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 Mr. Taylor is a veteran of the U.S. Army, where he served as a forward observer. 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. The unprecedented outages caused as much as $129 billion in economic losses. Senior Vice President, General Counsel and Corporate Secretary. (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.). 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. The Electric Reliability Council of Texas' board of directors on Tuesday appointed Brad Jones as interim president and CEO. That included more inspections and assurances from power companies that they were adequately preparing their facilities for winter weather. By signing up you agree to our Terms of Service and Privacy Policy, Stand with us in our mission to discover and uncover the story of North Texas, The new ERCOT CEO wants to rebuild your trust in the Texas electricity grid, About half-million North Texans lose extra food benefits, Mall owner backs out of plans for paid parking at D-FW shopping center, D-FW under severe thunderstorm watch until noon as quick-moving storm hits region, Frisco trustee goes to conservative radio to defend transgender harassment accusation, Dallas police chief fires officer accused of inappropriate force, suspends different cop, Sean Menke, CEO of Southlake-based travel tech firm Sabre Corp., stepping down, Eli Lilly cuts insulin prices in move to make diabetes medicine more affordable, Texas urges five big pension funds to cut off financial firms boycotting fossil fuels, Shermans semiconductor hub attracts massive land buy for home development, Marriott fires back at Michael Irvins request for expedited evidence in $100M lawsuit, Mexicos democracy is in danger, and we could all pay the price, Conservative groups target American Airlines racial hiring efforts, NFL owners ask Jerry Jones to broker deal with Dan Snyder on Commanders sale, report says. 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). 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. 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. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. Texans can be confident that the grid is more prepared than ever before, he added. He is a former board member of March of Dimes, Gulf Coast Power Association, Atlas Scholars, and St. Peters Health Partners. 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. You could change us.. This article was originally published byFort Worth Report. ERCOT Verified account @ERCOT_ISO. Elizabeth Souder is commentary and Sunday Opinion editor and a member of the editorial board. Jones will assist Adrianne Brandt, the agencys new director, in her new role. **Please note** If you are already signed up for the newsletter, you do not need to sign up again. 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. At least 111 Texans died as a result of the disaster, according to numbers released in March by the Department of State Health Services. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. 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. 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. The development of those rules was really done by a broad group of diverse participants in the marketplace, including consumers, Jones said. August 8, 2022 Executive Employment Agreement. To View The Rest of This Article Please Visit kvue.com Additionally, he spent time in Washington, DC working in the Majority Leaders office and the Committee on Ways and Means. Board members voted 6-1, with two abstaining, in favor of serving Magness with his notice. 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. 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. AUSTIN (CBSDFW.COM) - The Public Utility Commission of Texas today named Adrianne Brandt the agency's new Director of ERCOT, Inc. 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 Jones has also 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. He earned his bachelors degree in electrical engineering from the Victoria Jubilee Technical Institute, Bombay. Our Standards: The Thomson Reuters Trust Principles. Vice President, Corporate Strategy and PUC Relations. | Got an opinion about this issue? 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 played a key role in the development of ERCOT energy and market systems, as well as risk management and strategic planning. Mr. Taylor has more than 20 years of finance experience in various roles. 2005-2022 Community Impact Newspaper Co. All rights reserved. He graduated from South Texas College of Law in 2002 and earned awards in South Texas esteemed advocacy program. 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.. Robert Black joined ERCOT as Vice President of Public Affairs in November 2022 with more than three decades of political and government experience. Trust with electricity companies, trust with lawmakers, and trust, most crucially, with regular Texans. All Rights Reserved. It was championed by Magness, who is leaving just as the first stages are rolled out. Jones will serve beginning May 4. ERCOTs previous chief executive was fired following the storm, and every commissioner serving on the Public Utility Commission resigned as well, Jones said. 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. Previously, she spent nine years with East Kentucky Power Cooperative in the areas of load forecasting, load research, and market research. He currently resides in Lansing. The Texas Public Utility Commission chair followed suit March 1. Ercots chair and four other directors resigned Feb. 23, while two other board members resigned in the following days. 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. Mr. Black leads the organizations external communications, government affairs, and customer support and oversees communications with Texans, state agencies, and lawmakers. 2023 Fortune Media IP Limited. 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. 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. According to his LinkedIn page, he left for retirement after three years. 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. See here for a complete list of exchanges and delays. 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. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. He has over 35 years of experience in the electric energy industry. Your subscription will be migrated over. Elizabeth is an editor on the breaking news desk. Brad Jones is an Interim President & Chief Executive Officer at Ercot based in Taylor, Texas. There were a lot of channels, and we simply werent doing a good job, he said of the companys communications efforts during the freeze. 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. 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 interim CEO of the Electric Reliability Council of Texas (ERCOT) has publicly revealed hes pro-Bitcoin. Pablo Vegas joined ERCOT in October 2022 as President and CEO. She is a former opinion editor on the editorial board and energy reporter for the business section. On one hand, there have been six times in the past year that using RUCs have enabled the operator to avoid declaring grid emergencies. Their inspectors found 10 potential deficiencies at power plants and six at electric transmission facilities, most of which were resolved. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. TPR was founded by and is supported by our community. So far, 125 deaths across the state have been attributed to the storm and power outage. 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. 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. Updated 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. 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. 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. This caused some friction with the governors office, and Jones soon returned to Texas. In this role, Mr. Woodfin leads Real-Time Operations, Operations Planning, Forecasting and Ancillary Services, Outage Coordination, and other engineering activities that support the reliable operation of the power system and promote efficient power markets. Industry insiders will be pounding on his door, but he should seek counsel from consumers, city emergency officials, health professionals and environmental experts, too. Only three facilities this year failed to meet ERCOTs expectations for winter preparations, Jones told the town hall audience. 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. 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. Jones defended the design of Texas electricity market and power grid. Posted: Apr 27, 2021 / 02:41 PM CDT. In 2019, Ms. Spak was promoted to Senior Director of Human Resources at ERCOT and was responsible for all Human Resource functions and programs. In her role, Mrs. Hobbs oversees ERCOT relations with the Public Utility Commission of Texas (PUCT), enterprise risk management, strategic analysis, project and portfolio management, as well as ERCOT, Inc. business continuity planning. Box 65, Fort Worth, TX 76101, natural gas production in Texas dropped significantly, recommendations from the Federal Energy Regulatory Commission. 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. Power move: ERCOT appoints Brad Jones as interim president/CEO in wake of Magness termination by: Russell Falcon. Mr. Rickerson brings a considerable amount of electric industry experience to his position, including more than 19 years at ERCOT in various roles. At the Fort Worth Report, news decisions are made independently of our board members and financial supporters. WebHis previous experience within ERCOT includes serving as Chief of Staff and as Interim Chief Operating Officer. 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. 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. 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. If past experience is any indication of future performance, he will. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. 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. He didnt immediately respond to a LinkedIn message. Fort Worth Business Press They resigned because legislatively, we said, heres what were going to do. Prior to joining ERCOT in October 2015, Mr. gelman served as the Director of Energy Market Policy for CPS Energy. Jones, who worked for Texas energy companies and in senior roles at ERCOT before leading New York states power grid operator as president, takes He replaces Brad Jones, who led the organization as its interim-CEO following the February 2021 winter storm, when Texans across the state lost power and hundreds of people died. He also served as the 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. 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. All of those members lived out of state, records show. Jones has been to many rodeos. 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. The scene in North Austin on Feb. 16, 2021, following the devastating winter storm. 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. 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. 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. 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.. 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. 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. He wasnt ready to say if he is leaning to one idea or another. 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