Dow and X-energy to build U.S. Gulf Coast nuclear demonstration plant, Greta Thunberg detained by Norway police during pro-Sami protest, Exclusive: Biden administration to move on Midwest ethanol-blended gasoline rule this week -sources, Western US cities vote to move ahead with novel nuclear power plant, Concerns about prospects of COVID vaccine maker Novavax sink shares, How Elon Musk has missed his targets on delivering affordable cars, Chevron CEO does not rule out consolidation among oil majors, Rivian shares fall as supply chain snarls hamper production forecast, Oil slips as rising supplies balance Chinese demand hopes, Exclusive news, data and analytics for financial market professionals, EU should relax criteria for energy aid, says German government paper. 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?. 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. 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 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 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. 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. Kristi Hobbs is ERCOTs Vice President of Corporate Strategy and PUC Relations. 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. 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. 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. 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. | She is also responsible for ERCOT Market Rule development and facilitating the ERCOT stakeholder process. 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 The Electric Reliability Council of Texas Board of Directors has selected Brad Jones to serve as interim president and CEO. Were bringing on more reserves in various situations where we see cold fronts come through, bringing on board reserves, and keeping those reserves on to make sure that if something unexpected happens, that we have those reserves available, Jones said. AUSTIN, Texas Updated at 5:27 p.m. with a statement from the interim CEO. He brings the right combination of ERCOT knowledge and broad industry expertise needed to provide the stability and reliability that Texans expect and deserve.. 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. 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. 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. 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. 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. At the Fort Worth Report, news decisions are made independently of our board members and financial supporters. Get smart opinions on the topics North Texans care about. Only three facilities this year failed to meet ERCOTs expectations for winter preparations, Jones told the town hall audience. 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. 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). Magness is leaving as ERCOT faces a $2.5 She has over 20 years of experience in the electric industry. He is a former board member of March of Dimes, Gulf Coast Power Association, Atlas Scholars, and St. Peters Health Partners. He is a member of the Board of Directors of the North American Transmission Forum and has served on various committees of NERC. 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. "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. It was championed by Magness, who is leaving just as the first stages are rolled out. March 11, 2021 / 3:16 PM / CBS DFW. Betty Day was named Vice President of Security & Compliance and Chief Compliance Officer in 2019 after serving in various executive roles since 2011. WebAs of 2022, Brad Joness net worth is $100,000 - $1M. 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.. Magness hasdefendedthe grid operators decision to call for the largest forced poweroutagein U.S. history, saying Texas came within seconds and minutes of catastrophic grid failures. The scene in North Austin on Feb. 16, 2021, following the devastating winter storm. Jones should listen to a range of voices on improving reliability. 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. Updated Vice President and Chief Financial Officer. 2023 Fortune Media IP Limited. Texas Governor Greg Abbott had called for board members and other leaders to step down in the wake of the crisis. Senior Vice President, General Counsel and Corporate Secretary. 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. 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. Fri, Mar 18 2022 6:26 PM EDT. 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. 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. 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. 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. Vice President and Chief Information Officer. Prior to joining ERCOT, he served as Vice President of External Affairs for AEP Texas. 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. ERCOT said in a release that Jones has over 30 years of experience in the energy sector and held positions with ERCOT from April 2013 to October 2015, including senior vice president and chief operating officer. 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. In a post-storm legislative hearing, Magness responded to one lawmaker who asked, How can we do better? by saying, Yall made us. This caused some friction with the governors office, and Jones soon returned to Texas. 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. Brad Jones Summary Overview CB Rank (Person) 23,869 Primary Job Title Senior Vice President and Chief Operations Officer Primary Organization ERCOT Gender Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. For example, power plants were weatherized this winter, but for the ice storm of 2011, he said. 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. 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.. 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. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. And theres another point on Jones rsum that should give Texans confidence in him. 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. 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. He graduated from Boston University in 1987 with a BA in international relations. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. 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. Jones will assist Adrianne Brandt, the agencys new director, in her new role. The Electric Reliability Council of Texas' board of directors on Tuesday appointed Brad Jones as interim president and CEO. Terms & Conditions. Jones did not address the litigation during the town hall. The Electric Reliability Council of Texas (ERCOT) board has selected a new CEO and president. Jones defended the design of Texas electricity market and power grid. The interim CEO of the Electric Reliability Council of Texas (ERCOT) has publicly revealed hes pro-Bitcoin. He was an early favorite to replace the embattled CEO and president, Bill Magness, who served in the position for half a decade. The Electric Reliability Council of Texas hired an old hand as its interim chief executive. Their inspectors found 10 potential deficiencies at power plants and six at electric transmission facilities, most of which were resolved. The board gave Bill Magness a 60-day termination notice at the beginning of March. Dominic Anthony Walsh covers education & families for Houston Public Media's enterprise team. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. 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. 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. On Tuesday night, Jones tuned in virtually for a town hall with voters and Republican officials based in Tarrant County. The development of those rules was really done by a broad group of diverse participants in the marketplace, including consumers, Jones said. Pablo Vegas joined ERCOT in October 2022 as President and CEO. According to the release, Brandt will be assisted by fellow Texan Brad Jones, who previously served as chief operations officer of ERCOT. Jones was formerly a top executive at ERCOT before leaving to head up the grid operator in New York. 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. Third is better dialogue on needed technical changes in the power market and ERCOT. However, Magness has told Ercots board he wont seek or accept a severance, according to a statement. Mr. Woodfin has over 30 years of experience in the electric power industry, including leadership positions in both system planning and system operations for ERCOT. 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. Hannah covers education, local government, transportation, business, real estate development and nonprofits in these communities. P.O. Vice President, 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. Jeyant Tamby serves as ERCOTs Chief Administrative Officer and Chief of Staff. 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 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." 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 more than 25 years of experience in the electric power industry, including about 15 years in leadership roles. But some of the biggest threats to the grids stability are outside of ERCOTs control. More than 4 million Texas homes and businesses were without power over several days of bitter cold. 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. 4:45 PM Mar 11, 2021 CST That included more inspections and assurances from power companies that they were adequately preparing their facilities for winter weather. 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. At this point, Jones said there are three components to his trust plan. Peter Cramton, who resigned as vice chair of the ERCOT board after the outages, said one of incoming CEO Brad Jones major challenges will be communicating the need to weatherize the supply of natural gas. Brad Jones will fill the role in an interim capacity in early May. 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. They resigned because legislatively, we said, heres what were going to do. Trust with electricity companies, trust with lawmakers, and trust, most crucially, with regular Texans. He earned his bachelors degree in electrical engineering from the Victoria Jubilee Technical Institute, Bombay. 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 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. 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. 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. Previously, Brad was a Director, Information Technol Read More Creating the original set of protocols that everyone could live with was surely good training for updating those protocols now. 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