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 On Tuesday night, Jones tuned in virtually for a town hall with voters and Republican officials based in Tarrant County. 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. It crippled oil and gas production, and dozens of people died. Prior to working at LCRA, Mr. Taylor was a consultant performing mergers and acquisition advisory services at PricewaterhouseCoopers in New York City. 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. He acknowledged that the matter of $3 billion in unpaid bills for power market trades will need to be settled. He has over 35 years of experience in the electric energy industry. 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He currently resides in Lansing. He played a key role in the development of ERCOT energy and market systems, as well as risk management and strategic planning. At that rate, ERCOT might finally be finished paying for this years outages by the end of the century. 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. Kristi Hobbs is ERCOTs Vice President of Corporate Strategy and PUC Relations. 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 has also previously served as president and CEO of the New York Independent System Operator from October 2015 to October 2018. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. Mr. Seely has been with ERCOT since May 2005. Esto es lo que necesita saber para esta semana. 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. He earned both a BS in electrical engineering and an MBA from Texas A&M University. That included more inspections and assurances from power companies that they were adequately preparing their facilities for winter weather. 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. 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. This caused some friction with the governors office, and Jones soon returned to Texas. 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. All of those members lived out of state, records show. Vice President, System Planning and Weatherization. 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. He spent years developing generation and working with regulators for TXU, and he spent years in top roles at ERCOT. 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. 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. Jones did not address the litigation during the town hall. 1996-2023 Electric Reliability Council of Texas, Inc. All rights reserved. 4:45 PM Mar 11, 2021 CST The development of those rules was really done by a broad group of diverse participants in the marketplace, including consumers, Jones said. 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. Board members voted 6-1, with two abstaining, in favor of serving Magness with his notice. Example video title will go here for this video. If past experience is any indication of future performance, he will. There, he oversaw Commercial Operations and Grid Planning and Operations. The interim CEO of the Electric Reliability Council of Texas (ERCOT) has publicly revealed hes pro-Bitcoin. 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. However, Magness has told Ercots board he wont seek or accept a severance, according to a statement. 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. Power move: ERCOT appoints Brad Jones as interim president/CEO in wake of Magness termination by: Russell Falcon. Brad Jones of Liberty Hill is the Interim CEO of ERCOT. Last summer, ERCOT released a 60-item list of reforms the agency was undertaking to improve its broken trust with Texans. Jones has also 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. Brad Jones (born April 1, 1986) is famous for being football player. Prior to joining ERCOT, she worked in hi-tech and healthcare industries. DETAILS BELOW. 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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. He is a former board member of March of Dimes, Gulf Coast Power Association, Atlas Scholars, and St. Peters Health Partners. 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. 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. Jones should listen to a range of voices on improving reliability. Previously, she spent nine years with East Kentucky Power Cooperative in the areas of load forecasting, load research, and market research. 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. 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. Elizabeth is an editor on the breaking news desk. Magness is leaving as ERCOT faces a $2.5 Magnessjoined Ercotin 2010, and hes led the grid operator since 2016. 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. Her current responsibilities include Security (Cyber and Physical), Compliance, and Facilities. Prior to joining ERCOT, she was with Central Maine Power as part of a core team to implement market deregulation in Maine. She earned bachelors degrees in mathematics and physics from Berea College in Kentucky and attended graduate school at the University of Kentucky. Brad Jones will fill the role in an interim capacity in early May. 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. 2023 Fortune Media IP Limited. Jones has been to many rodeos. 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. Creating the original set of protocols that everyone could live with was surely good training for updating those protocols now. 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. 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. Mr. Rickerson is responsible for guiding new, in-depth generation inspections and coordinating enforcement actions with the Public Utility Commission. March 11, 2021 / 3:16 PM / CBS DFW. Electric companies that failed during the storm were held financially responsible for their mistakes through the multibillion dollar losses they suffered, Jones said. Jones' appointment is effective May 4, and will last until the position is filled, up to a year, according to ERCOT. During her tenure at ERCOT,she has served in various roles focused on developing relationships both internal and external to the organization. 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. 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. He also served as the president and CEO of the New York Independent System Operator from October 2015 to October 2018. 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. Jones was formerly a top executive at ERCOT before leaving to head up the grid operator in New 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. Industry veteran Brad Jones is taking over as interim president and CEO of the The Texas legislature oversees all of the organizations, and its efforts to mandate weatherization have stalled. Dozens of insurance companies have also filed suit. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. Got an opinion about this issue? The commission is in the process of establishing new bylaws that could alleviate those issues, he added. Senior Vice President, General Counsel and Corporate Secretary. read more. Jones most recent job was chief executive of the New York Independent System Operator, which, similar to ERCOT, operates the New York state electrical grid. 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.". State Sen. Kelly Hancock and state Rep. Giovanni Capriglione also answered questions read by County Commissioner Gary Fickes. During his time at Siemens, he served as the Lead Architect for delivering mission-critical solutions to ISO/RTOs, like PJM and CAISO. Jones, who worked for Texas energy companies and in senior roles at ERCOT before leading New York states power grid operator as president, takes Prior to joining ERCOT, he served as Vice President of External Affairs for AEP Texas. WebHis previous experience within ERCOT includes serving as Chief of Staff and as Interim Chief Operating Officer. Box 65, Fort Worth, TX 76101, natural gas production in Texas dropped significantly, recommendations from the Federal Energy Regulatory Commission. Offers may be subject to change without notice. Posted: Apr 27, 2021 / 02:41 PM CDT. Mr. Black leads the organizations external communications, government affairs, and customer support and oversees communications with Texans, state agencies, and lawmakers. Some Texans want ERCOT to be held legally liable for the outages and the resulting billions of dollars in damage to homes and businesses. According to his LinkedIn page, he left for retirement after three years. 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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. 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. 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). April 27, 2021 Updated: April 27, 2021 6:24 p.m. 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. Unfortunately, he said, ERCOTs push for affordability over reliability finally caught up to it in February 2021. 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. In 2019, Ms. Spak was promoted to Senior Director of Human Resources at ERCOT and was responsible for all Human Resource functions and programs. Mr. Taylor is a veteran of the U.S. Army, where he served as a forward observer. Businesses are coming here, more people are moving to Texas, so we have to continue to grow, Jones said. It was championed by Magness, who is leaving just as the first stages are rolled out. 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. Elizabeth Souder. 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. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. Her position is supported by a grant fromthe Marilyn Brachman Hoffman Foundation. WebAs of 2022, Brad Joness net worth is $100,000 - $1M. Andrew Cuomo set out an ambitious goal to shift power generation in the state to 50% renewable by 2030. And that should give Texans hope that they wont have to spend the summer digging survival bunkers and stocking up on batteries and trail mix. Jones will serve beginning May 4. 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. 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. Trust with electricity companies, trust with lawmakers, and trust, most crucially, with regular Texans. 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. He has a long history of service in both the electric and gas industries. She has over 20 years of experience in the electric industry. 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. Before his career in the regulated utility industry, Mr. Vegas served in senior leadership positions with IBM, PricewaterhouseCoopers, and Andersen Consulting. Senior Vice President and Chief Administrative Officer, Chief of Staff. Your subscription will be migrated over. He didnt immediately respond to a LinkedIn message. 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. Terms & Conditions. Updated 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. 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. 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.. Jones will assist Adrianne Brandt, the agencys new director, in her new role. He earned his bachelors degree in electrical engineering from the Victoria Jubilee Technical Institute, Bombay. The Electric Reliability Council of Texas' board of directors on Tuesday appointed Brad Jones as interim president and CEO. 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. You could change us.. Fort Worth Business Press Read more about our editorial independence policyhere. That represents money owed by wholesale buyers to power generators who sold electricity at the market cap rate during the freeze. 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. ERCOTs previous chief executive was fired following the storm, and every commissioner serving on the Public Utility Commission resigned as well, Jones said. 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 holds a bachelors degree from the University of Texas at San Antonio. In addition, Mr. Seely is responsible for the leadership of the Compliance, Cyber Security, Physical Security, Facilities and Information Governance departments. 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. He was active with the Texas Reliability Entity, Edison Electric Institute and the FutureGen Industrial Alliance. Ms. Day joined ERCOT in 2000 and has more than 30 years of experience in the electric power industry. Third is better dialogue on needed technical changes in the power market and ERCOT. 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. The industry leader for online information for tax, accounting and finance professionals. The scene in North Austin on Feb. 16, 2021, following the devastating winter storm. She is a former opinion editor on the editorial board and energy reporter for the business section. But one thing the crisis does is it opens the opportunity for, I would hope, the legislature and the PUC and the Railroad Commission to understand that there is a serious issue here with gas supply, and now it needs to be solved.. To View The Rest of This Article Please Visit kvue.com He wasnt ready to say if he is leaning to one idea or another. P.O. 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. Jayapal Parakkuth has over 25 years of experience in successfully visualizing, designing, and implementing software solutions to various aspects of power system grid control. We're in the process of transitioning services for our Today in Houston newsletter. He comes to the Bayou City after Let the Houston Public Media newsroom help you start your day. The board of directors gave CEO Bill Magness a 60-day termination notice in early March, weeks after the deadly storm. AUSTIN, Texas Updated at 5:27 p.m. with a statement from the interim CEO. 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 Jones responded that meeting this goal would require an enormous investment in 1,000 miles of transmission lines, which could take many years to build. 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 The Chief Audit Executive who manages the Internal Audit department administratively reports to Mr. Seely. He said ERCOT and Brad Jones have roles to play as messengers, but that they alone cannot prevent another power failure. 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. 05:24. Dominic Anthony Walsh covers education & families for Houston Public Media's enterprise team. 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. Mr. gelman served as Chairman of the ERCOT Technical Advisory Committee from 2011 to 2013. Brad Jones Summary Overview CB Rank (Person) 23,869 Primary Job Title Senior Vice President and Chief Operations Officer Primary Organization ERCOT Gender The agency previously conducted about 80 in-person inspections per year, according to NBC DFW. He is a member of the Board of Directors of the North American Transmission Forum and has served on various committees of NERC. Ms. Spak has more than 15 years of extensive experience in human resources at diverse corporate entities.