination of ERCOT knowledge and broad industry expertise needed to provide the stability and reliability that Texans expect and deserve.. 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. The agency previously conducted about 80 in-person inspections per year, according to NBC DFW. Jones was once Ercots chief operating officer, and is a Texan. Andrew Cuomo set out an ambitious goal to shift power generation in the state to 50% renewable by 2030. Im not sure being connected to a bigger grid would actually have less chance of causing a problem, Capriglione said. 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. 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." Second, he plans to improve communication. Jones' appointment is effective May 4, and will last until the position is filled, up to a year, according to ERCOT. Jones has also previously served as president and CEO of the New York Independent System Operator from October 2015 to October 2018. 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. She has over 20 years of experience in the electric industry. 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. read more. 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. Only three facilities this year failed to meet ERCOTs expectations for winter preparations, Jones told the town hall audience. Industry insiders will be pounding on his door, but he should seek counsel from consumers, city emergency officials, health professionals and environmental experts, too. The unprecedented outages caused as much as $129 billion in economic losses. Dominic Anthony Walsh can be reached at Dominic@TPR.org and on Twitter at @_DominicAnthony, Texas Public Radio | 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. After so many angry Texans became armchair electricity experts on social media during the February freeze, this state could use some tethering to reality. ERCOT announced that four of its board members resigned Wednesday, Feb. 24 following its board meeting, and a fifth board member separately submitted her resignation. 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. FORTUNE may receive compensation for some links to products and services on this website. 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