April 27, 2021 Updated: April 27, 2021 6:24 p.m. 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. AUSTIN, Texas Updated at 5:27 p.m. with a statement from the interim CEO. Mr. Seely grew up in Irving, Texas, and received Bachelor of Arts degrees in Political Science and French from Texas Tech University in 1999. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. Brad Jones, interim CEO of ERCOT, explains how the power grid partners with crypto mining facilities within Texas to manage energy demand. In a press release, ERCOT said Jones will serve in the position for up to a year while the board searches for a permanent replacement. He played a key role in the development of ERCOT energy and market systems, as well as risk management and strategic planning. 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. Creating the original set of protocols that everyone could live with was surely good training for updating those protocols now. Senior Vice President, General Counsel and Corporate Secretary. And theres another point on Jones rsum that should give Texans confidence in him. Mara Spak is Vice President of Human Resources at ERCOT. 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. 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 (born April 1, 1986) is famous for being football player. First, he said, ERCOT needs stabilizing, the company itself and the market participants. March 11, 2021 / 3:16 PM / CBS DFW. 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. WebIf the problem persists, contact the ERCOT Service Desk at ServiceDesk@ercot.com or 1-866-870-8124. It should give you great confidence that were managing this grid in a much more reliable way.. Mr. Taylor is a veteran of the U.S. Army, where he served as a forward observer. WebAs of 2022, Brad Joness net worth is $100,000 - $1M. There is no recent news or activity for this profile. Prior to joining ERCOT in October 2015, Mr. gelman served as the Director of Energy Market Policy for CPS Energy. Contact herby emailor viaTwitter. 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. He graduated from Boston University in 1987 with a BA in international relations. 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. He is a former board member of March of Dimes, Gulf Coast Power Association, Atlas Scholars, and St. Peters Health Partners. There were a lot of channels, and we simply werent doing a good job, he said of the companys communications efforts during the freeze. Mr. Taylor has more than 20 years of finance experience in various roles. 2023 Fortune Media IP Limited. Jones' appointment is effective May 4, and will last until the position is filled, up to a year, according to ERCOT. Brad Jones will fill the role in an interim capacity in early May. Jones was formerly a top executive at ERCOT before leaving to head up the grid operator in New Enough jargon, he said, we have to speak in very clear terms.. 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. Houston Public Media is supported with your gifts to the Houston Public Media Foundation and is licensed to the University of Houston. 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. At this point, Jones said there are three components to his trust plan. See here for a complete list of exchanges and delays. 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. 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." Dozens of insurance companies have also filed suit. Powered and implemented by Interactive Data Managed Solutions. August 8, 2022 Executive Employment Agreement. 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. 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. 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. 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. 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. 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. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. Mr. Rickerson is responsible for guiding new, in-depth generation inspections and coordinating enforcement actions with the Public Utility Commission. FORTUNE may receive compensation for some links to products and services on this website. 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. Elizabeth Souder. 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. She is a former opinion editor on the editorial board and energy reporter for the business section. State Sen. Kelly Hancock and state Rep. Giovanni Capriglione also answered questions read by County Commissioner Gary Fickes. Haley Samsel is the environmental reporter for the Fort Worth Report. The Electric Reliability Council of Texas' board of directors on Tuesday appointed Brad Jones as interim president and CEO. 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. The interim CEO of the Electric Reliability Council of Texas (ERCOT) has publicly revealed hes pro-Bitcoin. 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. Mr. Seely oversees state and federal policy and manages the overall litigation strategy of ERCOT. 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. Only three facilities this year failed to meet ERCOTs expectations for winter preparations, Jones told the town hall audience. 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. 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. 4:45 PM Mar 11, 2021 CST Andrew Cuomo set out an ambitious goal to shift power generation in the state to 50% renewable by 2030. She earned bachelors degrees in mathematics and physics from Berea College in Kentucky and attended graduate school at the University of Kentucky. 1996-2023 Electric Reliability Council of Texas, Inc. All rights reserved. For example, power plants were weatherized this winter, but for the ice storm of 2011, he said. 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. He earned his bachelors degree in electrical engineering from the Victoria Jubilee Technical Institute, Bombay. It crippled oil and gas production, and dozens of people died. At that rate, ERCOT might finally be finished paying for this years outages by the end of the century. The Texas legislature oversees all of the organizations, and its efforts to mandate weatherization have stalled. That included more inspections and assurances from power companies that they were adequately preparing their facilities for winter weather. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. 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. 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. Jones was once Ercots chief operating officer, and is a Texan. 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. Brad Jones, Ercots interim chief executive officer, is aware hes walking a fine line. 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.. Jones has also previously served as president and CEO of the New York Independent System Operator from October 2015 to October 2018. Brad Jones of Liberty Hill is the Interim CEO of ERCOT. Second, he plans to improve communication. 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. Mr. Black holds a bachelors degree from the University of Texas at San Antonio. 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. They took until November to send us a list of recommendations for how to deal with the cold weather from Uri, Jones said. Ms. Day joined ERCOT in 2000 and has more than 30 years of experience in the electric power industry. 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 industry leader for online information for tax, accounting and finance professionals. Additionally, he spent time in Washington, DC working in the Majority Leaders office and the Committee on Ways and Means. That means Texas had no way of bringing in more electricity when the states power generators couldnt produce enough power to meet demand last February. Kenan gelman isERCOTs Vice President of Commercial Operations, overseeing Market Operations, Settlement and Retail Operations, and Market Design and Development. He also served as the president and CEO of the New York Independent System Operator from October 2015 to October 2018. 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. 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. (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.). Magness is leaving as ERCOT faces a $2.5 Jones has been to many rodeos. 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 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. Even after it covers some of that debt by using $800 million in revenues from another market, there remains a nearly $1.7 billion deficit. He released a statement following the announcement on Tuesday, saying he would "work to restore ERCOT's reputation as that reliable and trustworthy driver of our grid and the economy.". 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. RELATED: Terminated ERCOT CEO says he won't seek or accept severance pay. 2005-2022 Community Impact Newspaper Co. All rights reserved. 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 Vice President and Chief Financial Officer. He said ERCOT and Brad Jones have roles to play as messengers, but that they alone cannot prevent another power failure. He was an early favorite to replace the embattled CEO and president, Bill Magness, who served in the position for half a decade. 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. 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. 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. 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. Mr. gelman served as Chairman of the ERCOT Technical Advisory Committee from 2011 to 2013. As Vice President of System Planning and Weatherization, Woody Rickerson oversees transmission planning, generator interconnection activities, training, and electric grid operations for the ERCOT region. ERCOT Verified account @ERCOT_ISO. I expect for that plan to be very specific and very aggressive, he said. Brad Jones will fill the role in an interim capacity in early May. In March 2019, she transitioned to editor of the Spring/Klein edition and later became the editor of both the Spring/Klein and Lake Houston/Humble/Kingwood editions in June 2021. 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. 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. Offers may be subject to change without notice. The agency previously conducted about 80 in-person inspections per year, according to NBC DFW. 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. Jones was formerly a top executive at ERCOT before leaving to head up the grid operator in New York. 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. When industry insiders were creating the first protocols for the Texas grid operator, veteran energy executive Brad Jones was at the table. We manage the flow of electric power to more than 26 million Texas customers -- representing 90 percent of the state's Clima en Dallas Fort Worth ahora: Desde clima clido hasta fuertes tormentas. Board members voted 6-1, with two abstaining, in favor of serving Magness with his notice. All Rights Reserved. The Commission named Adrianne Brandt director of ERCOT Inc. accountability, and former ERCOT COO Brad Jones will assist her in a consultant role, the PUC said March 11. Industry insiders will be pounding on his door, but he should seek counsel from consumers, city emergency officials, health professionals and environmental experts, too. She is also responsible for ERCOT Market Rule development and facilitating the ERCOT stakeholder process. In addition, Mr. Seely is responsible for the leadership of the Compliance, Cyber Security, Physical Security, Facilities and Information Governance departments. Brad Jones is an Interim President & Chief Executive Officer at Ercot based in Taylor, Texas. 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. 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. Her position is supported by a grant fromthe Marilyn Brachman Hoffman Foundation. The board of directors gave CEO Bill Magness a 60-day termination notice in early March, weeks after the deadly storm. He brings the right combination of ERCOT knowledge and broad industry expertise needed to provide the stability and reliability that Texans expect and deserve.. Mr. Black leads the organizations external communications, government affairs, and customer support and oversees communications with Texans, state agencies, and lawmakers. 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. 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. The Electric Reliability Council of Texas Board of Directors has selected Brad Jones to serve as interim president and CEO. So far, 125 deaths across the state have been attributed to the storm and power outage. Jones defended the design of Texas electricity market and power grid. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. Categories read more. 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. 05:24. 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. 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.. Greg Abbott. | S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. Posted: Apr 27, 2021 / 02:41 PM CDT. Im not sure being connected to a bigger grid would actually have less chance of causing a problem, Capriglione said. 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.. 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 Elizabeth is an editor on the breaking news desk. 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. 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. 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. 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 responded that meeting this goal would require an enormous investment in 1,000 miles of transmission lines, which could take many years to build. Vice President and Chief Information Officer. But some of the biggest threats to the grids stability are outside of ERCOTs control. 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. 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. 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. During a cold spell earlier this month, natural gas production in Texas dropped significantly, but ERCOT did not report any significant power outages. Mr. Rickerson brings a considerable amount of electric industry experience to his position, including more than 19 years at ERCOT in various roles. Last summer, ERCOT released a 60-item list of reforms the agency was undertaking to improve its broken trust with Texans. The Texas Public Utility Commission chair followed suit March 1. 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. According to his LinkedIn page, he left for retirement after three years. The unprecedented outages caused as much as $129 billion in economic losses. Other companies went bankrupt and continue to struggle because their power plants shut down because of the low temperatures, he added. Kristi Hobbs is ERCOTs Vice President of Corporate Strategy and PUC Relations. The Chief Audit Executive who manages the Internal Audit department administratively reports to Mr. Seely. 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. Hannah joined Community Impact Newspaper as a reporter in May 2016 after graduating with a degree in journalism from Sam Houston State University in Huntsville, Texas. 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.. In 2019, Ms. Spak was promoted to Senior Director of Human Resources at ERCOT and was responsible for all Human Resource functions and programs. Pablo Vegas joined ERCOT in October 2022 as President and CEO. 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. Prior to joining ERCOT, she was with Central Maine Power as part of a core team to implement market deregulation in Maine. Updated 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. 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