Board members voted 6-1, with two abstaining, in favor of serving Magness with his notice. 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. I commend the ERCOT Board for confirming a leader of Brads caliber as interim CEO, said PUC Chairman Peter Lake in a release statement. Vice President and Chief Information Officer. During her tenure at ERCOT,she has served in various roles focused on developing relationships both internal and external to the organization. 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 Prior to becoming President and CEO of the New York ISO, Brad served as Senior Vice President and Chief Operations Officer for the Electric Reliability Council of Texas. 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?. 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. 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. 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. Only three facilities this year failed to meet ERCOTs expectations for winter preparations, Jones told the town hall audience. 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. 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. 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.. March 11, 2021 / 3:16 PM / CBS DFW. Unfortunately, he said, ERCOTs push for affordability over reliability finally caught up to it in February 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 **Please note** If you are already signed up for the newsletter, you do not need to sign up again. 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. Mr. Black leads the organizations external communications, government affairs, and customer support and oversees communications with Texans, state agencies, and lawmakers. Mr. gelman served as Chairman of the ERCOT Technical Advisory Committee from 2011 to 2013. Mr. Black holds a bachelors degree from the University of Texas at San Antonio. 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. Dozens of insurance companies have also filed suit. The Texas Public Utility Commission chair followed suit March 1. Senior Vice President and Chief Administrative Officer, Chief of Staff. read more. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. 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, 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 agency is also focusing on improving its communications so that customers get a single message and not four or five messages that are conflicting from their energy provider and the state, he said. 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. 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. Brad Jones will fill the role in an interim capacity in early May. 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. Jones was formerly a top executive at ERCOT before leaving to head up the grid operator in New York. Houston Public Media is supported with your gifts to the Houston Public Media Foundation and is licensed to the University of Houston. Jones will assist Adrianne Brandt, the agencys new director, in her new role. Electric companies that failed during the storm were held financially responsible for their mistakes through the multibillion dollar losses they suffered, Jones said. 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." 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. Dramatically shifting our power grid to cleaner energy is a good thing, but its only a politicians promise without electricity experts who know how to build a system to make it so. RELATED: Terminated ERCOT CEO says he won't seek or accept severance pay. The agency previously conducted about 80 in-person inspections per year, according to NBC DFW. Box 13326, Austin, TX 78711-3326 Fax 512-936-7003 News Release Contact: Andrew Barlow March 11, 2021 media@puc.texas.gov The board gave Bill Magness a 60-day termination notice at the beginning of March. 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. 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. You could change us.. By Hannah Brol On one hand, there have been six times in the past year that using RUCs have enabled the operator to avoid declaring grid emergencies. According to his LinkedIn page, he left for retirement after three years. Notifications can be turned off anytime in the browser settings. To View The Rest of This Article Please Visit kvue.com Get smart opinions on the topics North Texans care about. "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. He acknowledged that the matter of $3 billion in unpaid bills for power market trades will need to be settled. ERCOT doesnt have the power to mandate major changes. 05:24. 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. Kenan gelman isERCOTs Vice President of Commercial Operations, overseeing Market Operations, Settlement and Retail Operations, and Market Design and Development. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. read more. While with NiSource, he was also chairman on the board of directors for One Columbus and a board of trustees member for the American Gas Foundation. 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. 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. 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. The generators did a fantastic job of getting ready for this, and were seeing that today, Jones said. What I intend to do here at ERCOT is the very same thing, Jones said of his experience in New York. The interim CEO of the Electric Reliability Council of Texas (ERCOT) has publicly revealed hes pro-Bitcoin. 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. Vice President, System Planning and Weatherization. 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. Brad Jones Summary Overview CB Rank (Person) 23,869 Primary Job Title Senior Vice President and Chief Operations Officer Primary Organization ERCOT Gender We manage the flow of electric power to more than 26 million Texas customers -- representing 90 percent of the state's Generators, the grid operator and politicians have clashed over who is to blame, pointing fingers at power plants that didnt prepare for winter, Texass highly deregulated power market, frozen natural gas wells and issues with the grid itself. 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, Corporate Strategy and PUC Relations. Jones should listen to a range of voices on improving reliability. 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. Ercots chair and four other directors resigned Feb. 23, while two other board members resigned in the following days. 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. Jones was once Ercots chief operating officer, and is a Texan. 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. 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. He earned both a BS in electrical engineering and an MBA from Texas A&M University. Ms. Day joined ERCOT in 2000 and has more than 30 years of experience in the electric power industry. Box 65, Fort Worth, TX 76101, natural gas production in Texas dropped significantly, recommendations from the Federal Energy Regulatory Commission. Vice President and Chief Financial Officer. Robert Black joined ERCOT as Vice President of Public Affairs in November 2022 with more than three decades of political and government experience. At least 111 Texans died as a result of the disaster, according to numbers released in March by the Department of State Health Services. 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. The industry leader for online information for tax, accounting and finance professionals. 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. We're in the process of transitioning services for our Today in Houston newsletter. 1996-2023 Electric Reliability Council of Texas, Inc. All rights reserved. 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.. His previous experience within ERCOT includes serving as Chief of Staff and as Interim Chief Operating Officer. 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. Mr. Taylor has more than 20 years of finance experience in various roles. 2023 Fortune Media IP Limited. Prior to joining ERCOT, she was with Central Maine Power as part of a core team to implement market deregulation in Maine. She has over 20 years of experience in the electric industry. 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. 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. 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 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. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. Previously, she spent nine years with East Kentucky Power Cooperative in the areas of load forecasting, load research, and market research. Dominic Anthony Walsh can be reached at Dominic@TPR.org and on Twitter at @_DominicAnthony, Texas Public Radio | A licensed professional engineer, Mr. Rickerson has worked for utilities in Texas, Arizona, and New Mexico. Industry insiders will be pounding on his door, but he should seek counsel from consumers, city emergency officials, health professionals and environmental experts, too. He spent years developing generation and working with regulators for TXU, and he spent years in top roles at ERCOT. 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 (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.). She earned bachelors degrees in mathematics and physics from Berea College in Kentucky and attended graduate school at the University of Kentucky. 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. WebIf the problem persists, contact the ERCOT Service Desk at ServiceDesk@ercot.com or 1-866-870-8124. She is also responsible for ERCOT Market Rule development and facilitating the ERCOT stakeholder process. He has lived in Austin since 2002 and is happily married with two daughters. During a cold spell earlier this month, natural gas production in Texas dropped significantly, but ERCOT did not report any significant power outages. Im not sure being connected to a bigger grid would actually have less chance of causing a problem, Capriglione said. After so many angry Texans became armchair electricity experts on social media during the February freeze, this state could use some tethering to reality. Texans can be confident that the grid is more prepared than ever before, he added. There, he oversaw Commercial Operations and Grid Planning and Operations. 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. He didnt immediately respond to a LinkedIn message. Hannah covers education, local government, transportation, business, real estate development and nonprofits in these communities. His work examines the institutions and policies affecting millions of students and families across Texas, with a focus on Houston home to the largest school district in the state. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. 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. 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. The Chief Audit Executive who manages the Internal Audit department administratively reports to Mr. Seely. Mr. Woodfin has over 30 years of experience in the electric power industry, including leadership positions in both system planning and system operations for ERCOT. Mara Spak is Vice President of Human Resources at ERCOT. 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. Mr. Rickerson is responsible for guiding new, in-depth generation inspections and coordinating enforcement actions with the Public Utility Commission. 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 Ercot cannot come up with financing to cover the underpayments, the debt could end up being shared by everyone in the Texas market, including consumers. He is a former board member of March of Dimes, Gulf Coast Power Association, Atlas Scholars, and St. Peters Health Partners. Read more about our editorial independence policyhere. Previously, Brad was a Director, Information Technol Read More Peak demand for electricity during the freeze reached nearly 10 megawatts above what ERCOT forecast. Prior to joining ERCOT, she worked in hi-tech and healthcare industries. 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 was formerly a top executive at ERCOT before leaving to head up the grid operator in New York. I expect for that plan to be very specific and very aggressive, he said. 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 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. Additionally, he spent time in Washington, DC working in the Majority Leaders office and the Committee on Ways and Means. So far, 125 deaths across the state have been attributed to the storm and power outage. 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. 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. The so-called passport program will increase the reliability of renewable energy through battery storage, among other initiatives. It should give you great confidence that were managing this grid in a much more reliable way. 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. Andrew Cuomo set out an ambitious goal to shift power generation in the state to 50% renewable by 2030. Prior to working at LCRA, Mr. Taylor was a consultant performing mergers and acquisition advisory services at PricewaterhouseCoopers in New York City. Their inspectors found 10 potential deficiencies at power plants and six at electric transmission facilities, most of which were resolved. He comes to the Bayou City after Let the Houston Public Media newsroom help you start your day. 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. He currently resides in Lansing. 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.. Newsroom help you start your Day great confidence that were managing this grid in a much more reliable way Jones. 50 % renewable by 2030 brad jones ercot net worth pay or accept severance pay served in roles! 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