When industry insiders were creating the first protocols for the Texas grid operator, veteran energy executive Brad Jones was at the table. 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. Kenan gelman isERCOTs Vice President of Commercial Operations, overseeing Market Operations, Settlement and Retail Operations, and Market Design and Development. According to his LinkedIn page, he left for retirement after three years. 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. Power move: ERCOT appoints Brad Jones as interim president/CEO in wake of Magness termination by: Russell Falcon. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. ERCOT doesnt have the power to mandate major changes. Pablo Vegas joined ERCOT in October 2022 as President and CEO. He has over 35 years of experience in the electric energy industry. See here for a complete list of exchanges and delays. Texas Governor Greg Abbott had called for board members and other leaders to step down in the wake of the crisis. What I intend to do here at ERCOT is the very same thing, Jones said of his experience in New York. It crippled oil and gas production, and dozens of people died. 05:24. Robert Black joined ERCOT as Vice President of Public Affairs in November 2022 with more than three decades of political and government experience. He has lived in Austin since 2002 and is happily married with two daughters. He earned both a BS in electrical engineering and an MBA from Texas A&M University. Vice President and Chief Financial Officer. The interim CEO of the Electric Reliability Council of Texas (ERCOT) has publicly revealed hes pro-Bitcoin. 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. 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. The Chief Audit Executive who manages the Internal Audit department administratively reports to Mr. Seely. Brad Jones, the interim chief executive of the Electric Reliability Council of Texas, has been a busy man since taking over the troubled agency last May. 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. 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. She is a former opinion editor on the editorial board and energy reporter for the business section. The Electric Reliability Council of Texas (ERCOT) board has selected a new CEO and president. There is no recent news or activity for this profile. See here for a complete list of exchanges and delays. Brad Jones, CEO of New York's main electric grid operator from October 2015 to October 2018, will start his tenure as the president and CEO of ERCOT on May 4, the agency said Tuesday. Texans can be confident that the grid is more prepared than ever before, he added. 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. 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. The agency previously conducted about 80 in-person inspections per year, according to NBC DFW. All Rights Reserved. Houston Public Media is supported with your gifts to the Houston Public Media Foundation and is licensed to the University of Houston. Mr. Taylor has a BBA from the University of Michigan. Mr. Seely oversees state and federal policy and manages the overall litigation strategy of ERCOT. 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. But one thing the crisis does is it opens the opportunity for, I would hope, the legislature and the PUC and the Railroad Commission to understand that there is a serious issue here with gas supply, and now it needs to be solved.. 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. 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. Previously, Mr. gelman worked as a Senior Economist for the Texas Office of Public Utility Counsel, which represents residential electric consumers in Texas, from 1997 to 2007. However, Magness has told Ercots board he wont seek or accept a severance, according to a statement. March 11, 2021 / 3:16 PM / CBS DFW. He didnt immediately respond to a LinkedIn message. Tags electricity grid ercot Texas Legislature Texas power grid winter freeze. 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. The board gave Bill Magness a 60-day termination notice at the beginning of March. Jones, who worked for Texas energy companies and in senior roles at ERCOT before leading New York states power grid operator as president, takes She earned bachelors degrees in mathematics and physics from Berea College in Kentucky and attended graduate school at the University of Kentucky. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. 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. This caused some friction with the governors office, and Jones soon returned to Texas. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. TPR was founded by and is supported by our community. He played a key role in the development of ERCOT energy and It should give you great confidence that were managing this grid in a much more reliable way. Jones was formerly a top executive at ERCOT before leaving to head up the grid operator in New York. 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. Before joining ERCOT, Mr. Taylor spent seven years in the finance department at the Lower Colorado River Authority. 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. He said ERCOT and Brad Jones have roles to play as messengers, but that they alone cannot prevent another power failure. The Electric Reliability Council of Texas Board of Directors has selected Brad Jones to serve as interim president and CEO. Jones should listen to a range of voices on improving reliability. Brad Jones, the interim chief executive of the Electric Reliability Council of Texas, has been a busy man since taking over the troubled agency last May. 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. The industry leader for online information for tax, accounting and finance professionals. Jones defended the design of Texas electricity market and power grid. Read more about our editorial independence policyhere. 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. Electric companies that failed during the storm were held financially responsible for their mistakes through the multibillion dollar losses they suffered, Jones said. 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. Jeyant Tamby serves as ERCOTs Chief Administrative Officer and Chief of Staff. 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?. All rights reserved. LinkedIn has officially entered its cringe era, and its working. Their inspectors found 10 potential deficiencies at power plants and six at electric transmission facilities, most of which were resolved. 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. Woodfin has over 30 years of experience in the electric power industry, including leadership positions in both system planning and system operations for ERCOT. Second, he plans to improve communication. Industry insiders will be pounding on his door, but he should seek counsel from consumers, city emergency officials, health professionals and environmental experts, too. The Texas Public Utility Commission chair followed suit March 1. 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. RELATED: Terminated ERCOT CEO says he won't seek or accept severance pay. 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. WebHis previous experience within ERCOT includes serving as Chief of Staff and as Interim Chief Operating Officer. 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. 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. Hannah covers education, local government, transportation, business, real estate development and nonprofits in these communities. Elizabeth is an editor on the breaking news desk. So far, 125 deaths across the state have been attributed to the storm and power outage. According to the release, Brandt will be assisted by fellow Texan Brad Jones, who previously served as chief operations officer of ERCOT. Some Texans want ERCOT to be held legally liable for the outages and the resulting billions of dollars in damage to homes and businesses. Magnessjoined Ercotin 2010, and hes led the grid operator since 2016. Gas is a very protected and treasured resource within the Texas economy and the Texas politics, so you have to pick your battles, Cramton said. Only three facilities this year failed to meet ERCOTs expectations for winter preparations, Jones told the town hall audience. 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. 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. Elizabeth Souder. 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. He spent years developing generation and working with regulators for TXU, and he spent years in top roles at ERCOT. Why would a CEO in his 50s retire? 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. WebPublic Utility Commission of Texas 1701 N. Congress, P.O. Ercots chair and four other directors resigned Feb. 23, while two other board members resigned in the following days. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. 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. 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. 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. 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. The scene in North Austin on Feb. 16, 2021, following the devastating winter storm. 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. In a post-storm legislative hearing, Magness responded to one lawmaker who asked, How can we do better? by saying, Yall made us. Powered and implemented by Interactive Data Managed Solutions. On Tuesday night, Jones tuned in virtually for a town hall with voters and Republican officials based in Tarrant County. 4:45 PM Mar 11, 2021 CST 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. 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. 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. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. 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. Prior to joining ERCOT, he served as Vice President of External Affairs for AEP Texas. ERCOT said in a release that Jones has over 30 years of experience in the energy sector and held positions with ERCOT from April 2013 to October 2015, including senior vice president and chief operating officer. Clima en Dallas Fort Worth ahora: Desde clima clido hasta fuertes tormentas. 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. After so many angry Texans became armchair electricity experts on social media during the February freeze, this state could use some tethering to reality. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. Get smart opinions on the topics North Texans care about. 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. Mr. Vegas currently serves on the board of directors at Northwest Bancshares, Inc. 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