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. Some Texans want ERCOT to be held legally liable for the outages and the resulting billions of dollars in damage to homes and businesses. He has over 35 years of experience in the electric energy industry. 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. Jones was once Ercots chief operating officer, and is a Texan. Vice President and Chief Financial Officer. All of those members lived out of state, records show. Esto es lo que necesita saber para esta semana. See here for a complete list of exchanges and delays. There will be times that we need to speak frankly at ERCOT about what needs to occur to preserve reliability.. 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. However, Magness has told Ercots board he wont seek or accept a severance, according to a statement. On one hand, there have been six times in the past year that using RUCs have enabled the operator to avoid declaring grid emergencies. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. AUSTIN, Texas Updated at 5:27 p.m. with a statement from the interim CEO. Mr. Black also served as the Director of Governmental Affairs for the AEP companies in Texas. Their inspectors found 10 potential deficiencies at power plants and six at electric transmission facilities, most of which were resolved. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. Jones has also 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 gap left by the previous CEO who was ousted in the wake of a deadly blackout in February. ERCOTs previous chief executive was fired following the storm, and every commissioner serving on the Public Utility Commission resigned as well, Jones said. March 11, 2021 / 3:16 PM / CBS DFW. Mara Spak is Vice President of Human Resources at ERCOT. The unprecedented outages caused as much as $129 billion in economic losses. Haley Samsel is the environmental reporter for the Fort Worth Report. So far, 125 deaths across the state have been attributed to the storm and power outage. 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. 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. Prior to joining ERCOT, she worked in hi-tech and healthcare industries. Prior to joining NiSource, Mr. Vegas held a variety of senior executive positions with American Electric Power (AEP), including President and Chief Operating Officer of AEP Ohio, President and Chief Operating Officer of AEP Texas, and Vice President and Chief Information Officer of AEP. 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. Get highlights, trending news, and behind-the-scenes insights from Houston Public Media delivered to your inbox each week. The Electric Reliability Council of Texas' board of directors on Tuesday appointed Brad Jones as interim president and CEO. 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.. Greg Abbott. Dan Woodfin is ERCOTs Vice President of System Operations. 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. 2005-2022 Community Impact Newspaper Co. All rights reserved. According to the release, Brandt will be assisted by fellow Texan Brad Jones, who previously served as chief operations officer of ERCOT. Brad Jones will fill the role in an interim capacity in early May. Andrew Cuomo set out an ambitious goal to shift power generation in the state to 50% renewable by 2030. 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. 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. 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 wasnt ready to say if he is leaning to one idea or another. He played a key role in the development of ERCOT energy and market systems, as well as risk management and strategic planning. Ms. Spak graduated from Southwestern University with a BA in psychology. 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. The Texas legislature oversees all of the organizations, and its efforts to mandate weatherization have stalled. 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. WebAs of 2022, Brad Joness net worth is $100,000 - $1M. Mr. Rickerson brings a considerable amount of electric industry experience to his position, including more than 19 years at ERCOT in various roles. Power move: ERCOT appoints Brad Jones as interim president/CEO in wake of Magness termination by: Russell Falcon. 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.". We're in the process of transitioning services for our Today in Houston newsletter. He didnt immediately respond to a LinkedIn message. Ms. Day joined ERCOT in 2000 and has more than 30 years of experience in the electric power industry. Prior to joining ERCOT, he served as Vice President of External Affairs for AEP Texas. You could change us.. 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. Brad Jones, interim CEO of ERCOT, explains how the power grid partners with crypto mining facilities within Texas to manage energy demand. By Hannah Brol The interim CEO of the Electric Reliability Council of Texas (ERCOT) has publicly revealed hes pro-Bitcoin. 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. At the Fort Worth Report, news decisions are made independently of our board members and financial supporters. Businesses are coming here, more people are moving to Texas, so we have to continue to grow, Jones said. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. More than 4 million Texas homes and businesses were without power over several days of bitter cold. 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. Houston Public Media is supported with your gifts to the Houston Public Media Foundation and is licensed to the University of Houston. Jeyant Tamby serves as ERCOTs Chief Administrative Officer and Chief of Staff. In 2019, Ms. Spak was promoted to Senior Director of Human Resources at ERCOT and was responsible for all Human Resource functions and programs. Prior to working at LCRA, Mr. Taylor was a consultant performing mergers and acquisition advisory services at PricewaterhouseCoopers in New York City. Other companies went bankrupt and continue to struggle because their power plants shut down because of the low temperatures, he added. The board gave Bill Magness a 60-day termination notice at the beginning of March. 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. 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. 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. Elizabeth is an editor on the breaking news desk. 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. Creating the original set of protocols that everyone could live with was surely good training for updating those protocols now. There, he oversaw Commercial Operations and Grid Planning and Operations. 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 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. Vegas had profit and loss accountability for NiSources six gas and electric utility companies as well as responsibility for strategy, planning, operations, construction, engineering, regulatory, environmental services, and federal government affairs for NiSource. Elizabeth Souder. 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. Jones will serve beginning May 4. Prior to joining ERCOT, she was with Central Maine Power as part of a core team to implement market deregulation in Maine. To View The Rest of This Article Please Visit kvue.com 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.. 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. 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. Too bad for New York, because a grid executive who can tether political ambitions to physical reality is an asset. First, he said, ERCOT needs stabilizing, the company itself and the market participants. He acknowledged that the matter of $3 billion in unpaid bills for power market trades will need to be settled. 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. 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. This caused some friction with the governors office, and Jones soon returned to Texas. He knows that all potential solutions building more plants, re-regulating the industry, fundamentally changing the market to favor more capacity, building more power lines also present serious challenges. Dominic Anthony Walsh can be reached at Dominic@TPR.org and on Twitter at @_DominicAnthony, Texas Public Radio | 1996-2023 Electric Reliability Council of Texas, Inc. All rights reserved. Her current responsibilities include Security (Cyber and Physical), Compliance, and Facilities. (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.). The Texas Public Utility Commission chair followed suit March 1. 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 commission is in the process of establishing new bylaws that could alleviate those issues, he added. 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. When industry insiders were creating the first protocols for the Texas grid operator, veteran energy executive Brad Jones was at the table. Additionally, he spent time in Washington, DC working in the Majority Leaders office and the Committee on Ways and Means. 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. 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. 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. Betty Day was named Vice President of Security & Compliance and Chief Compliance Officer in 2019 after serving in various executive roles since 2011. 4:45 PM Mar 11, 2021 CST At that rate, ERCOT might finally be finished paying for this years outages by the end of the century. Find the full series here: Keeping the Lights On. 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. FORTUNE may receive compensation for some links to products and services on this website. 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. Mr. Black holds a bachelors degree from the University of Texas at San Antonio. Mr. Rickerson is responsible for guiding new, in-depth generation inspections and coordinating enforcement actions with the Public Utility Commission. Her position is supported by a grant fromthe Marilyn Brachman Hoffman Foundation. Dominic Anthony Walsh covers education & families for Houston Public Media's enterprise team. 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. Last summer, ERCOT released a 60-item list of reforms the agency was undertaking to improve its broken trust with Texans. He said ERCOT and Brad Jones have roles to play as messengers, but that they alone cannot prevent another power failure. 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 Third is better dialogue on needed technical changes in the power market and ERCOT. They took until November to send us a list of recommendations for how to deal with the cold weather from Uri, Jones said. Robert Black joined ERCOT as Vice President of Public Affairs in November 2022 with more than three decades of political and government experience. What I intend to do here at ERCOT is the very same thing, Jones said of his experience in New York. Enough jargon, he said, we have to speak in very clear terms.. Tags electricity grid ercot Texas Legislature Texas power grid winter freeze. Jones will assist Adrianne Brandt, the agencys new director, in her new role. Jones was formerly a top executive at ERCOT before leaving to head up the grid operator in New 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. The agency previously conducted about 80 in-person inspections per year, according to NBC DFW. Vice President, Corporate Strategy and PUC Relations. 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. During her tenure at ERCOT,she has served in various roles focused on developing relationships both internal and external to the organization. Read more about our editorial independence policyhere. 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