| He currently resides in Lansing. Texans can be confident that the grid is more prepared than ever before, he added. Brad Jones will fill the role in an interim capacity in early May. Trust with electricity companies, trust with lawmakers, and trust, most crucially, with regular Texans. He wasnt ready to say if he is leaning to one idea or another. 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. Unfortunately, he said, ERCOTs push for affordability over reliability finally caught up to it in February 2021. Her current responsibilities include Security (Cyber and Physical), Compliance, and Facilities. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. He is a licensed CPA in Texas and New York and a Chartered Financial Analyst Charterholder. 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.. 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. 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. 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. However, Magness has told Ercots board he wont seek or accept a severance, according to a statement. 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. Her position is supported by a grant fromthe Marilyn Brachman Hoffman Foundation. Brad Jones will fill the role in an interim capacity in early May. Brad Jones will fill the role in an interim capacity in early May. WebPublic Utility Commission of Texas 1701 N. Congress, P.O. He didnt immediately respond to a LinkedIn message. 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. WebHis previous experience within ERCOT includes serving as Chief of Staff and as Interim Chief Operating Officer. Businesses are coming here, more people are moving to Texas, so we have to continue to grow, Jones said. (Courtesy Public Utility Commission of Texas), Editor, Spring/Klein & Lake Houston/Humble/Kingwood. Jones was once Ercots chief operating officer, and is a Texan. 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. Jones should listen to a range of voices on improving reliability. She has over 20 years of experience in the electric industry. Jones' appointment is effective May 4, and will last until the position is filled, up to a year, according to ERCOT. They took until November to send us a list of recommendations for how to deal with the cold weather from Uri, Jones said. Dozens of insurance companies have also filed suit. Too bad for New York, because a grid executive who can tether political ambitions to physical reality is an asset. It should give you great confidence that were managing this grid in a much more reliable way. 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. The Electric Reliability Council of Texas hired an old hand as its interim chief executive. Jones will assist Adrianne Brandt, the agencys new director, in her new role. 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. Jayapal Parakkuth has over 25 years of experience in successfully visualizing, designing, and implementing software solutions to various aspects of power system grid control. 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. 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. I expect for that plan to be very specific and very aggressive, he said. 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. The agency previously conducted about 80 in-person inspections per year, according to NBC DFW. He comes to the Bayou City after Let the Houston Public Media newsroom help you start your day. Box 13326, Austin, TX 78711-3326 Fax 512-936-7003 News Release Contact: Andrew Barlow March 11, 2021 media@puc.texas.gov Box 65, Fort Worth, TX 76101, natural gas production in Texas dropped significantly, recommendations from the Federal Energy Regulatory Commission. RELATED: Terminated ERCOT CEO says he won't seek or accept severance pay. 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. There, he oversaw Commercial Operations and Grid Planning and Operations. Tags electricity grid ercot Texas Legislature Texas power grid winter freeze. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. According to the release, Brandt will be assisted by fellow Texan Brad Jones, who previously served as chief operations officer of ERCOT. 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 "Over the next few weeks, I will be meeting with ERCOT staff, elected officials and leaders of various state agencies and developing a 100-day strategic plan to present to state officials and the public. 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 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. He earned both a BS in electrical engineering and an MBA from Texas A&M University. 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. 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. The Chief Audit Executive who manages the Internal Audit department administratively reports to Mr. Seely. Prior to joining ERCOT, she worked in hi-tech and healthcare industries. Robert Black joined ERCOT as Vice President of Public Affairs in November 2022 with more than three decades of political and government experience. The Commission named Adrianne Brandt director of ERCOT Inc. accountability, and former ERCOT COO Brad Jones will assist her in a consultant role, the PUC said March 11. She is a former opinion editor on the editorial board and energy reporter for the business section. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. April 27, 2021 Updated: April 27, 2021 6:24 p.m. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. Senior Vice President and Chief Administrative Officer, Chief of Staff. And theres another point on Jones rsum that should give Texans confidence in him. Jones was formerly a top executive at ERCOT before leaving to head up the grid operator in New York. More than 4 million Texas homes and businesses were without power over several days of bitter cold. The effect of being connected to another power grid would have been negligible during the storm, Jones said, because power supplies from the far east would have been consumed by states around Texas also experiencing electricity issues before it reached Texans. The board of directors gave CEO Bill Magness a 60-day termination notice in early March, weeks after the deadly storm. 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. 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We're in the process of transitioning services for our Today in Houston newsletter. Mr. Rickerson brings a considerable amount of electric industry experience to his position, including more than 19 years at ERCOT in various roles. What I intend to do here at ERCOT is the very same thing, Jones said of his experience in New York. The development of those rules was really done by a broad group of diverse participants in the marketplace, including consumers, Jones said. 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. First, he said, ERCOT needs stabilizing, the company itself and the market participants. The generators did a fantastic job of getting ready for this, and were seeing that today, Jones said. This article was originally published byFort Worth Report. 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. All rights reserved. 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.. Elizabeth Souder is commentary and Sunday Opinion editor and a member of the editorial board. 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 was formerly a top executive at ERCOT before leaving to head up the grid operator in New 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. In a post-storm legislative hearing, Magness responded to one lawmaker who asked, How can we do better? by saying, Yall made us. 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. This caused some friction with the governors office, and Jones soon returned to Texas. MacKenzie Sigalos. read more. 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. 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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.". **Please note** If you are already signed up for the newsletter, you do not need to sign up again. 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. 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. He has over 35 years of experience in the electric energy industry. Jones will serve beginning May 4. 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. 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. But some of the biggest threats to the grids stability are outside of ERCOTs control. Prior to joining ERCOT, he served as Principal Key Expert for Grid Control at Siemens Digital Grid, specializing in delivering high-risk, complex projects working with both the product and delivery organization at Siemens. 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. 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. Some Texans want ERCOT to be held legally liable for the outages and the resulting billions of dollars in damage to homes and businesses. There is no recent news or activity for this profile. 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. 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. We manage the flow of electric power to more than 26 million Texas customers -- representing 90 percent of the state's FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. 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. The interim CEO of the Electric Reliability Council of Texas (ERCOT) has publicly revealed hes pro-Bitcoin. That represents money owed by wholesale buyers to power generators who sold electricity at the market cap rate during the freeze. read more. Elizabeth Souder. Dominic Anthony Walsh covers education & families for Houston Public Media's enterprise team. 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. The plan will put ERCOT on a solid foundation for providing reliable electric service year-round," Jones said in part. 1996-2023 Electric Reliability Council of Texas, Inc. All rights reserved. At the Fort Worth Report, news decisions are made independently of our board members and financial supporters. Prior to CI, Hannah served as associate editor of The Houstonian, interned with Community Impact Newspaper and spent time writing for the Sam Houston State University College of Fine Arts and Mass Communication and The Huntsville Item. Prior to working at LCRA, Mr. Taylor was a consultant performing mergers and acquisition advisory services at PricewaterhouseCoopers in New York City. A licensed professional engineer, Mr. Rickerson has worked for utilities in Texas, Arizona, and New Mexico. Mara Spak is Vice President of Human Resources at ERCOT. Haley Samsel is the environmental reporter for the Fort Worth Report. 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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. Mr. Taylor has more than 20 years of finance experience in various roles. 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. Example video title will go here for this video. Jones has also 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. 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. 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. He was an early favorite to replace the embattled CEO and president, Bill Magness, who served in the position for half a decade. Ms. Spak graduated from Southwestern University with a BA in psychology. 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. 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 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. Last summer, ERCOT released a 60-item list of reforms the agency was undertaking to improve its broken trust with Texans. ERCOTs previous chief executive was fired following the storm, and every commissioner serving on the Public Utility Commission resigned as well, Jones said. Ms. Day joined ERCOT in 2000 and has more than 30 years of experience in the electric power industry. Mr. Taylor has a BBA from the University of Michigan. Mr. Black also served as the Director of Governmental Affairs for the AEP companies in Texas. State Sen. Kelly Hancock and state Rep. Giovanni Capriglione also answered questions read by County Commissioner Gary Fickes. Additionally, he spent time in Washington, DC working in the Majority Leaders office and the Committee on Ways and Means. Magnessjoined Ercotin 2010, and hes led the grid operator since 2016. 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. There will be times that we need to speak frankly at ERCOT about what needs to occur to preserve reliability.. 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. 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. 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. Mr. Black began his career in 1990 as a legislative assistant for Representative Tom Craddick in the Texas House of Representatives and later worked for two Texas State Senators. 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. Jones defended the design of Texas electricity market and power grid. Powered and implemented by Interactive Data Managed Solutions. Mr. Seely has been with ERCOT since May 2005. By Hannah Brol Clima en Dallas Fort Worth ahora: Desde clima clido hasta fuertes tormentas. (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.). Mr. Black leads the organizations external communications, government affairs, and customer support and oversees communications with Texans, state agencies, and lawmakers. Why would a CEO in his 50s retire? During his time at Siemens, he served as the Lead Architect for delivering mission-critical solutions to ISO/RTOs, like PJM and CAISO. Im not sure being connected to a bigger grid would actually have less chance of causing a problem, Capriglione said. 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. 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. 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?. You could change us.. She earned bachelors degrees in mathematics and physics from Berea College in Kentucky and attended graduate school at the University of Kentucky. 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