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. 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. 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. 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. 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. The Electric Reliability Council of Texas (ERCOT) board has selected a new CEO and president. It crippled oil and gas production, and dozens of people died. Box 13326, Austin, TX 78711-3326 Fax 512-936-7003 News Release Contact: Andrew Barlow March 11, 2021 [email protected] 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. 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?. More than 4 million Texas homes and businesses were without power over several days of bitter cold. Too bad for New York, because a grid executive who can tether political ambitions to physical reality is an asset. 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. Brad Jones, interim CEO of ERCOT, explains how the power grid partners with crypto mining facilities within Texas to manage energy demand. Jones was formerly a top executive at ERCOT before leaving to head up the grid operator in New York. 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. 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 commission is in the process of establishing new bylaws that could alleviate those issues, he added. ERCOTs previous chief executive was fired following the storm, and every commissioner serving on the Public Utility Commission resigned as well, Jones said. He comes to the Bayou City after Let the Houston Public Media newsroom help you start your day. The board gave Bill Magness a 60-day termination notice at the beginning of March. The Texas legislature oversees all of the organizations, and its efforts to mandate weatherization have stalled. 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. All Rights Reserved. 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. Brad Jones (born April 1, 1986) is famous for being football player. According to his LinkedIn page, he left for retirement after three years. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. 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. He is a member of the Board of Directors of the North American Transmission Forum and has served on various committees of NERC. 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.. In her role, Ms. Spak oversees all people functions at ERCOT and develops and oversees strategic human resource planning to provide the company with the best talent while also positioning ERCOT as a premier employer. 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. 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. Betty Day was named Vice President of Security & Compliance and Chief Compliance Officer in 2019 after serving in various executive roles since 2011. Brad Jones Summary Overview CB Rank (Person) 23,869 Primary Job Title Senior Vice President and Chief Operations Officer Primary Organization ERCOT Gender That represents money owed by wholesale buyers to power generators who sold electricity at the market cap rate during the freeze. Haley Samsel is the environmental reporter for the Fort Worth Report. 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. Jones comes on board at a time of intense scrutiny for the grid operator, following the February winter storm and power outages that affected the entire state. Dozens of insurance companies have also filed suit. 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 market systems, as well as risk management and strategic planning. He brings the right combination of ERCOT knowledge and broad industry expertise needed to provide the stability and reliability that Texans expect and deserve.. Vice President, Security & Compliance and Chief Compliance Officer. **Please note** If you are already signed up for the newsletter, you do not need to sign up again. He didnt immediately respond to a LinkedIn message. Trust with electricity companies, trust with lawmakers, and trust, most crucially, with regular Texans. You could change us.. 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.". There were a lot of channels, and we simply werent doing a good job, he said of the companys communications efforts during the freeze. 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. Vice President, System Planning and Weatherization. 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. Contact herby emailor viaTwitter. FORTUNE may receive compensation for some links to products and services on this website. It should give you great confidence that were managing this grid in a much more reliable way. Get smart opinions on the topics North Texans care about. At the Fort Worth Report, news decisions are made independently of our board members and financial supporters. We're in the process of transitioning services for our Today in Houston newsletter. 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. While Jones was in New York, Gov. 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. Their inspectors found 10 potential deficiencies at power plants and six at electric transmission facilities, most of which were resolved. She is a former opinion editor on the editorial board and energy reporter for the business section. Industry insiders will be pounding on his door, but he should seek counsel from consumers, city emergency officials, health professionals and environmental experts, too. All rights reserved. LinkedIn has officially entered its cringe era, and its working. Notifications can be turned off anytime in the browser settings. 1996-2023 Electric Reliability Council of Texas, Inc. All rights reserved. Mr. Taylor has a BBA from the University of Michigan. 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. 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. 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. He was an early favorite to replace the embattled CEO and president, Bill Magness, who served in the position for half a decade. Pablo Vegas joined ERCOT in October 2022 as President and CEO. 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. The Texas Public Utility Commission chair followed suit March 1. Additionally, he spent time in Washington, DC working in the Majority Leaders office and the Committee on Ways and Means. Jones has also previously served as president and CEO of the New York Independent System Operator from October 2015 to October 2018. 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. 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. 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. 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. 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. 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. 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. 1996-2023 Electric Reliability Council of Texas, Inc. All rights reserved. On one hand, there have been six times in the past year that using RUCs have enabled the operator to avoid declaring grid emergencies. 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. Jones did not address the litigation during the town hall. Enough jargon, he said, we have to speak in very clear terms.. 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. And theres another point on Jones rsum that should give Texans confidence in him. Magness is leaving as ERCOT faces a $2.5 ERCOT doesnt have the power to mandate major changes. Other companies went bankrupt and continue to struggle because their power plants shut down because of the low temperatures, he added. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. 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. Resources like these are made possible by the generosity of our community of donors, foundations, and corporate partners. At least 111 Texans died as a result of the disaster, according to numbers released in March by the Department of State Health Services. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. He graduated from South Texas College of Law in 2002 and earned awards in South Texas esteemed advocacy program. 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. March 11, 2021 / 3:16 PM / CBS DFW. Jones was formerly a top executive at ERCOT before leaving to head up the grid operator in New Jones defended the design of Texas electricity market and power grid. Esto es lo que necesita saber para esta semana. 05:24. Prior to joining ERCOT, she worked in hi-tech and healthcare industries. 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. Second, he plans to improve communication. The Electric Reliability Council of Texas hired an old hand as its interim chief executive. Prior to joining ERCOT, he served as Vice President of External Affairs for AEP Texas. Prior to working at LCRA, Mr. Taylor was a consultant performing mergers and acquisition advisory services at PricewaterhouseCoopers in New York City. See here for a complete list of exchanges and delays. 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. 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. By Hannah Brol 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. 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. That included more inspections and assurances from power companies that they were adequately preparing their facilities for winter weather. Peak demand for electricity during the freeze reached nearly 10 megawatts above what ERCOT forecast. He is a licensed CPA in Texas and New York and a Chartered Financial Analyst Charterholder. Mr. Rickerson is responsible for guiding new, in-depth generation inspections and coordinating enforcement actions with the Public Utility Commission. His work examines the institutions and policies affecting millions of students and families across Texas, with a focus on Houston home to the largest school district in the state. 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. 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. Before joining ERCOT, Mr. Taylor spent seven years in the finance department at the Lower Colorado River Authority. Magness has maintained that ERCOT performed well during the energy crisis, and that the Public Utility Commission and state legislature hold most of the power when it comes to mandating grid resiliency. 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. They took until November to send us a list of recommendations for how to deal with the cold weather from Uri, Jones said. Send a letter to the editor and you just might get published. For retirement after three years she worked in hi-tech and healthcare industries BBA the! 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