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. He played a key role in the development of ERCOT energy and market systems, as well as risk management and strategic planning. He spent years developing generation and working with regulators for TXU, and he spent years in top roles at ERCOT. 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. Find the full series here: Keeping the Lights On. Her current responsibilities include Security (Cyber and Physical), Compliance, and Facilities. Ms. Spak has more than 15 years of extensive experience in human resources at diverse corporate entities. 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.. RELATED: Terminated ERCOT CEO says he won't seek or accept severance pay. Because Texas is independent, state leaders can also move with more speed to craft reforms and implement them without waiting for recommendations from the Federal Energy Regulatory Commission, Jones said. 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. Jones will assist Adrianne Brandt, the agencys new director, in her new role. 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. 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. 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 will serve beginning May 4. We're in the process of transitioning services for our Today in Houston newsletter. Brad Jones will fill the role in an interim capacity in early May. 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 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. 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. 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 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. They resigned because legislatively, we said, heres what were going to do. Ms. Day joined ERCOT in 2000 and has more than 30 years of experience in the electric power industry. Texas Governor Greg Abbott had called for board members and other leaders to step down in the wake of the crisis. 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. Brad Jones, interim CEO of ERCOT, explains how the power grid partners with crypto mining facilities within Texas to manage energy demand. The Texas Public Utility Commission chair followed suit March 1. 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. Jones, who worked for Texas energy companies and in senior roles at ERCOT before leading New York states power grid operator as president, takes Kristi Hobbs is ERCOTs Vice President of Corporate Strategy and PUC Relations. Mr. Seely oversees state and federal policy and manages the overall litigation strategy of ERCOT. There is no recent news or activity for this profile. Prior to joining ERCOT, she was with Central Maine Power as part of a core team to implement market deregulation in Maine. Only three facilities this year failed to meet ERCOTs expectations for winter preparations, Jones told the town hall audience. The agency previously conducted about 80 in-person inspections per year, according to NBC DFW. 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. Brad Jones, Ercots interim chief executive officer, is aware hes walking a fine line. 1996-2023 Electric Reliability Council of Texas, Inc. All rights reserved. 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. The plan will put ERCOT on a solid foundation for providing reliable electric service year-round," Jones said in part. 05:24. 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. Too bad for New York, because a grid executive who can tether political ambitions to physical reality is an asset. Death toll from Texas winter storms rises once more to 125 people, D-FW victims now total 12, Terminated ERCOT CEO says he won't seek or accept severance pay, Its all connected: How Februarys power outages knocked out natural gas wells, Simple fix to prevent future electric outages has yet to be mandated by the Texas legislature, Sen. Cornyn and Rep. Johnson introduce bipartisan bill to strengthen, winterize Texas power grid. He didnt immediately respond to a LinkedIn message. 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. **Please note** If you are already signed up for the newsletter, you do not need to sign up again. Additionally, he spent time in Washington, DC working in the Majority Leaders office and the Committee on Ways and Means. Ms. Spak graduated from Southwestern University with a BA in psychology. Box 13326, Austin, TX 78711-3326 Fax 512-936-7003 News Release Contact: Andrew Barlow March 11, 2021 media@puc.texas.gov Jayapal Parakkuth has over 25 years of experience in successfully visualizing, designing, and implementing software solutions to various aspects of power system grid control. 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. 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. 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. 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. 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. 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 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 is a member of the Board of Directors of the North American Transmission Forum and has served on various committees of NERC. Brad Jones (born April 1, 1986) is famous for being football player. Before his career in the regulated utility industry, Mr. Vegas served in senior leadership positions with IBM, PricewaterhouseCoopers, and Andersen Consulting. He said ERCOT and Brad Jones have roles to play as messengers, but that they alone cannot prevent another power failure. Prior to joining ERCOT, she worked in hi-tech and healthcare industries. Previously, she spent nine years with East Kentucky Power Cooperative in the areas of load forecasting, load research, and market research. Im not sure being connected to a bigger grid would actually have less chance of causing a problem, Capriglione said. He wasnt ready to say if he is leaning to one idea or another. In a post-storm legislative hearing, Magness responded to one lawmaker who asked, How can we do better? by saying, Yall made us. Fri, Mar 18 2022 6:26 PM EDT. There will be times that we need to speak frankly at ERCOT about what needs to occur to preserve reliability.. Prior to working at LCRA, Mr. Taylor was a consultant performing mergers and acquisition advisory services at PricewaterhouseCoopers in New York City. WebPublic Utility Commission of Texas 1701 N. Congress, P.O. So far, 125 deaths across the state have been attributed to the storm and power outage. Peak demand for electricity during the freeze reached nearly 10 megawatts above what ERCOT forecast. 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. The commission is in the process of establishing new bylaws that could alleviate those issues, he added. And theres another point on Jones rsum that should give Texans confidence in him. During a cold spell earlier this month, natural gas production in Texas dropped significantly, but ERCOT did not report any significant power outages. Senior Vice President, General Counsel and Corporate Secretary. Other companies went bankrupt and continue to struggle because their power plants shut down because of the low temperatures, he added. WebAs of 2022, Brad Joness net worth is $100,000 - $1M. 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. FORTUNE may receive compensation for some links to products and services on this website. The Electric Reliability Council of Texas Board of Directors has selected Brad Jones to serve as interim president and CEO. The unprecedented outages caused as much as $129 billion in economic losses. 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. She earned bachelors degrees in mathematics and physics from Berea College in Kentucky and attended graduate school at the University of Kentucky. At least 111 Texans died as a result of the disaster, according to numbers released in March by the Department of State Health Services. Dan Woodfin is ERCOTs Vice President of System Operations. According to the release, Brandt will be assisted by fellow Texan Brad Jones, who previously served as chief operations officer of ERCOT. Dozens of insurance companies have also filed suit. When industry insiders were creating the first protocols for the Texas grid operator, veteran energy executive Brad Jones was at the table. She is also responsible for ERCOT Market Rule development and facilitating the ERCOT stakeholder process. 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. He didnt immediately respond to a LinkedIn message. Vice President, System Planning and Weatherization. Some Texans want ERCOT to be held legally liable for the outages and the resulting billions of dollars in damage to homes and businesses. 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. 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. The board of directors gave CEO Bill Magness a 60-day termination notice in early March, weeks after the deadly storm. 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. At that rate, ERCOT might finally be finished paying for this years outages by the end of the century. The interim CEO of the Electric Reliability Council of Texas (ERCOT) has publicly revealed hes pro-Bitcoin. 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. All Rights Reserved. Resources like these are made possible by the generosity of our community of donors, foundations, and corporate partners. 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. RELATED: Death toll from Texas winter storms rises once more to 125 people, D-FW victims now total 12. 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. The development of those rules was really done by a broad group of diverse participants in the marketplace, including consumers, Jones said. Prior to joining ERCOT, he served as Vice President of External Affairs for AEP Texas. He acknowledged that the matter of $3 billion in unpaid bills for power market trades will need to be settled. ERCOT Verified account @ERCOT_ISO. 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 so-called passport program will increase the reliability of renewable energy through battery storage, among other initiatives. 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." That included more inspections and assurances from power companies that they were adequately preparing their facilities for winter weather. Terms & Conditions. The Chief Audit Executive who manages the Internal Audit department administratively reports to Mr. Seely. 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. 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. They didnt meet the needs of either their customers or the state of Texas, and they faced penalties associated with that, financial penalties, Jones said. 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. It should give you great confidence that were managing this grid in a much more reliable way. 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. I expect for that plan to be very specific and very aggressive, he said. Her position is supported by a grant fromthe Marilyn Brachman Hoffman Foundation. Once a saver, always a saver: Warren Buffett says generational wealth isnt what it used to be in his annual letter Its bigger than the housing crisis: An influential economist just blamed NIMBYs for American decline, and Elon Musk CA Notice at Collection and Privacy Notice, Do Not Sell/Share My Personal Information. The Electric Reliability Council of Texas hired an old hand as its interim chief executive. Jones' appointment is effective May 4, and will last until the position is filled, up to a year, according to ERCOT. Dr. Tamby has a bachelors degree in electrical engineering from Anna University in India, and masters and doctorate degrees in electrical engineering from Queens University in Canada. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. His previous experience within ERCOT includes serving as Chief of Staff and as Interim Chief Operating Officer. All rights reserved. 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. 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. ERCOTs previous chief executive was fired following the storm, and every commissioner serving on the Public Utility Commission resigned as well, Jones said. Senior Vice President and Chief Administrative Officer, Chief of Staff. 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.. Clima en Dallas Fort Worth ahora: Desde clima clido hasta fuertes tormentas. Better known as ERCOT, the nonprofit organization is responsible for managing the states electricity grid under the supervision of the Public Utility Commission, whose commissioners are appointed by Gov. Betty Day was named Vice President of Security & Compliance and Chief Compliance Officer in 2019 after serving in various executive roles since 2011. Join others and make your gift to Houston Public Media today. According to his LinkedIn page, he left for retirement after three years. 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. Mr. Seely has been with ERCOT since May 2005. He has lived in Austin since 2002 and is happily married with two daughters. 1996-2023 Electric Reliability Council of Texas, Inc. All rights reserved. read more. 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. Power move: ERCOT appoints Brad Jones as interim president/CEO in wake of Magness termination by: Russell Falcon. It crippled oil and gas production, and dozens of people died. 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. Second, he plans to improve communication. Before joining ERCOT, Mr. Taylor spent seven years in the finance department at the Lower Colorado River Authority. Jones was once Ercots chief operating officer, and is a Texan. The board gave Bill Magness a 60-day termination notice at the beginning of March. 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. 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. 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. 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.. 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. 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. 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. Fort Worth Business Press 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. He earned his bachelors degree in electrical engineering from the Victoria Jubilee Technical Institute, Bombay. This op-ed is part of a series published by The Dallas Morning News Opinion section to explore ideas and policies for strengthening electric reliability. (Courtesy Public Utility Commission of Texas), Editor, Spring/Klein & Lake Houston/Humble/Kingwood. DETAILS BELOW. Mr. Taylor is a veteran of the U.S. Army, where he served as a forward observer. Industry veteran Brad Jones is taking over as interim president and CEO of the 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.. All of those members lived out of state, records show. Dominic Anthony Walsh can be reached at Dominic@TPR.org and on Twitter at @_DominicAnthony, Texas Public Radio | Sean Taylor was named Vice President and Chief Financial Officer in October 2019 after serving as ERCOTs Controller since joining the company in February 2013. Industry insiders will be pounding on his door, but he should seek counsel from consumers, city emergency officials, health professionals and environmental experts, too. On Tuesday night, Jones tuned in virtually for a town hall with voters and Republican officials based in Tarrant County. Unfortunately, he said, ERCOTs push for affordability over reliability finally caught up to it in February 2021. Board members voted 6-1, with two abstaining, in favor of serving Magness with his notice. 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. He has over 35 years of experience in the electric energy industry. 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? Hancock, who represents portions of Tarrant and Dallas counties, said. If past experience is any indication of future performance, he will. Consultant performing mergers and acquisition advisory services at PricewaterhouseCoopers in new York, because a grid who. 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