Jones was formerly a top executive at ERCOT before leaving to head up the grid operator in New 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. 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. ERCOT doesnt have the power to mandate major changes. Prior to joining ERCOT, she worked in hi-tech and healthcare industries. The Electric Reliability Council of Texas (ERCOT) board has selected a new CEO and president. 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. 05:24. AUSTIN, Texas Updated at 5:27 p.m. with a statement from the interim CEO. There were a lot of channels, and we simply werent doing a good job, he said of the companys communications efforts during the freeze. 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. The Texas Public Utility Commission chair followed suit March 1. 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. 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. The commission is in the process of establishing new bylaws that could alleviate those issues, he added. 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. Your subscription will be migrated over. Box 65, Fort Worth, TX 76101, natural gas production in Texas dropped significantly, recommendations from the Federal Energy Regulatory Commission. Her position is supported by a grant fromthe Marilyn Brachman Hoffman Foundation. He graduated from Boston University in 1987 with a BA in international relations. Mr. Seely oversees state and federal policy and manages the overall litigation strategy of ERCOT. Prior to working at LCRA, Mr. Taylor was a consultant performing mergers and acquisition advisory services at PricewaterhouseCoopers in New York City. He brings the right combination of ERCOT knowledge and broad industry expertise needed to provide the stability and reliability that Texans expect and deserve.. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. Peak demand for electricity during the freeze reached nearly 10 megawatts above what ERCOT forecast. The board gave Bill Magness a 60-day termination notice at the beginning of March. Prior to joining ERCOT, she was with Central Maine Power as part of a core team to implement market deregulation in Maine. State Sen. Kelly Hancock and state Rep. Giovanni Capriglione also answered questions read by County Commissioner Gary Fickes. Last summer, ERCOT released a 60-item list of reforms the agency was undertaking to improve its broken trust with Texans. The so-called passport program will increase the reliability of renewable energy through battery storage, among other initiatives. Brad Jones will fill the role in an interim capacity in early May. 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. 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. Brad Jones will fill the role in an interim capacity in early May. 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. 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. 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. Jones' appointment is effective May 4, and will last until the position is filled, up to a year, according to ERCOT. 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. Instead, Jones said in an interview with The Dallas Morning News that he will start by rebuilding trust. Tags electricity grid ercot Texas Legislature Texas power grid winter freeze. 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. 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. 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. At least 111 Texans died as a result of the disaster, according to numbers released in March by the Department of State Health Services. Example video title will go here for this video. 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. She is a former opinion editor on the editorial board and energy reporter for the business section. 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." Jones, who worked for Texas energy companies and in senior roles at ERCOT before leading New York states power grid operator as president, takes The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. 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. The plan will put ERCOT on a solid foundation for providing reliable electric service year-round," Jones said in part. 2023 Fortune Media IP Limited. 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. 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. Texas Governor Greg Abbott had called for board members and other leaders to step down in the wake of the crisis. That represents money owed by wholesale buyers to power generators who sold electricity at the market cap rate during the freeze. He comes to the Bayou City after Let the Houston Public Media newsroom help you start your day. TPR was founded by and is supported by our community. 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. 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 Elizabeth is an editor on the breaking news desk. The industry leader for online information for tax, accounting and finance professionals. Other companies went bankrupt and continue to struggle because their power plants shut down because of the low temperatures, he added. WebIf the problem persists, contact the ERCOT Service Desk at ServiceDesk@ercot.com or 1-866-870-8124. The Electric Reliability Council of Texas Board of Directors has selected Brad Jones to serve as interim president and CEO. 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. He is a licensed CPA in Texas and New York and a Chartered Financial Analyst Charterholder. 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. RELATED: Death toll from Texas winter storms rises once more to 125 people, D-FW victims now total 12. He earned both a BS in electrical engineering and an MBA from Texas A&M University. Mr. Black also served as the Director of Governmental Affairs for the AEP companies in Texas. He has lived in Austin since 2002 and is happily married with two daughters. 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. More than 4 million Texas homes and businesses were without power over several days of bitter cold. Esto es lo que necesita saber para esta semana. 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 states utilities cant expect a once-in-100-year storm every year, but ERCOT must ensure its ready for the next one, Jones said. March 11, 2021 / 3:16 PM / CBS DFW. Jones has also previously served as president and CEO of the New York Independent System Operator from October 2015 to October 2018. 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. Too bad for New York, because a grid executive who can tether political ambitions to physical reality is an asset. Jones should listen to a range of voices on improving reliability. 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. Jones will assist Adrianne Brandt, the agencys new director, in her new role. 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. 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. So far, 125 deaths across the state have been attributed to the storm and power outage. On one hand, there have been six times in the past year that using RUCs have enabled the operator to avoid declaring grid emergencies. Jones did not address the litigation during the town hall. Jeyant Tamby serves as ERCOTs Chief Administrative Officer and Chief of Staff. The Texas legislature oversees all of the organizations, and its efforts to mandate weatherization have stalled. Mr. Seely grew up in Irving, Texas, and received Bachelor of Arts degrees in Political Science and French from Texas Tech University in 1999. Vice President and Chief Financial Officer. FORTUNE may receive compensation for some links to products and services on this website. 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. Houston Public Media is supported with your gifts to the Houston Public Media Foundation and is licensed to the University of Houston. 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. Senior Vice President, General Counsel and Corporate Secretary. 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 Mr. Rickerson brings a considerable amount of electric industry experience to his position, including more than 19 years at ERCOT in various roles. 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. This article was originally published byFort Worth Report. Industry veteran Brad Jones is taking over as interim president and CEO of the See here for a complete list of exchanges and delays. Kenan gelman isERCOTs Vice President of Commercial Operations, overseeing Market Operations, Settlement and Retail Operations, and Market Design and Development. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. 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. Im not sure being connected to a bigger grid would actually have less chance of causing a problem, Capriglione said. This caused some friction with the governors office, and Jones soon returned to Texas. The generators did a fantastic job of getting ready for this, and were seeing that today, Jones said. 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. According to his LinkedIn page, he left for retirement after three years. 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. 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. Get highlights, trending news, and behind-the-scenes insights from Houston Public Media delivered to your inbox each week. Ms. Day joined ERCOT in 2000 and has more than 30 years of experience in the electric power industry. On Tuesday night, Jones tuned in virtually for a town hall with voters and Republican officials based in Tarrant County. August 8, 2022 Executive Employment Agreement. "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. Board members voted 6-1, with two abstaining, in favor of serving Magness with his notice. Categories Additionally, he spent time in Washington, DC working in the Majority Leaders office and the Committee on Ways and Means. 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. 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. He was active with the Texas Reliability Entity, Edison Electric Institute and the FutureGen Industrial Alliance. He was an early favorite to replace the embattled CEO and president, Bill Magness, who served in the position for half a decade. Jones was once Ercots chief operating officer, and is a Texan. 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 Electric Reliability Council of Texas' board of directors on Tuesday appointed Brad Jones as interim president and CEO. Other, larger grids are not necessarily immune to issues, Capriglione added, pointing to Californias Pacific Gas & Electric, which has been blamed for more than 30 wildfires and faced a number of criminal charges. 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. He has over 35 years of experience in the electric energy industry. In 2019, Ms. Spak was promoted to Senior Director of Human Resources at ERCOT and was responsible for all Human Resource functions and programs. 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 I commend the ERCOT Board for confirming a leader of Brads caliber as interim CEO, said PUC Chairman Peter Lake in a release statement. He earned his bachelors degree in electrical engineering from the Victoria Jubilee Technical Institute, Bombay. 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. 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. He didnt immediately respond to a LinkedIn message. 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. Clima en Dallas Fort Worth ahora: Desde clima clido hasta fuertes tormentas. Trust with electricity companies, trust with lawmakers, and trust, most crucially, with regular Texans. Read more about our editorial independence policyhere. There is no recent news or activity for this profile. Then, as the Texas electric market prepared for retail competition, he led several workgroups and committees in the ERCOT market participant forums that created the successful competitive electricity market in Texas. He spent years developing generation and working with regulators for TXU, and he spent years in top roles at ERCOT. 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 served as a versatile executive at NiSource for six years, holding numerous roles, including Chief Operating Officer, Executive Vice President and President of Columbia Gas Group, and Chief Customer Officer. 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. 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. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. You could change us.. Mr. Seely has been with ERCOT since May 2005. 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. 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.. Magness is leaving the Electric Reliability Council of Texas after the board voted to terminate his employment and gave him a 60-day term notice, according to a notice to Ercot staff and contractors seen by Bloomberg News. Jones defended the design of Texas electricity market and power grid. Jones was once Ercots chief operating officer, and is a Texan. Greg Abbott. All Rights Reserved. He played a key role in the development of ERCOT energy and market systems, as well as risk management and strategic planning. They resigned because legislatively, we said, heres what were going to do. 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. WebHis previous experience within ERCOT includes serving as Chief of Staff and as Interim Chief Operating Officer. 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. Dr. Tamby has more than 25 years of experience in the electric power industry, including about 15 years in leadership roles. It should give you great confidence that were managing this grid in a much more reliable way. WebPublic Utility Commission of Texas 1701 N. Congress, P.O. Dan Woodfin is ERCOTs Vice President of System Operations. We're in the process of transitioning services for our Today in Houston newsletter. Her current responsibilities include Security (Cyber and Physical), Compliance, and Facilities. What I intend to do here at ERCOT is the very same thing, Jones said of his experience in New York. He also served as the president and CEO of the New York Independent System Operator from October 2015 to October 2018. She has over 20 years of experience in the electric industry. By Hannah Brol 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.. Jayapal Parakkuth has over 25 years of experience in successfully visualizing, designing, and implementing software solutions to various aspects of power system grid control. (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.). 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. Previously, Brad was a Director, Information Technol Read More 1996-2023 Electric Reliability Council of Texas, Inc. All rights reserved. Before his career in the regulated utility industry, Mr. Vegas served in senior leadership positions with IBM, PricewaterhouseCoopers, and Andersen Consulting. 1996-2023 Electric Reliability Council of Texas, Inc. All rights reserved. Mr. Black leads the organizations external communications, government affairs, and customer support and oversees communications with Texans, state agencies, and lawmakers. Magness is leaving as ERCOT faces a $2.5 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. RELATED: Terminated ERCOT CEO says he won't seek or accept severance pay. It crippled oil and gas production, and dozens of people died. 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. Has also previously served as the president and CEO page, he.... $ 800 million per year ) to storage that can sustain for 4 hours Regulatory Commission ERCOT and..., Jones said in part, we said, heres what were going to do at... 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