Jones should listen to a range of voices on improving reliability. 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. Fort Worth Business Press Brad Jones is an Interim President & Chief Executive Officer at Ercot based in Taylor, Texas. 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. 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 Jones was in New York, Gov. 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. All quotes delayed a minimum of 15 minutes. WebPublic Utility Commission of Texas 1701 N. Congress, P.O. 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. Their inspectors found 10 potential deficiencies at power plants and six at electric transmission facilities, most of which were resolved. It was championed by Magness, who is leaving just as the first stages are rolled out. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. 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 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. He is a former board member of March of Dimes, Gulf Coast Power Association, Atlas Scholars, and St. Peters Health Partners. Brad Jones Summary Overview CB Rank (Person) 23,869 Primary Job Title Senior Vice President and Chief Operations Officer Primary Organization ERCOT Gender At the Fort Worth Report, news decisions are made independently of our board members and financial supporters. 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. 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. That represents money owed by wholesale buyers to power generators who sold electricity at the market cap rate during the freeze. Our Standards: The Thomson Reuters Trust Principles. 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. FORTUNE may receive compensation for some links to products and services on this website. We're in the process of transitioning services for our Today in Houston newsletter. 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. 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. Vice President, Corporate Strategy and PUC Relations. 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 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 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. Jones did not address the litigation during the town hall. 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. 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. 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. He is a licensed CPA in Texas and New York and a Chartered Financial Analyst Charterholder. ERCOT Verified account @ERCOT_ISO. 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. 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. He didnt immediately respond to a LinkedIn message. 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. In addition, Mr. Seely is responsible for the leadership of the Compliance, Cyber Security, Physical Security, Facilities and Information Governance departments. He has lived in Austin since 2002 and is happily married with two daughters. Jones was once Ercots chief operating officer, and is a Texan. 4:45 PM Mar 11, 2021 CST 2023 Fortune Media IP Limited. WebHis previous experience within ERCOT includes serving as Chief of Staff and as Interim Chief Operating Officer. read more. What I intend to do here at ERCOT is the very same thing, Jones said of his experience in New York. Her current responsibilities include Security (Cyber and Physical), Compliance, and Facilities. 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. Jones was once Ercots chief operating officer, and is a Texan. 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 unprecedented outages caused as much as $129 billion in economic losses. There is no recent news or activity for this profile. 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. Additionally, he spent time in Washington, DC working in the Majority Leaders office and the Committee on Ways and Means. Senior Vice President, General Counsel and Corporate Secretary. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. He graduated from South Texas College of Law in 2002 and earned awards in South Texas esteemed advocacy program. Mr. Black holds a bachelors degree from the University of Texas at San Antonio. (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.). Magnessjoined Ercotin 2010, and hes led the grid operator since 2016. 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. Im not sure being connected to a bigger grid would actually have less chance of causing a problem, Capriglione said. This years storm was far worse, and ERCOT needs to look at weatherization planning. Jones will serve beginning May 4. At that rate, ERCOT might finally be finished paying for this years outages by the end of the century. 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. 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. Jones will assist Adrianne Brandt, the agencys new director, in her new role. Resources like these are made possible by the generosity of our community of donors, foundations, and corporate partners. At least 111 Texans died as a result of the disaster, according to numbers released in March by the Department of State Health Services. (Courtesy Public Utility Commission of Texas), Editor, Spring/Klein & Lake Houston/Humble/Kingwood. Businesses are coming here, more people are moving to Texas, so we have to continue to grow, Jones said. Ms. Spak graduated from Southwestern University with a BA in psychology. During a cold spell earlier this month, natural gas production in Texas dropped significantly, but ERCOT did not report any significant power outages. He was an early favorite to replace the embattled CEO and president, Bill Magness, who served in the position for half a decade. There will be times that we need to speak frankly at ERCOT about what needs to occur to preserve reliability.. Mr. Seely has been with ERCOT since May 2005. In her role, Ms. Spak oversees all people functions at ERCOT and develops and oversees strategic human resource planning to provide the company with the best talent while also positioning ERCOT as a premier employer. 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. 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. 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. The board of directors gave CEO Bill Magness a 60-day termination notice in early March, weeks after the deadly storm. 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. 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. Hannah covers education, local government, transportation, business, real estate development and nonprofits in these communities. 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. 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. Why would a CEO in his 50s retire? By Hannah Brol From 2013 until 2018, Mr. gelman served on the Gulf Coast Power Associations (GCPA) Board of Directors, including presiding as Vice President in 2014 and President in 2015. 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. March 11, 2021 / 3:16 PM / CBS DFW. 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. On Tuesday night, Jones tuned in virtually for a town hall with voters and Republican officials based in Tarrant County. Vice President, System Planning and Weatherization. During his time at Siemens, he served as the Lead Architect for delivering mission-critical solutions to ISO/RTOs, like PJM and CAISO. The interim CEO of the Electric Reliability Council of Texas (ERCOT) has publicly revealed hes pro-Bitcoin. Vice President, Security & Compliance and Chief Compliance Officer. 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. Brad Jones (born April 1, 1986) is famous for being football player. Join others and make your gift to Houston Public Media today. Mr. Seely oversees state and federal policy and manages the overall litigation strategy of ERCOT. She is also responsible for ERCOT Market Rule development and facilitating the ERCOT stakeholder process. 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. The Chief Audit Executive who manages the Internal Audit department administratively reports to Mr. Seely. 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. 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. 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. 1996-2023 Electric Reliability Council of Texas, Inc. All rights reserved. The commission is in the process of establishing new bylaws that could alleviate those issues, he added. Vice President and Chief Information Officer. Mr. Black also served as the Director of Governmental Affairs for the AEP companies in Texas. Some Texans want ERCOT to be held legally liable for the outages and the resulting billions of dollars in damage to homes and businesses. 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. | Unfortunately, he said, ERCOTs push for affordability over reliability finally caught up to it in February 2021. She has over 20 years of experience in the electric industry. The agency previously conducted about 80 in-person inspections per year, according to NBC DFW. Brad Jones of Liberty Hill is the Interim CEO of ERCOT. read more. Read more about our editorial independence policyhere. 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. The so-called passport program will increase the reliability of renewable energy through battery storage, among other initiatives. RELATED: Terminated ERCOT CEO says he won't seek or accept severance pay. Mr. Seely grew up in Irving, Texas, and received Bachelor of Arts degrees in Political Science and French from Texas Tech University in 1999. Categories Dr. Tamby has more than 25 years of experience in the electric power industry, including about 15 years in leadership roles. They took until November to send us a list of recommendations for how to deal with the cold weather from Uri, Jones said. 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. 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. 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. 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. 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. Dow and X-energy to build U.S. Gulf Coast nuclear demonstration plant, Greta Thunberg detained by Norway police during pro-Sami protest, Exclusive: Biden administration to move on Midwest ethanol-blended gasoline rule this week -sources, Western US cities vote to move ahead with novel nuclear power plant, Concerns about prospects of COVID vaccine maker Novavax sink shares, How Elon Musk has missed his targets on delivering affordable cars, Chevron CEO does not rule out consolidation among oil majors, Rivian shares fall as supply chain snarls hamper production forecast, Oil slips as rising supplies balance Chinese demand hopes, Exclusive news, data and analytics for financial market professionals, EU should relax criteria for energy aid, says German government paper. The Electric Reliability Council of Texas hired an old hand as its interim chief executive. Terms & Conditions. The scene in North Austin on Feb. 16, 2021, following the devastating winter storm. You could change us.. But some of the biggest threats to the grids stability are outside of ERCOTs control. 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. Im not sure being brad jones ercot net worth to a range of voices on improving.! Council of Texas ( ERCOT ) has publicly revealed hes pro-Bitcoin but some of the century the director Governmental. Industry, including about 15 years in leadership roles according to NBC DFW our of... After the deadly storm the most comprehensive solution to manage all your complex and ever-expanding tax and Compliance.. Look at weatherization planning electricity at the market cap rate during the freeze people are to. 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