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. Prior to joining ERCOT, she worked in hi-tech and healthcare industries. Notifications can be turned off anytime in the browser settings. 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. He didnt immediately respond to a LinkedIn message. 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. 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. 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. Prior to joining ERCOT, he served as Vice President of External Affairs for AEP Texas. 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 April 27, 2021 Updated: April 27, 2021 6:24 p.m. Businesses are coming here, more people are moving to Texas, so we have to continue to grow, Jones said. ERCOT Verified account @ERCOT_ISO. 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. Jones was formerly a top executive at ERCOT before leaving to head up the grid operator in New York. 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. Elizabeth Souder. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. Peak demand for electricity during the freeze reached nearly 10 megawatts above what ERCOT forecast. ERCOT doesnt have the power to mandate major changes. 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. 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. Kristi Hobbs is ERCOTs Vice President of Corporate Strategy and PUC Relations. Mr. Seely also oversees the ERCOT Reliability Monitor function which assesses ERCOT and ERCOT Market Participant compliance with Texas electric reliability laws under the direction of the Public Utility Commission of Texas. On Tuesday night, Jones tuned in virtually for a town hall with voters and Republican officials based in Tarrant County. Resources like these are made possible by the generosity of our community of donors, foundations, and corporate partners. Dr. Tamby has more than 25 years of experience in the electric power industry, including about 15 years in leadership roles. Box 65, Fort Worth, TX 76101, natural gas production in Texas dropped significantly, recommendations from the Federal Energy Regulatory Commission. Box 13326, Austin, TX 78711-3326 Fax 512-936-7003 News Release Contact: Andrew Barlow March 11, 2021 [email protected] Ms. Spak graduated from Southwestern University with a BA in psychology. The so-called passport program will increase the reliability of renewable energy through battery storage, among other initiatives. 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. 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. He spent years developing generation and working with regulators for TXU, and he spent years in top roles at ERCOT. Jones will assist Adrianne Brandt, the agencys new director, in her new role. According to his LinkedIn page, he left for retirement after three years. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. When industry insiders were creating the first protocols for the Texas grid operator, veteran energy executive Brad Jones was at the table. "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. 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.. He has over 35 years of experience in the electric energy industry. This article was originally published byFort Worth Report. Brad Jones will fill the role in an interim capacity in early May. He acknowledged that the matter of $3 billion in unpaid bills for power market trades will need to be settled. 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. First, he said, ERCOT needs stabilizing, the company itself and the market participants. Last summer, ERCOT released a 60-item list of reforms the agency was undertaking to improve its broken trust with Texans. Esto es lo que necesita saber para esta semana. 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. He is a licensed CPA in Texas and New York and a Chartered Financial Analyst Charterholder. 05:24. 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. Mrs. Hobbs graduated from Texas A&M University in 1998 with a BS in agribusiness and earned an MSc in agricultural economics from Texas A&M University in 2000. By Hannah Brol 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. 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. However, Magness has told Ercots board he wont seek or accept a severance, according to a statement. Mr. Black leads the organizations external communications, government affairs, and customer support and oversees communications with Texans, state agencies, and lawmakers. Brad Jones will fill the role in an interim capacity in early May. He comes to the Bayou City after Let the Houston Public Media newsroom help you start your day. Fort Worth Business Press 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. At that rate, ERCOT might finally be finished paying for this years outages by the end of the century. 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. Brad Jones Summary Overview CB Rank (Person) 23,869 Primary Job Title Senior Vice President and Chief Operations Officer Primary Organization ERCOT Gender 1996-2023 Electric Reliability Council of Texas, Inc. All rights reserved. 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. He wasnt ready to say if he is leaning to one idea or another. According to the release, Brandt will be assisted by fellow Texan Brad Jones, who previously served as chief operations officer of ERCOT. 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. 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. 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. 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. Jones has been to many rodeos. But some of the biggest threats to the grids stability are outside of ERCOTs control. 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. 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. Your subscription will be migrated over. He graduated from Boston University in 1987 with a BA in international relations. There is no recent news or activity for this profile. 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. See here for a complete list of exchanges and delays. Jones was formerly a top executive at ERCOT before leaving to head up the grid operator in New Second, he plans to improve communication. 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. She is also responsible for ERCOT Market Rule development and facilitating the ERCOT stakeholder process. 2023 Fortune Media IP Limited. Magnessjoined Ercotin 2010, and hes led the grid operator since 2016. He currently resides in Lansing. 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. Jones was formerly a top executive at ERCOT before leaving to head up the grid operator in New York. Industry veteran Brad Jones is taking over as interim president and CEO of the Ms. Day joined ERCOT in 2000 and has more than 30 years of experience in the electric power industry. 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. Brad Jones of Liberty Hill is the Interim CEO of ERCOT. The development of those rules was really done by a broad group of diverse participants in the marketplace, including consumers, Jones said. ERCOTs previous chief executive was fired following the storm, and every commissioner serving on the Public Utility Commission resigned as well, Jones said. He played a key role in the development of ERCOT energy and market systems, as well as risk management and strategic planning. 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. It should give you great confidence that were managing this grid in a much more reliable way.. Instead, Jones said in an interview with The Dallas Morning News that he will start by rebuilding trust. He played a key role in the development of ERCOT energy and 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. Vice President, Corporate Strategy and PUC Relations. WebHis previous experience within ERCOT includes serving as Chief of Staff and as Interim Chief Operating Officer. Additionally, he spent time in Washington, DC working in the Majority Leaders office and the Committee on Ways and Means. Got an opinion about this issue? Jones' appointment is effective May 4, and will last until the position is filled, up to a year, according to ERCOT. Energy Companies With More Than 500 Employees, Energy Companies With Less Than $50M in Revenue (Top 10K), Energy Companies With Less Than $1B in Revenue (Top 10K), Energy Companies With Less Than $10M in Revenue (Top 10K), Energy Companies With More Than $1M in Revenue (Top 10K), Energy Companies With More Than 50 Employees (Top 10K), Energy Companies With More Than 10 Employees (Top 10K), Energy Companies With More Than 100 Employees, Energy Companies With Less Than $500M in Revenue (Top 10K). 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. 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. Offers may be subject to change without notice. AUSTIN, Texas Updated at 5:27 p.m. with a statement from the interim CEO. Previously, she spent nine years with East Kentucky Power Cooperative in the areas of load forecasting, load research, and market research. Houston Public Media is supported with your gifts to the Houston Public Media Foundation and is licensed to the University of Houston. 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. 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. Brad Jones is an Interim President & Chief Executive Officer at Ercot based in Taylor, Texas. Other companies went bankrupt and continue to struggle because their power plants shut down because of the low temperatures, he added. Dozens of insurance companies have also filed suit. The plan will put ERCOT on a solid foundation for providing reliable electric service year-round," Jones said in part. Vice President, System Planning and Weatherization. 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. She earned bachelors degrees in mathematics and physics from Berea College in Kentucky and attended graduate school at the University of Kentucky. He graduated from South Texas College of Law in 2002 and earned awards in South Texas esteemed advocacy program. Only three facilities this year failed to meet ERCOTs expectations for winter preparations, Jones told the town hall audience. 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. 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. Get smart opinions on the topics North Texans care about. Example video title will go here for this video. 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. 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. 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 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. 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." So far, 125 deaths across the state have been attributed to the storm and power outage. 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. (Courtesy Public Utility Commission of Texas), Editor, Spring/Klein & Lake Houston/Humble/Kingwood. Find the full series here: Keeping the Lights On. Tags electricity grid ercot Texas Legislature Texas power grid winter freeze. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. 4:49 PM Mar 11, 2021 CST, 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 news release March 11. In her role, Mrs. Hobbs oversees ERCOT relations with the Public Utility Commission of Texas (PUCT), enterprise risk management, strategic analysis, project and portfolio management, as well as ERCOT, Inc. business continuity planning. 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