Senior Vice President and Chief Administrative Officer, Chief of Staff. All Rights Reserved. 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. Jones did not address the litigation during the town hall. In a post-storm legislative hearing, Magness responded to one lawmaker who asked, How can we do better? by saying, Yall made us. 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.. 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. It should give you great confidence that were managing this grid in a much more reliable way.. It crippled oil and gas production, and dozens of people died. 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. However, Magness has told Ercots board he wont seek or accept a severance, according to a statement. 2023 Fortune Media IP Limited. 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. 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. According to the release, Brandt will be assisted by fellow Texan Brad Jones, who previously served as chief operations officer of ERCOT. He is a former board member of March of Dimes, Gulf Coast Power Association, Atlas Scholars, and St. Peters Health Partners. Posted: Apr 27, 2021 / 02:41 PM CDT. He is a member of the Board of Directors of the North American Transmission Forum and has served on various committees of NERC. 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 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. Why would a CEO in his 50s retire? Powered and implemented by Interactive Data Managed Solutions. 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. Mr. Rickerson brings a considerable amount of electric industry experience to his position, including more than 19 years at ERCOT in various roles. read more. 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. 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. She joined ERCOT in 2015 as Director of Total Rewards and Systems and was responsible for the companys compensation, benefits, human resources systems, and corporate payroll. Last summer, ERCOT released a 60-item list of reforms the agency was undertaking to improve its broken trust with Texans. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. 05:24. Find the full series here: Keeping the Lights On. 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. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. 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. Brad Jones will fill the role in an interim capacity in early May. 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. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. 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. 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 Electric Reliability Council of Texas (ERCOT) board has selected a new CEO and president. Elizabeth Souder is commentary and Sunday Opinion editor and a member of the editorial board. Magness is leaving as ERCOT faces a $2.5 (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.). Elizabeth is an editor on the breaking news desk. He spent years developing generation and working with regulators for TXU, and he spent years in top roles at ERCOT. She has over 20 years of experience in the electric industry. So far, 125 deaths across the state have been attributed to the storm and power outage. 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.. Her position is supported by a grant fromthe Marilyn Brachman Hoffman Foundation. Vice President, Security & Compliance and Chief Compliance Officer. WebAs of 2022, Brad Joness net worth is $100,000 - $1M. LinkedIn has officially entered its cringe era, and its working. 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. 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. Jones was formerly a top executive at ERCOT before leaving to head up the grid operator in New WebPublic Utility Commission of Texas 1701 N. Congress, P.O. 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. There will be times that we need to speak frankly at ERCOT about what needs to occur to preserve reliability.. 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. Senior Vice President, General Counsel and Corporate Secretary. He graduated from Boston University in 1987 with a BA in international relations. 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. 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. RELATED: Terminated ERCOT CEO says he won't seek or accept severance pay. He earned both a BS in electrical engineering and an MBA from Texas A&M University. Pablo Vegas joined ERCOT in October 2022 as President and CEO. I commend the ERCOT Board for confirming a leader of Brads caliber as interim CEO, said PUC Chairman Peter Lake in a release statement. According to his LinkedIn page, he left for retirement after three years. 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.. His previous experience within ERCOT includes serving as Chief of Staff and as Interim Chief Operating Officer. He also previously served as the Vice President for Grid Control at Omnetric Group, which was formed as a joint venture between Siemens and Accenture to drive IT/OT convergence in the power industry. The industry leader for online information for tax, accounting and finance professionals. 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?. He was active with the Texas Reliability Entity, Edison Electric Institute and the FutureGen Industrial Alliance. Elizabeth Souder. During a cold spell earlier this month, natural gas production in Texas dropped significantly, but ERCOT did not report any significant power outages. DETAILS BELOW. While Jones was in New York, Gov. The Electric Reliability Council of Texas hired an old hand as its interim chief executive. 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. When industry insiders were creating the first protocols for the Texas grid operator, veteran energy executive Brad Jones was at the table. Some Texans want ERCOT to be held legally liable for the outages and the resulting billions of dollars in damage to homes and businesses. Ms. Spak has more than 15 years of extensive experience in human resources at diverse corporate entities. Jones, who worked for Texas energy companies and in senior roles at ERCOT before leading New York states power grid operator as president, takes Before joining ERCOT, Mr. Taylor spent seven years in the finance department at the Lower Colorado River Authority. Their inspectors found 10 potential deficiencies at power plants and six at electric transmission facilities, most of which were resolved. 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. ERCOT Verified account @ERCOT_ISO. 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. 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. 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. 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. 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. Kristi Hobbs is ERCOTs Vice President of Corporate Strategy and PUC Relations. Terms & Conditions. Dan Woodfin is ERCOTs Vice President of System Operations. 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. (Courtesy Public Utility Commission of Texas), Editor, Spring/Klein & Lake Houston/Humble/Kingwood. Categories 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). 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. 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. Creating the original set of protocols that everyone could live with was surely good training for updating those protocols now. Second, he plans to improve communication. Mr. Rickerson is responsible for guiding new, in-depth generation inspections and coordinating enforcement actions with the Public Utility Commission. He played a key role in the development of ERCOT energy and market systems, as well as risk management and strategic planning. 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.. The Texas legislature oversees all of the organizations, and its efforts to mandate weatherization have stalled. 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 | Brad Jones will fill the role in an interim capacity in early May. Third is better dialogue on needed technical changes in the power market and ERCOT. 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. Peak demand for electricity during the freeze reached nearly 10 megawatts above what ERCOT forecast. 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. Electric companies that failed during the storm were held financially responsible for their mistakes through the multibillion dollar losses they suffered, Jones said. 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. 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