Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. read more. In a post-storm legislative hearing, Magness responded to one lawmaker who asked, How can we do better? by saying, Yall made us. P.O. 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. Vice President and Chief Information Officer. The Electric Reliability Council of Texas hired an old hand as its interim chief executive. 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. Brad Jones will fill the role in an interim capacity in early May. Vice President, System Planning and Weatherization. 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. 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. The scene in North Austin on Feb. 16, 2021, following the devastating winter storm. He played a key role in the development of ERCOT energy and market systems, as well as risk management and strategic planning. Texas lawmakers could change that, Heres everything you need to know about school vouchers in Texas, Texas Education Agency denies reapproval for Houston special education school Avondale House, adding strain to underfunded system. According to the release, Brandt will be assisted by fellow Texan Brad Jones, who previously served as chief operations officer of ERCOT. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. Prior to joining ERCOT, she was with Central Maine Power as part of a core team to implement market deregulation in Maine. The states utilities cant expect a once-in-100-year storm every year, but ERCOT must ensure its ready for the next one, Jones said. WebAs of 2022, Brad Joness net worth is $100,000 - $1M. This years storm was far worse, and ERCOT needs to look at weatherization planning. Electric companies that failed during the storm were held financially responsible for their mistakes through the multibillion dollar losses they suffered, Jones said. 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 is a former board member of March of Dimes, Gulf Coast Power Association, Atlas Scholars, and St. Peters Health Partners. 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 most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. "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. Magnessjoined Ercotin 2010, and hes led the grid operator since 2016. The interim CEO of the Electric Reliability Council of Texas (ERCOT) has publicly revealed hes pro-Bitcoin. 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. 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. 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. 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. During his time at Siemens, he served as the Lead Architect for delivering mission-critical solutions to ISO/RTOs, like PJM and CAISO. In 2019, Ms. Spak was promoted to Senior Director of Human Resources at ERCOT and was responsible for all Human Resource functions and programs. Jones has also previously served as president and CEO of the New York Independent System Operator from October 2015 to October 2018. He didnt immediately respond to a LinkedIn message. LinkedIn has officially entered its cringe era, and its working. We're in the process of transitioning services for our Today in Houston newsletter. 2005-2022 Community Impact Newspaper Co. All rights reserved. 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. 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. She is a former opinion editor on the editorial board and energy reporter for the business section. 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. 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. You could change us.. 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. (Courtesy Public Utility Commission of Texas), Editor, Spring/Klein & Lake Houston/Humble/Kingwood. All of those members lived out of state, records show. 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. Mr. Black also served as the Director of Governmental Affairs for the AEP companies in Texas. The Electric Reliability Council of Texas Board of Directors has selected Brad Jones to serve as interim president and CEO for the organization that manages the Texas power grid. Jeyant Tamby serves as ERCOTs Chief Administrative Officer and Chief of Staff. Jones was once Ercots chief operating officer, and is a Texan. 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. 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). The industry leader for online information for tax, accounting and finance professionals. 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. Mr. Taylor has more than 20 years of finance experience in various roles. And theres another point on Jones rsum that should give Texans confidence in him. On one hand, there have been six times in the past year that using RUCs have enabled the operator to avoid declaring grid emergencies. Your subscription will be migrated over. 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. At the Fort Worth Report, news decisions are made independently of our board members and financial supporters. Prior to working at LCRA, Mr. Taylor was a consultant performing mergers and acquisition advisory services at PricewaterhouseCoopers in New York City. 1996-2023 Electric Reliability Council of Texas, Inc. All rights reserved. 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. Dramatically shifting our power grid to cleaner energy is a good thing, but its only a politicians promise without electricity experts who know how to build a system to make it so. 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. 1996-2023 Electric Reliability Council of Texas, Inc. All rights reserved. This caused some friction with the governors office, and Jones soon returned to Texas. Only three facilities this year failed to meet ERCOTs expectations for winter preparations, Jones told the town hall audience. 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. Their inspectors found 10 potential deficiencies at power plants and six at electric transmission facilities, most of which were resolved. More than 400 Texans have filed 170 lawsuits against utility companies and ERCOT over the blackouts that killed hundreds of people over the course of a week. The generators did a fantastic job of getting ready for this, and were seeing that today, Jones said. Send a letter to the editor and you just might get published. Pablo Vegas joined ERCOT in October 2022 as President and CEO. 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.. At this point, Jones said there are three components to his trust plan. 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. Additionally, he spent time in Washington, DC working in the Majority Leaders office and the Committee on Ways and Means. 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. 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. Join others and make your gift to Houston Public Media today. 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." The development of those rules was really done by a broad group of diverse participants in the marketplace, including consumers, Jones said. The unprecedented outages caused as much as $129 billion in economic losses. But some of the biggest threats to the grids stability are outside of ERCOTs control. Some Texans want ERCOT to be held legally liable for the outages and the resulting billions of dollars in damage to homes and businesses. 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. Woodfin has over 30 years of experience in the electric power industry, including leadership positions in both system planning and system operations for ERCOT. But one thing the crisis does is it opens the opportunity for, I would hope, the legislature and the PUC and the Railroad Commission to understand that there is a serious issue here with gas supply, and now it needs to be solved.. He didnt immediately respond to a LinkedIn message. 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 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. 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. Elizabeth Souder. 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. 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 defended the design of Texas electricity market and power grid. The board of directors gave CEO Bill Magness a 60-day termination notice in early March, weeks after the deadly storm. Powered and implemented by Interactive Data Managed Solutions. 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.". Example video title will go here for this video. 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. On Tuesday night, Jones tuned in virtually for a town hall with voters and Republican officials based in Tarrant County. Kenan gelman isERCOTs Vice President of Commercial Operations, overseeing Market Operations, Settlement and Retail Operations, and Market Design and Development. 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. 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