They resigned because legislatively, we said, heres what were going to do. 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). 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 both a BS in electrical engineering and an MBA from Texas A&M University. 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 (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.). Prior to working at LCRA, Mr. Taylor was a consultant performing mergers and acquisition advisory services at PricewaterhouseCoopers in New York City. TPR was founded by and is supported by our community. More than 4 million Texas homes and businesses were without power over several days of bitter cold. Previously, Brad was a Director, Information Technol Read More 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 Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. April 27, 2021 Updated: April 27, 2021 6:24 p.m. Unfortunately, he said, ERCOTs push for affordability over reliability finally caught up to it in February 2021. Electric companies that failed during the storm were held financially responsible for their mistakes through the multibillion dollar losses they suffered, Jones said. See here for a complete list of exchanges and delays. The development of those rules was really done by a broad group of diverse participants in the marketplace, including consumers, Jones said. 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. Im not sure being connected to a bigger grid would actually have less chance of causing a problem, Capriglione said. There, he oversaw Commercial Operations and Grid Planning and Operations. There is no recent news or activity for this profile. 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. ERCOT doesnt have the power to mandate major changes. Texas Governor Greg Abbott had called for board members and other leaders to step down in the wake of the crisis. 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. It crippled oil and gas production, and dozens of people died. Jones was formerly a top executive at ERCOT before leaving to head up the grid operator in New York. This op-ed is part of a series published by The Dallas Morning News Opinion section to explore ideas and policies for strengthening electric reliability. 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.". Vice President and Chief Financial Officer. Tags electricity grid ercot Texas Legislature Texas power grid winter freeze. Jones was formerly a top executive at ERCOT before leaving to head up the grid operator in New York. Resources like these are made possible by the generosity of our community of donors, foundations, and corporate partners. 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. The board of directors gave CEO Bill Magness a 60-day termination notice in early March, weeks after the deadly storm. 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. Prior to joining ERCOT, she was with Central Maine Power as part of a core team to implement market deregulation in Maine. Pablo Vegas joined ERCOT in October 2022 as President and CEO. She has over 20 years of experience in the electric industry. 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. Elizabeth is an editor on the breaking news desk. Mr. Taylor is a veteran of the U.S. Army, where he served as a forward observer. What I intend to do here at ERCOT is the very same thing, Jones said of his experience in New York. Magness is leaving as ERCOT faces a $2.5 Dr. Tamby has more than 25 years of experience in the electric power industry, including about 15 years in leadership roles. 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. The board gave Bill Magness a 60-day termination notice at the beginning of March. 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. Brad Jones will fill the role in an interim capacity in early May. 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. 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. 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. Last summer, ERCOT released a 60-item list of reforms the agency was undertaking to improve its broken trust with Texans. WebIf the problem persists, contact the ERCOT Service Desk at ServiceDesk@ercot.com or 1-866-870-8124. 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. Jones has been to many rodeos. Prior to joining ERCOT in October 2015, Mr. gelman served as the Director of Energy Market Policy for CPS Energy. 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. Betty Day was named Vice President of Security & Compliance and Chief Compliance Officer in 2019 after serving in various executive roles since 2011. 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. Haley Samsel is the environmental reporter for the Fort Worth Report. Second, he plans to improve communication. 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. Join others and make your gift to Houston Public Media today. 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. He also worked in various executive-level capacities at TXU Energy, Luminant and parent company Energy Future Holdings.During the 1999 Texas legislative session, he participated in TXUs activities before the Texas Legislature to restructure the electric industry and allow customers to choose their electric suppliers. His previous experience within ERCOT includes serving as Chief of Staff and as Interim Chief Operating Officer. Send a letter to the editor and you just might get published. 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. 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. 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.. Kenan gelman isERCOTs Vice President of Commercial Operations, overseeing Market Operations, Settlement and Retail Operations, and Market Design and Development. All Rights Reserved. Mr. Rickerson brings a considerable amount of electric industry experience to his position, including more than 19 years at ERCOT in various roles. 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. 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. He is a licensed CPA in Texas and New York and a Chartered Financial Analyst Charterholder. Mr. Seely grew up in Irving, Texas, and received Bachelor of Arts degrees in Political Science and French from Texas Tech University in 1999. The commission is in the process of establishing new bylaws that could alleviate those issues, he added. 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. The interim CEO of the Electric Reliability Council of Texas (ERCOT) has publicly revealed hes pro-Bitcoin. The Electric Reliability Council of Texas Board of Directors has selected Brad Jones to serve as interim president and CEO. To View The Rest of This Article Please Visit kvue.com She is a former opinion editor on the editorial board and energy reporter for the business section. 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 Your subscription will be migrated over. read more. Brad Jones Summary Overview CB Rank (Person) 23,869 Primary Job Title Senior Vice President and Chief Operations Officer Primary Organization ERCOT Gender He has a long history of service in both the electric and gas industries. 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. 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. During her tenure at ERCOT,she has served in various roles focused on developing relationships both internal and external to the organization. He played a key role in the development of ERCOT energy and Jones has also previously served as president and CEO of the New York Independent System Operator from October 2015 to October 2018. Magness is leaving as ERCOT faces a$2.5 billion shortfallin payments from retail power providers and others after electricity prices skyrocketed during the energy crisis. While Jones was in New York, Gov. Creating the original set of protocols that everyone could live with was surely good training for updating those protocols now. | By Hannah Brol 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.. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. Jones' appointment is effective May 4, and will last until the position is filled, up to a year, according to ERCOT. State Sen. Kelly Hancock and state Rep. Giovanni Capriglione also answered questions read by County Commissioner Gary Fickes. 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. The industry leader for online information for tax, accounting and finance professionals. He is a member of the Board of Directors of the North American Transmission Forum and has served on various committees of NERC. He graduated from South Texas College of Law in 2002 and earned awards in South Texas esteemed advocacy program. 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. We manage the flow of electric power to more than 26 million Texas customers -- representing 90 percent of the state's Dominic Anthony Walsh can be reached at Dominic@TPR.org and on Twitter at @_DominicAnthony, Texas Public Radio | 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. Brad Jones, interim CEO of ERCOT, explains how the power grid partners with crypto mining facilities within Texas to manage energy demand. 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. Jones was formerly a top executive at ERCOT before leaving to head up the grid operator in New 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. 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. 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. He also served as the president and CEO of the New York Independent System Operator from October 2015 to October 2018. ERCOTs previous chief executive was fired following the storm, and every commissioner serving on the Public Utility Commission resigned as well, 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 has lived in Austin since 2002 and is happily married with two daughters. 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. He spent years developing generation and working with regulators for TXU, and he spent years in top roles at ERCOT. 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. 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. 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. This article was originally published byFort Worth Report. 1996-2023 Electric Reliability Council of Texas, Inc. All rights reserved. The plan will put ERCOT on a solid foundation for providing reliable electric service year-round," Jones said in part. Mr. Black holds a bachelors degree from the University of Texas at San Antonio. He didnt immediately respond to a LinkedIn message. 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, the interim chief executive of the Electric Reliability Council of Texas, has been a busy man since taking over the troubled agency last May. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. Power move: ERCOT appoints Brad Jones as interim president/CEO in wake of Magness termination by: Russell Falcon. He acknowledged that the matter of $3 billion in unpaid bills for power market trades will need to be settled. 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. read more. March 11, 2021 / 3:16 PM / CBS DFW. 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. Jones, who worked for Texas energy companies and in senior roles at ERCOT before leading New York states power grid operator as president, takes Fri, Mar 18 2022 6:26 PM EDT. But some of the biggest threats to the grids stability are outside of ERCOTs control. When industry insiders were creating the first protocols for the Texas grid operator, veteran energy executive Brad Jones was at the table. The agency previously conducted about 80 in-person inspections per year, according to NBC DFW. Why would a CEO in his 50s retire? At that rate, ERCOT might finally be finished paying for this years outages by the end of the century. Trust with electricity companies, trust with lawmakers, and trust, most crucially, with regular Texans. WebAs of 2022, Brad Joness net worth is $100,000 - $1M. 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. 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. It should give you great confidence that were managing this grid in a much more reliable way. 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." Her position is supported by a grant fromthe Marilyn Brachman Hoffman Foundation. 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. 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. Brad Jones will fill the role in an interim capacity in early May. 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. During his time at Siemens, he served as the Lead Architect for delivering mission-critical solutions to ISO/RTOs, like PJM and CAISO. Jones should listen to a range of voices on improving reliability. He is currently responsible for the strategic vision, planning, and leadership of the Finance, Human Resources, Enterprise Architecture, Market Rules and Stakeholder Support, Project Management, Strategic Planning, Enterprise Risk Management, Portfolio Management, and Business Continuity functions. 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. At this point, Jones said there are three components to his trust plan. Mr. Taylor has a BBA from the University of Michigan. August 8, 2022 Executive Employment Agreement. Contact herby emailor viaTwitter. 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. Mr. Black leads the organizations external communications, government affairs, and customer support and oversees communications with Texans, state agencies, and lawmakers. 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. 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. ERCOT Verified account @ERCOT_ISO. The Electric Reliability Council of Texas' board of directors on Tuesday appointed Brad Jones as interim president and CEO. Box 65, Fort Worth, TX 76101, natural gas production in Texas dropped significantly, recommendations from the Federal Energy Regulatory Commission. Andrew Cuomo set out an ambitious goal to shift power generation in the state to 50% renewable by 2030. Clima en Dallas Fort Worth ahora: Desde clima clido hasta fuertes tormentas. 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. Magnessjoined Ercotin 2010, and hes led the grid operator since 2016. 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. 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