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. Industry veteran Brad Jones is taking over as interim president and CEO of the Ms. Spak has more than 15 years of extensive experience in human resources at diverse corporate entities. 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.. 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 graduated from Boston University in 1987 with a BA in international relations. 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. The industry leader for online information for tax, accounting and finance professionals. Dozens of insurance companies have also filed suit. Instead, Jones said in an interview with The Dallas Morning News that he will start by rebuilding trust. 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. Kristi Hobbs is ERCOTs Vice President of Corporate Strategy and PUC Relations. 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. Additionally, he spent time in Washington, DC working in the Majority Leaders office and the Committee on Ways and Means. 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. Prior to joining ERCOT, she worked in hi-tech and healthcare industries. During her tenure at ERCOT,she has served in various roles focused on developing relationships both internal and external to the organization. Before his career in the regulated utility industry, Mr. Vegas served in senior leadership positions with IBM, PricewaterhouseCoopers, and Andersen Consulting. Mr. Taylor has more than 20 years of finance experience in various roles. 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. 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. Greg Abbott. You could change us.. The interim CEO of the Electric Reliability Council of Texas (ERCOT) has publicly revealed hes pro-Bitcoin. August 8, 2022 Executive Employment Agreement. 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. He has over 35 years of experience in the electric energy industry. Her position is supported by a grant fromthe Marilyn Brachman Hoffman Foundation. 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. 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. What I intend to do here at ERCOT is the very same thing, Jones said of his experience in New York. Vice President, Corporate Strategy and PUC Relations. Mr. Seely has been with ERCOT since May 2005. Unfortunately, he said, ERCOTs push for affordability over reliability finally caught up to it in February 2021. 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. 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. Prior to CI, Hannah served as associate editor of The Houstonian, interned with Community Impact Newspaper and spent time writing for the Sam Houston State University College of Fine Arts and Mass Communication and The Huntsville Item. He comes to the Bayou City after Let the Houston Public Media newsroom help you start your day. 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 During a cold spell earlier this month, natural gas production in Texas dropped significantly, but ERCOT did not report any significant power outages. Betty Day was named Vice President of Security & Compliance and Chief Compliance Officer in 2019 after serving in various executive roles since 2011. Offers may be subject to change without notice. Robert Black joined ERCOT as Vice President of Public Affairs in November 2022 with more than three decades of political and government experience. If you'd like to sign up now, fill out the form below and we will add you as soon as we finish the transition. The generators did a fantastic job of getting ready for this, and were seeing that today, Jones said. Hannah covers education, local government, transportation, business, real estate development and nonprofits in these communities. On Tuesday night, Jones tuned in virtually for a town hall with voters and Republican officials based in Tarrant County. 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. However, Magness has told Ercots board he wont seek or accept a severance, according to a statement. 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. On one hand, there have been six times in the past year that using RUCs have enabled the operator to avoid declaring grid emergencies. 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. 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. 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. April 27, 2021 Updated: April 27, 2021 6:24 p.m. 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. 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. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. 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.. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. Send a letter to the editor and you just might get published. He didnt immediately respond to a LinkedIn message. 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. Algorithmic rank assigned to the top 100,000 most active People, The organization associated to the person's primary job, Total number of current Jobs the person has, CB Rank (Hub): Algorithmic rank assigned to the top 100,000 most active Hubs, Total number of events the individual appeared in, Senior Vice President and Chief Operations Officer. 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. By Hannah Brol There were a lot of channels, and we simply werent doing a good job, he said of the companys communications efforts during the freeze. 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. 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. Vice President and Chief Information Officer. But some of the biggest threats to the grids stability are outside of ERCOTs control. 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. Ms. Day joined ERCOT in 2000 and has more than 30 years of experience in the electric power industry. Kenan gelman isERCOTs Vice President of Commercial Operations, overseeing Market Operations, Settlement and Retail Operations, and Market Design and Development. Notifications can be turned off anytime in the browser settings. Esto es lo que necesita saber para esta semana. He spent years developing generation and working with regulators for TXU, and he spent years in top roles at ERCOT. FORTUNE may receive compensation for some links to products and services on this website. This years storm was far worse, and ERCOT needs to look at weatherization planning. 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. 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. Prior to joining ERCOT in October 2015, Mr. gelman served as the Director of Energy Market Policy for CPS Energy. 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. Brad Jones is an Interim President & Chief Executive Officer at Ercot based in Taylor, Texas. Too bad for New York, because a grid executive who can tether political ambitions to physical reality is an asset. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. His previous experience within ERCOT includes serving as Chief of Staff and as Interim Chief Operating Officer. Brad Jones of Liberty Hill is the Interim CEO of ERCOT. Her current responsibilities include Security (Cyber and Physical), Compliance, and Facilities. Mr. Rickerson brings a considerable amount of electric industry experience to his position, including more than 19 years at ERCOT in various roles. 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. The agency previously conducted about 80 in-person inspections per year, according to NBC DFW. 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). Jones defended the design of Texas electricity market and power grid. 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. He acknowledged that the matter of $3 billion in unpaid bills for power market trades will need to be settled. Fri, Mar 18 2022 6:26 PM EDT. 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. 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. Mr. Rickerson is responsible for guiding new, in-depth generation inspections and coordinating enforcement actions with the Public Utility Commission. 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. Houston Public Media is supported with your gifts to the Houston Public Media Foundation and is licensed to the University of Houston. Mara Spak is Vice President of Human Resources at ERCOT. It was championed by Magness, who is leaving just as the first stages are rolled out. **Please note** If you are already signed up for the newsletter, you do not need to sign up again. 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. AUSTIN, Texas Updated at 5:27 p.m. with a statement from the interim CEO. Brad Jones Summary Overview CB Rank (Person) 23,869 Primary Job Title Senior Vice President and Chief Operations Officer Primary Organization ERCOT Gender Mr. gelman served as Chairman of the ERCOT Technical Advisory Committee from 2011 to 2013. 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. She earned bachelors degrees in mathematics and physics from Berea College in Kentucky and attended graduate school at the University of Kentucky. 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. According to the release, Brandt will be assisted by fellow Texan Brad Jones, who previously served as chief operations officer of ERCOT. 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Brad Jones will fill the role in an interim capacity in early May. Industry insiders will be pounding on his door, but he should seek counsel from consumers, city emergency officials, health professionals and environmental experts, too. 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. Mr. Taylor has a BBA from the University of Michigan. Box 65, Fort Worth, TX 76101, natural gas production in Texas dropped significantly, recommendations from the Federal Energy Regulatory Commission. Dr. Tamby has more than 25 years of experience in the electric power industry, including about 15 years in leadership roles. A licensed professional engineer, Mr. Rickerson has worked for utilities in Texas, Arizona, and New Mexico. Prior to joining ERCOT, he served as Vice President of External Affairs for AEP Texas. Jones was once Ercots chief operating officer, and is a Texan. 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 After so many angry Texans became armchair electricity experts on social media during the February freeze, this state could use some tethering to reality. Jones was once Ercots chief operating officer, and is a Texan. Dominic Anthony Walsh covers education & families for Houston Public Media's enterprise team. (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.). 2023 Fortune Media IP Limited. 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. Find the full series here: Keeping the Lights On. 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. Resources like these are made possible by the generosity of our community of donors, foundations, and corporate partners. Vice President, Security & Compliance and Chief Compliance Officer. 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. 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. 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. Mr. Seely grew up in Irving, Texas, and received Bachelor of Arts degrees in Political Science and French from Texas Tech University in 1999. 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. 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. He has a bachelors degree in electrical engineering from New Mexico State University and a masters degree in engineering management from the University of Colorado. We're in the process of transitioning services for our Today in Houston newsletter. 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. 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.. 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. Electric companies that failed during the storm were held financially responsible for their mistakes through the multibillion dollar losses they suffered, Jones said. There, he oversaw Commercial Operations and Grid Planning and Operations. March 11, 2021 / 3:16 PM / CBS DFW. Texans can be confident that the grid is more prepared than ever before, he added. The Electric Reliability Council of Texas Board of Directors has selected Brad Jones to serve as interim president and CEO. He has a long history of service in both the electric and gas industries. Prior to joining ERCOT, she was with Central Maine Power as part of a core team to implement market deregulation in Maine. Senior Vice President, General Counsel and Corporate Secretary. 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. All rights reserved. It crippled oil and gas production, and dozens of people died. Jeyant Tamby serves as ERCOTs Chief Administrative Officer and Chief of Staff. The plan will put ERCOT on a solid foundation for providing reliable electric service year-round," Jones said in part. The Electric Reliability Council of Texas' board of directors on Tuesday appointed Brad Jones as interim president and CEO. DETAILS BELOW. 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. 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. 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. 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. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. Trust with electricity companies, trust with lawmakers, and trust, most crucially, with regular Texans. Fort Worth Business Press Vice President, System Planning and Weatherization. He played a key role in the development of ERCOT energy and At that rate, ERCOT might finally be finished paying for this years outages by the end of the century. Second, he plans to improve communication. 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. In 2019, Ms. Spak was promoted to Senior Director of Human Resources at ERCOT and was responsible for all Human Resource functions and programs. He is a licensed CPA in Texas and New York and a Chartered Financial Analyst Charterholder. The board of directors gave CEO Bill Magness a 60-day termination notice in early March, weeks after the deadly storm. 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. Elizabeth Souder is commentary and Sunday Opinion editor and a member of the editorial board. Previously, she spent nine years with East Kentucky Power Cooperative in the areas of load forecasting, load research, and market research. 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. To View The Rest of This Article Please Visit kvue.com 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. 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. Your subscription will be migrated over. Previously, Brad was a Director, Information Technol Read More 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. Andrew Cuomo set out an ambitious goal to shift power generation in the state to 50% renewable by 2030. Creating the original set of protocols that everyone could live with was surely good training for updating those protocols now. 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