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. He played a key role in the development of ERCOT energy and Texans can be confident that the grid is more prepared than ever before, he added. He acknowledged that the matter of $3 billion in unpaid bills for power market trades will need to be settled. Ms. Spak graduated from Southwestern University with a BA in psychology. Notifications can be turned off anytime in the browser settings. 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. 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. 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. According to his LinkedIn page, he left for retirement after three years. Bill Magness, chief executive officer of the Texas power grid operator, will leave his post in the wake of the February energy crisis that left millions of people in the state without electricity and heat for days. Brad Jones of Liberty Hill is the Interim CEO of ERCOT. Other companies went bankrupt and continue to struggle because their power plants shut down because of the low temperatures, he added. 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. He currently resides in Lansing. 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. She is a former opinion editor on the editorial board and energy reporter for the business section. Jeyant Tamby serves as ERCOTs Chief Administrative Officer and Chief of Staff. 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. 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 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. 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. 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. 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. 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. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice| Do Not Sell/Share My Personal Information| Ad Choices 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. 1996-2023 Electric Reliability Council of Texas, Inc. All rights reserved. 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. The so-called passport program will increase the reliability of renewable energy through battery storage, among other initiatives. 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. He didnt immediately respond to a LinkedIn message. He also leads advancements in generation and transmission planning to help meet long-term forecasting needs and ensures that the latest grid and technology changes are incorporated into models used by ERCOT for analysis. 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. 4:45 PM Mar 11, 2021 CST 2005-2022 Community Impact Newspaper Co. All rights reserved. Offers may be subject to change without notice. Resources like these are made possible by the generosity of our community of donors, foundations, and corporate partners. 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. DETAILS BELOW. 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. Dozens of insurance companies have also filed suit. I expect for that plan to be very specific and very aggressive, he said. All Rights Reserved. After so many angry Texans became armchair electricity experts on social media during the February freeze, this state could use some tethering to reality. (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.). Ercots chair and four other directors resigned Feb. 23, while two other board members resigned in the following days. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. A licensed professional engineer, Mr. Rickerson has worked for utilities in Texas, Arizona, and New Mexico. This years storm was far worse, and ERCOT needs to look at weatherization planning. 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. 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. It should give you great confidence that were managing this grid in a much more reliable way. He has a bachelors degree in electrical engineering from New Mexico State University and a masters degree in engineering management from the University of Colorado. Trust with electricity companies, trust with lawmakers, and trust, most crucially, with regular Texans. You could change us.. ERCOT announced that four of its board members resigned Wednesday, Feb. 24 following its board meeting, and a fifth board member separately submitted her resignation. 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. That included more inspections and assurances from power companies that they were adequately preparing their facilities for winter weather. The interim CEO of the Electric Reliability Council of Texas (ERCOT) has publicly revealed hes pro-Bitcoin. Too bad for New York, because a grid executive who can tether political ambitions to physical reality is an asset. 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. Ms. Spak has more than 15 years of extensive experience in human resources at diverse corporate entities. The Electric Reliability Council of Texas' board of directors on Tuesday appointed Brad Jones as interim president and CEO. 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. Ms. Day joined ERCOT in 2000 and has more than 30 years of experience in the electric power industry. Our Standards: The Thomson Reuters Trust Principles. 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. 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 Prior to joining ERCOT in October 2015, Mr. gelman served as the Director of Energy Market Policy for CPS Energy. WebIf the problem persists, contact the ERCOT Service Desk at ServiceDesk@ercot.com or 1-866-870-8124. 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. 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. WebHis previous experience within ERCOT includes serving as Chief of Staff and as Interim Chief Operating Officer. 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. 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. The scene in North Austin on Feb. 16, 2021, following the devastating winter storm. 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. Greg Abbott. 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 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. The Electric Reliability Council of Texas (ERCOT) board has selected a new CEO and president. 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. Get smart opinions on the topics North Texans care about. Second, he plans to improve communication. He graduated from South Texas College of Law in 2002 and earned awards in South Texas esteemed advocacy program. There will be times that we need to speak frankly at ERCOT about what needs to occur to preserve reliability.. Creating the original set of protocols that everyone could live with was surely good training for updating those protocols now. 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. 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. AUSTIN, Texas Updated at 5:27 p.m. with a statement from the interim CEO. Senior Vice President and Chief Administrative Officer, Chief of Staff. 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. Mr. Black holds a bachelors degree from the University of Texas at San Antonio. Mr. gelman served as Chairman of the ERCOT Technical Advisory Committee from 2011 to 2013. 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. Jones was formerly a top executive at ERCOT before leaving to head up the grid operator in New Prior to joining ERCOT, he served as Vice President of External Affairs for AEP Texas. 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 So far, 125 deaths across the state have been attributed to the storm and power outage. 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. 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. Parakkuth has a masters degree in power systems and power electronics from the Indian Institute of Technology Bombay, and an MBA in information systems and finance from the University of Minnesota. He is a member of the Board of Directors of the North American Transmission Forum and has served on various committees of NERC. Mr. Black also served as the Director of Governmental Affairs for the AEP companies in Texas. When industry insiders were creating the first protocols for the Texas grid operator, veteran energy executive Brad Jones was at the table. I commend the ERCOT Board for confirming a leader of Brads caliber as interim CEO, said PUC Chairman Peter Lake in a release statement. 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 was once Ercots chief operating officer, and is a Texan. Got an opinion about this issue? Read more about our editorial independence policyhere. The development of those rules was really done by a broad group of diverse participants in the marketplace, including consumers, Jones said. According to the release, Brandt will be assisted by fellow Texan Brad Jones, who previously served as chief operations officer of ERCOT. At this point, Jones said there are three components to his trust plan. Brad Jones is an Interim President & Chief Executive Officer at Ercot based in Taylor, Texas. Brad Jones (born April 1, 1986) is famous for being football player. He earned his bachelors degree in electrical engineering from the Victoria Jubilee Technical Institute, Bombay. 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. Fri, Mar 18 2022 6:26 PM EDT. 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 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. 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. Jones has also previously served as president and CEO of the New York Independent System Operator from October 2015 to October 2018. They took until November to send us a list of recommendations for how to deal with the cold weather from Uri, Jones said. Jones, who worked for Texas energy companies and in senior roles at ERCOT before leading New York states power grid operator as president, takes But some of the biggest threats to the grids stability are outside of ERCOTs control. 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. Hannah covers education, local government, transportation, business, real estate development and nonprofits in these communities. Mr. Black leads the organizations external communications, government affairs, and customer support and oversees communications with Texans, state agencies, and lawmakers. Tags electricity grid ercot Texas Legislature Texas power grid winter freeze. Powered and implemented by Interactive Data Managed Solutions. Jones defended the design of Texas electricity market and power grid. 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 Magnessjoined Ercotin 2010, and hes led the grid operator since 2016. 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). 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. He was an early favorite to replace the embattled CEO and president, Bill Magness, who served in the position for half a decade. 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. Power move: ERCOT appoints Brad Jones as interim president/CEO in wake of Magness termination by: Russell Falcon. 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. Before joining ERCOT, Mr. Taylor spent seven years in the finance department at the Lower Colorado River Authority. He has over 35 years of experience in the electric energy industry. 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. Vice President, Corporate Strategy and PUC Relations. More than 4 million Texas homes and businesses were without power over several days of bitter cold. Industry insiders will be pounding on his door, but he should seek counsel from consumers, city emergency officials, health professionals and environmental experts, too. See here for a complete list of exchanges and delays. 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. 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. P.O. 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. 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