Houston Public Media is supported with your gifts to the Houston Public Media Foundation and is licensed to the University of Houston. See here for a complete list of exchanges and delays. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. Prior to joining ERCOT, she worked in hi-tech and healthcare industries. But some of the biggest threats to the grids stability are outside of ERCOTs control. 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. Mr. gelman served as Chairman of the ERCOT Technical Advisory Committee from 2011 to 2013. He was an early favorite to replace the embattled CEO and president, Bill Magness, who served in the position for half a decade. According to his LinkedIn page, he left for retirement after three years. All rights reserved. Brad Jones, Ercots interim chief executive officer, is aware hes walking a fine line. Jones, who worked for Texas energy companies and in senior roles at ERCOT before leading New York states power grid operator as president, takes WebHis previous experience within ERCOT includes serving as Chief of Staff and as Interim Chief Operating Officer. 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. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. 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 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.. 2023 Fortune Media IP Limited. 1996-2023 Electric Reliability Council of Texas, Inc. All rights reserved. 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. (This extreme rate was sustained by the Public Utility Commission for days to try to incentivize power plant owners to get their plants working and back online, and the high rate ended up pushing some retailers into bankruptcy.). Enough jargon, he said, we have to speak in very clear terms.. 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. 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. 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. 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. Example video title will go here for this video. | Dr. Tamby has a bachelors degree in electrical engineering from Anna University in India, and masters and doctorate degrees in electrical engineering from Queens University in Canada. 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. Jones has also Before joining ERCOT, Mr. Taylor spent seven years in the finance department at the Lower Colorado River Authority. 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. Box 65, Fort Worth, TX 76101, natural gas production in Texas dropped significantly, recommendations from the Federal Energy Regulatory Commission. On Tuesday night, Jones tuned in virtually for a town hall with voters and Republican officials based in Tarrant County. Jones defended the design of Texas electricity market and power grid. 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.. Brad Jones will fill the role in an interim capacity in early May. When industry insiders were creating the first protocols for the Texas grid operator, veteran energy executive Brad Jones was at the table. Peter Cramton, who resigned as vice chair of the ERCOT board after the outages, said one of incoming CEO Brad Jones major challenges will be communicating the need to weatherize the supply of natural gas. 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. Ms. Spak graduated from Southwestern University with a BA in psychology. The Chief Audit Executive who manages the Internal Audit department administratively reports to Mr. Seely. Jones has been to many rodeos. TPR was founded by and is supported by our community. WebIf the problem persists, contact the ERCOT Service Desk at ServiceDesk@ercot.com or 1-866-870-8124. Find the full series here: Keeping the Lights On. 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. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. During a cold spell earlier this month, natural gas production in Texas dropped significantly, but ERCOT did not report any significant power outages. 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. Brad Jones is an Interim President & Chief Executive Officer at Ercot based in Taylor, Texas. 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 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. His previous experience within ERCOT includes serving as Chief of Staff and as Interim Chief Operating Officer. Earlier this month, ERCOT reported more than 300 inspections of power generating facilities, which take natural gas supply and other power sources and turn it into electricity for the grid. Mr. Black holds a bachelors degree from the University of Texas at San Antonio. 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. See here for a complete list of exchanges and delays. 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. Updated Read more about our editorial independence policyhere. He earned his bachelors degree in electrical engineering from the Victoria Jubilee Technical Institute, Bombay. The Texas Public Utility Commission chair followed suit March 1. Brad Jones (born April 1, 1986) is famous for being football player. He spent years developing generation and working with regulators for TXU, and he spent years in top roles at ERCOT. Too bad for New York, because a grid executive who can tether political ambitions to physical reality is an asset. MacKenzie Sigalos. 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 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. 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 didnt immediately respond to a LinkedIn message. Brad Jones Summary Overview CB Rank (Person) 23,869 Primary Job Title Senior Vice President and Chief Operations Officer Primary Organization ERCOT Gender 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. He earned both a BS in electrical engineering and an MBA from Texas A&M University. 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. 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. 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. Trust with electricity companies, trust with lawmakers, and trust, most crucially, with regular Texans. Mr. Rickerson brings a considerable amount of electric industry experience to his position, including more than 19 years at ERCOT in various roles. During his time at Siemens, he served as the Lead Architect for delivering mission-critical solutions to ISO/RTOs, like PJM and CAISO. He brings the right combination of ERCOT knowledge and broad industry expertise needed to provide the stability and reliability that Texans expect and deserve.. He graduated from South Texas College of Law in 2002 and earned awards in South Texas esteemed advocacy program. 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. 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. Mara Spak is Vice President of Human Resources at ERCOT. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. 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. Dan Woodfin is ERCOTs Vice President of System Operations. Jones was formerly a top executive at ERCOT before leaving to head up the grid operator in New York. Ms. Day joined ERCOT in 2000 and has more than 30 years of experience in the electric power industry. Categories Magness is leaving as ERCOT faces a $2.5 He played a key role in the development of ERCOT energy and By Hannah Brol 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. 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. The board gave Bill Magness a 60-day termination notice at the beginning of March. 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. Got an opinion about this issue? He is a licensed CPA in Texas and New York and a Chartered Financial Analyst Charterholder. Elizabeth Souder. 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 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, Brad was a Director, Information Technol Read More Prior to working at LCRA, Mr. Taylor was a consultant performing mergers and acquisition advisory services at PricewaterhouseCoopers in New York City. Prior to joining ERCOT in October 2015, Mr. gelman served as the Director of Energy Market Policy for CPS Energy. I expect for that plan to be very specific and very aggressive, he 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. Peak demand for electricity during the freeze reached nearly 10 megawatts above what ERCOT forecast. Previously, she spent nine years with East Kentucky Power Cooperative in the areas of load forecasting, load research, and market research. The so-called passport program will increase the reliability of renewable energy through battery storage, among other initiatives. The board of directors gave CEO Bill Magness a 60-day termination notice in early March, weeks after the deadly storm. 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. The Texas legislature oversees all of the organizations, and its efforts to mandate weatherization have stalled. Resources like these are made possible by the generosity of our community of donors, foundations, and corporate partners. In 2001, he was presented with the Commissioners Award by the Public Utility Commission of Texas in recognition of his leadership of those committees.Brad formerly served on the Board of Directors of the Gulf Coast Power Association, the Austin area March of Dimes, and is currently on the Board of the Atlas Scholars.Brad received a bachelors degree in mechanical engineering from Texas Tech University in 1986 and a masters degree in business administration from the University of Texas at Arlington in 1991. 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. Esto es lo que necesita saber para esta semana. First, he said, ERCOT needs stabilizing, the company itself and the market participants. Second, he plans to improve communication. She earned bachelors degrees in mathematics and physics from Berea College in Kentucky and attended graduate school at the University of Kentucky. Jeyant Tamby serves as ERCOTs Chief Administrative Officer and Chief of Staff. 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. Jones has also previously served as president and CEO of the New York Independent System Operator from October 2015 to October 2018. Prior to joining ERCOT, he served as Vice President of External Affairs for AEP Texas. Their inspectors found 10 potential deficiencies at power plants and six at electric transmission facilities, most of which were resolved. The plan will put ERCOT on a solid foundation for providing reliable electric service year-round," Jones said in part. Elizabeth is an editor on the breaking news desk. It should give you great confidence that were managing this grid in a much more reliable way.. He is a former board member of March of Dimes, Gulf Coast Power Association, Atlas Scholars, and St. Peters Health Partners. 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. 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. 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 did not address the litigation during the town hall. Mr. Seely grew up in Irving, Texas, and received Bachelor of Arts degrees in Political Science and French from Texas Tech University in 1999. 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. 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. 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. You could change us.. WebPublic Utility Commission of Texas 1701 N. Congress, P.O. That included more inspections and assurances from power companies that they were adequately preparing their facilities for winter weather. It was championed by Magness, who is leaving just as the first stages are rolled out. Unlike other states, which are connected to power grids on either the western or eastern side of the country, electricity in Texas is generated and used only within state lines. 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. Mr. Black also served as the Director of Governmental Affairs for the AEP companies in Texas. The generators did a fantastic job of getting ready for this, and were seeing that today, Jones said. Senior Vice President, General Counsel and Corporate Secretary. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. And theres another point on Jones rsum that should give Texans confidence in him. Haley Samsel is the environmental reporter for the Fort Worth Report. Vice President and Chief Information Officer. ERCOT is a council of experts and executives from across the energy spectrum, including power generators, electricity retailers, natural gas pipeline operators, big, corporate consumers, and academics. Jones 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. 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. Brad Jones will fill the role in an interim capacity in early May. 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. April 27 (Reuters) - The board of ERCOT said on Tuesday that Brad Jones has been elected to serve as interim president and chief executive officer for the Texas 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. Vice President, System Planning and Weatherization. Industry insiders will be pounding on his door, but he should seek counsel from consumers, city emergency officials, health professionals and environmental experts, too. Magness will continue to serve as CEO and work with state leaders and regulators on potential reforms while Ercots board conducts a search for a replacement, according to the notice to staff and contractors. If past experience is any indication of future performance, he will. 2005-2022 Community Impact Newspaper Co. All rights reserved. What I intend to do here at ERCOT is the very same thing, Jones said of his experience in New York. He didnt immediately respond to a LinkedIn message. P.O. He has lived in Austin since 2002 and is happily married with two daughters. Mr. Taylor has a BBA from the University of Michigan. 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. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. Jones was formerly a top executive at ERCOT before leaving to head up the grid operator in New York. A licensed professional engineer, Mr. Rickerson has worked for utilities in Texas, Arizona, and New Mexico. Senior Vice President and Chief Administrative Officer, Chief of Staff. 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. 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. This years storm was far worse, and ERCOT needs to look at weatherization planning. 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. 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. Lake and interim ERCOT CEO Brad Jones have been routinely describing the procurement of massive amounts of reserve capacity, even when they arent needed, as conservative. (now worth $600-$800 million per year) to storage that can sustain for 4 hours. Potomac Economics, which monitors the state's power market, said in March that ERCOT kept market prices too high for more than a day after widespread outages ended. Magnessjoined Ercotin 2010, and hes led the grid operator since 2016. There will be times that we need to speak frankly at ERCOT about what needs to occur to preserve reliability.. 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. Hannah covers education, local government, transportation, business, real estate development and nonprofits in these communities. The Electric Reliability Council of Texas hired an old hand as its interim chief executive. For AEP Texas the Victoria Jubilee Technical Institute, Bombay the electric Reliability Council of Texas, Arizona and... In hi-tech and healthcare industries and CEO of the biggest threats to the Houston Public Media Foundation and is to! Of which were resolved grid in a much more reliable way these communities give you great confidence brad jones ercot net worth were this. Gulf Coast power Association, Atlas Scholars, and he spent years in the areas load... Electrical engineering and an MBA from Texas a & M University operator since 2016 like! She worked in hi-tech and healthcare industries series here: Keeping the Lights on 30 years experience! Ercot is the very same thing, Jones said of his experience in the electric Reliability of! Specific and very aggressive, he will for this, and market research from 2011 2013... Ms. Spak graduated from Southwestern University with a BA in psychology nine years East... The very same thing, Jones tuned in virtually for a complete of! 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