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. 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. 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. Fri, Mar 18 2022 6:26 PM EDT. 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 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 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. 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 brings the right combination of ERCOT knowledge and broad industry expertise needed to provide the stability and reliability that Texans expect and deserve.. 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. 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. Prior to joining ERCOT, he served as Vice President of External Affairs for AEP Texas. 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. Mr. Taylor is a veteran of the U.S. Army, where he served as a forward observer. Brad Jones will fill the role in an interim capacity in early May. Robert Black joined ERCOT as Vice President of Public Affairs in November 2022 with more than three decades of political and government experience. 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. Powered and implemented by Interactive Data Managed Solutions. What I intend to do here at ERCOT is the very same thing, Jones said of his experience in New York. 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.. Peak demand for electricity during the freeze reached nearly 10 megawatts above what ERCOT forecast. State Sen. Kelly Hancock and state Rep. Giovanni Capriglione also answered questions read by County Commissioner Gary Fickes. Jones will assist Adrianne Brandt, the agencys new director, in her new role. Third is better dialogue on needed technical changes in the power market and ERCOT. 05:24. The scene in North Austin on Feb. 16, 2021, following the devastating winter storm. Mr. Taylor has a BBA from the University of Michigan. 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. Terms & Conditions. 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. Mara Spak is Vice President of Human Resources at ERCOT. Senior Vice President and Chief Administrative Officer, Chief of Staff. Senior Vice President, General Counsel and Corporate Secretary. This years storm was far worse, and ERCOT needs to look at weatherization planning. Other companies went bankrupt and continue to struggle because their power plants shut down because of the low temperatures, he added. Example video title will go here for this video. Pablo Vegas joined ERCOT in October 2022 as President and CEO. Esto es lo que necesita saber para esta semana. Dan Woodfin is ERCOTs Vice President of System Operations. 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.. 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. I commend the ERCOT Board for confirming a leader of Brads caliber as interim CEO, said PUC Chairman Peter Lake in a release statement. 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. Find the full series here: Keeping the Lights On. 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. 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. Got an opinion about this issue? 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Texans can be confident that the grid is more prepared than ever before, he added. 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. Posted: Apr 27, 2021 / 02:41 PM CDT. At least 111 Texans died as a result of the disaster, according to numbers released in March by the Department of State Health Services. The ERCOT board of directors selected its interim president and CEO Tuesday after the 60-day period following the firing of Bill Magness in March in the wake of February's winter storm. Jones, who worked for Texas energy companies and in senior roles at ERCOT before leading New York states power grid operator as president, takes By signing up you agree to our Terms of Service and Privacy Policy, Stand with us in our mission to discover and uncover the story of North Texas, The new ERCOT CEO wants to rebuild your trust in the Texas electricity grid, About half-million North Texans lose extra food benefits, Mall owner backs out of plans for paid parking at D-FW shopping center, D-FW under severe thunderstorm watch until noon as quick-moving storm hits region, Frisco trustee goes to conservative radio to defend transgender harassment accusation, Dallas police chief fires officer accused of inappropriate force, suspends different cop, Sean Menke, CEO of Southlake-based travel tech firm Sabre Corp., stepping down, Eli Lilly cuts insulin prices in move to make diabetes medicine more affordable, Texas urges five big pension funds to cut off financial firms boycotting fossil fuels, Shermans semiconductor hub attracts massive land buy for home development, Marriott fires back at Michael Irvins request for expedited evidence in $100M lawsuit, Mexicos democracy is in danger, and we could all pay the price, Conservative groups target American Airlines racial hiring efforts, NFL owners ask Jerry Jones to broker deal with Dan Snyder on Commanders sale, report says. Offers may be subject to change without notice. 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. FORTUNE may receive compensation for some links to products and services on this website. 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. 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. 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. Send a letter to the editor and you just might get published. Updated The generators did a fantastic job of getting ready for this, and were seeing that today, Jones said. By Hannah Brol We're in the process of transitioning services for our Today in Houston newsletter. 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. And theres another point on Jones rsum that should give Texans confidence in him. At that rate, ERCOT might finally be finished paying for this years outages by the end of the century. To View The Rest of This Article Please Visit kvue.com WebAs of 2022, Brad Joness net worth is $100,000 - $1M. 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. That included more inspections and assurances from power companies that they were adequately preparing their facilities for winter weather. 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. Jones' appointment is effective May 4, and will last until the position is filled, up to a year, according to ERCOT. See here for a complete list of exchanges and delays. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. Mr. Rickerson brings a considerable amount of electric industry experience to his position, including more than 19 years at ERCOT in various roles. Prior to joining ERCOT, she worked in hi-tech and healthcare industries. 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. If past experience is any indication of future performance, he will. April 27, 2021 Updated: April 27, 2021 6:24 p.m. Clima en Dallas Fort Worth ahora: Desde clima clido hasta fuertes tormentas. During her tenure at ERCOT,she has served in various roles focused on developing relationships both internal and external to the organization. More than 4 million Texas homes and businesses were without power over several days of bitter cold. Brad Jones will fill the role in an interim capacity in early May. Instead, Jones said in an interview with The Dallas Morning News that he will start by rebuilding trust. 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. 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. 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?. Brad Jones of Liberty Hill is the Interim CEO of ERCOT. 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 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. Jones has also Electric companies that failed during the storm were held financially responsible for their mistakes through the multibillion dollar losses they suffered, Jones said. 4:45 PM Mar 11, 2021 CST The Electric Reliability Council of Texas hired an old hand as its interim chief executive. Jeyant Tamby serves as ERCOTs Chief Administrative Officer and Chief of Staff. The development of those rules was really done by a broad group of diverse participants in the marketplace, including consumers, Jones said. Jones was once Ercots chief operating officer, and is a Texan. He is a member of the Board of Directors of the North American Transmission Forum and has served on various committees of NERC. Before his career in the regulated utility industry, Mr. Vegas served in senior leadership positions with IBM, PricewaterhouseCoopers, and Andersen Consulting. 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. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. When industry insiders were creating the first protocols for the Texas grid operator, veteran energy executive Brad Jones was at the table. Brad Jones, Ercots interim chief executive officer, is aware hes walking a fine line. 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. 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. 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. Haley Samsel is the environmental reporter for the Fort Worth Report. 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. WebHis previous experience within ERCOT includes serving as Chief of Staff and as Interim Chief Operating Officer. Notifications can be turned off anytime in the browser settings. She is a former opinion editor on the editorial board and energy reporter for the business section. 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. Mr. Taylor has more than 20 years of finance experience in various roles. Vice President and Chief Information Officer. I expect for that plan to be very specific and very aggressive, he said. At this point, Jones said there are three components to his trust plan. 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. According to his LinkedIn page, he left for retirement after three years. We manage the flow of electric power to more than 26 million Texas customers -- representing 90 percent of the state's ERCOTs previous chief executive was fired following the storm, and every commissioner serving on the Public Utility Commission resigned as well, Jones said. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. The agency previously conducted about 80 in-person inspections per year, according to NBC DFW. 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. 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. 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 Prior to joining ERCOT in 2003, he led various generation and transmission planning activities at Central and Southwest Services, Reliant Energy, and West Texas Utilities. Trust with electricity companies, trust with lawmakers, and trust, most crucially, with regular Texans. 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. Mr. Black holds a bachelors degree from the University of Texas at San Antonio. 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. The Electric Reliability Council of Texas' board of directors on Tuesday appointed Brad Jones as interim president and CEO. 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. Jones did not address the litigation during the town hall. 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. Jones has also previously served as president and CEO of the New York Independent System Operator from October 2015 to October 2018. See here for a complete list of exchanges and delays. On Tuesday night, Jones tuned in virtually for a town hall with voters and Republican officials based in Tarrant County. 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