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. Greg Abbott. 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. I commend the ERCOT Board for confirming a leader of Brads caliber as interim CEO, said PUC Chairman Peter Lake in a release statement. Jones was formerly a top executive at ERCOT before leaving to head up the grid operator in New York. Too bad for New York, because a grid executive who can tether political ambitions to physical reality is an asset. According to the release, Brandt will be assisted by fellow Texan Brad Jones, who previously served as chief operations officer of ERCOT. Previously, Brad was a Director, Information Technol Read More ERCOT doesnt have the power to mandate major changes. Prior to joining ERCOT, she worked in hi-tech and healthcare industries. **Please note** If you are already signed up for the newsletter, you do not need to sign up again. While Jones was in New York, Gov. First, he said, ERCOT needs stabilizing, the company itself and the market participants. Resources like these are made possible by the generosity of our community of donors, foundations, and corporate partners. 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. 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. 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. Vice President, System Planning and Weatherization. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. 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. 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 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. However, Magness has told Ercots board he wont seek or accept a severance, according to a statement. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. He has over 35 years of experience in the electric energy industry. 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. 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). During his time at Siemens, he served as the Lead Architect for delivering mission-critical solutions to ISO/RTOs, like PJM and CAISO. Their inspectors found 10 potential deficiencies at power plants and six at electric transmission facilities, most of which were resolved. 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. 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. Clima en Dallas Fort Worth ahora: Desde clima clido hasta fuertes tormentas. Texans can be confident that the grid is more prepared than ever before, he added. Unfortunately, he said, ERCOTs push for affordability over reliability finally caught up to it in February 2021. LinkedIn has officially entered its cringe era, and its working. In her role, Mrs. Hobbs oversees ERCOT relations with the Public Utility Commission of Texas (PUCT), enterprise risk management, strategic analysis, project and portfolio management, as well as ERCOT, Inc. business continuity planning. FORTUNE may receive compensation for some links to products and services on this website. 1996-2023 Electric Reliability Council of Texas, Inc. All rights reserved. Her position is supported by a grant fromthe Marilyn Brachman Hoffman Foundation. Brad Jones will fill the role in an interim capacity in early May. All of those members lived out of state, records show. 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. 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 played a key role in the development of ERCOT energy and Dr. Tamby has a bachelors degree in electrical engineering from Anna University in India, and masters and doctorate degrees in electrical engineering from Queens University in Canada. She is also responsible for ERCOT Market Rule development and facilitating the ERCOT stakeholder process. The Electric Reliability Council of Texas (ERCOT) board has selected a new CEO and president. He earned his bachelors degree in electrical engineering from the Victoria Jubilee Technical Institute, Bombay. 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. Mr. Seely has been with ERCOT since May 2005. 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.. WebHis previous experience within ERCOT includes serving as Chief of Staff and as Interim Chief Operating Officer. She has over 20 years of experience in the electric industry. 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. All rights reserved. Fri, Mar 18 2022 6:26 PM EDT. 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. Our Standards: The Thomson Reuters Trust Principles. Robert Black joined ERCOT as Vice President of Public Affairs in November 2022 with more than three decades of political and government experience. So far, 125 deaths across the state have been attributed to the storm and power outage. 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. Jones, who worked for Texas energy companies and in senior roles at ERCOT before leading New York states power grid operator as president, takes 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. Ms. Spak graduated from Southwestern University with a BA in psychology. There is no recent news or activity for this profile. He has lived in Austin since 2002 and is happily married with two daughters. 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.. Mr. Black holds a bachelors degree from the University of Texas at San Antonio. Box 13326, Austin, TX 78711-3326 Fax 512-936-7003 News Release Contact: Andrew Barlow March 11, 2021 media@puc.texas.gov In 2019, Ms. Spak was promoted to Senior Director of Human Resources at ERCOT and was responsible for all Human Resource functions and programs. 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. 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. 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. Jones' appointment is effective May 4, and will last until the position is filled, up to a year, according to ERCOT. Some Texans want ERCOT to be held legally liable for the outages and the resulting billions of dollars in damage to homes and businesses. 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 ERCOT Verified account @ERCOT_ISO. Mr. Seely grew up in Irving, Texas, and received Bachelor of Arts degrees in Political Science and French from Texas Tech University in 1999. Jones was formerly a top executive at ERCOT before leaving to head up the grid operator in New 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. Trust with electricity companies, trust with lawmakers, and trust, most crucially, with regular Texans. 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 served as the president and CEO of the New York Independent System Operator from October 2015 to October 2018. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. 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. Notifications can be turned off anytime in the browser settings. She earned bachelors degrees in mathematics and physics from Berea College in Kentucky and attended graduate school at the University of Kentucky. Brad Jones will fill the role in an interim capacity in early May. Vice President, Corporate Strategy and PUC Relations. In addition, Mr. Seely is responsible for the leadership of the Compliance, Cyber Security, Physical Security, Facilities and Information Governance departments. Before joining AEP, Mr. Black served as Texas Governor Rick Perrys Press Secretary and Communications Director from 2003-2008, and also worked as a Senior Communications Advisor for Greg Abbott during his 2002 and 2014 campaigns, respectively. Elizabeth is an editor on the breaking news desk. P.O. 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. By Hannah Brol It crippled oil and gas production, and dozens of people died. MacKenzie Sigalos. 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. 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. He played a key role in the development of ERCOT energy and market systems, as well as risk management and strategic planning. Mr. gelman served as Chairman of the ERCOT Technical Advisory Committee from 2011 to 2013. Mr. Taylor has a BBA from the University of Michigan. Brad Jones, Ercots interim chief executive officer, is aware hes walking a fine line. There were a lot of channels, and we simply werent doing a good job, he said of the companys communications efforts during the freeze. AUSTIN, Texas Updated at 5:27 p.m. with a statement from the interim CEO. 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. Fort Worth Business Press You could change us.. Ms. Day joined ERCOT in 2000 and has more than 30 years of experience in the electric power industry. Prior to joining ERCOT, she was with Central Maine Power as part of a core team to implement market deregulation in Maine. Andrew Cuomo set out an ambitious goal to shift power generation in the state to 50% renewable by 2030. Jones was elected to serve until the position has been permanently filled, up to a term of one year, effective May 4, the Electric Reliability Council of Texas board said in an emailed statement. 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. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. 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. 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. If you'd like to sign up now, fill out the form below and we will add you as soon as we finish the transition. ERCOT ousted Bill Magness as CEO in March after a February winter storm caused widespread blackouts across Texas, a state unaccustomed to extreme cold, leaving residents without heat, power or water for days. 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. 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. We're in the process of transitioning services for our Today in Houston newsletter. 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.. 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. Find the full series here: Keeping the Lights On. ERCOTs previous chief executive was fired following the storm, and every commissioner serving on the Public Utility Commission resigned as well, Jones said. The Electric Reliability Council of Texas' board of directors on Tuesday appointed Brad Jones as interim president and CEO. She is a former opinion editor on the editorial board and energy reporter for the business section. "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. Dr. Tamby has more than 25 years of experience in the electric power industry, including about 15 years in leadership roles. Kenan gelman isERCOTs Vice President of Commercial Operations, overseeing Market Operations, Settlement and Retail Operations, and Market Design and Development. 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. At the Fort Worth Report, news decisions are made independently of our board members and financial supporters. Prior to joining ERCOT, Mr. Seely was an attorney at the Texas Department of Insurance, working on enforcement matters against insurance agents and companies before the State Office of Administrative Hearings (SOAH) and the Commissioner of Insurance. 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. 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. | Dominic Anthony Walsh covers education & families for Houston Public Media's enterprise team. 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. 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 is an Interim President & Chief Executive Officer at Ercot based in Taylor, Texas. He graduated from Boston University in 1987 with a BA in international relations. Your subscription will be migrated over. Betty Day was named Vice President of Security & Compliance and Chief Compliance Officer in 2019 after serving in various executive roles since 2011. Industry insiders will be pounding on his door, but he should seek counsel from consumers, city emergency officials, health professionals and environmental experts, too. Jayapal Parakkuth has over 25 years of experience in successfully visualizing, designing, and implementing software solutions to various aspects of power system grid control. Texas Governor Greg Abbott had called for board members and other leaders to step down in the wake of the crisis. Mr. Taylor has more than 20 years of finance experience in various roles. Other companies went bankrupt and continue to struggle because their power plants shut down because of the low temperatures, he added. Enough jargon, he said, we have to speak in very clear terms.. RELATED: Terminated ERCOT CEO says he won't seek or accept severance pay. 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. His previous experience within ERCOT includes serving as Chief of Staff and as Interim Chief Operating Officer. 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 also served as the Director of Governmental Affairs for the AEP companies in Texas. He didnt immediately respond to a LinkedIn message. Why would a CEO in his 50s retire? 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. 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. Updated Mr. Rickerson brings a considerable amount of electric industry experience to his position, including more than 19 years at ERCOT in various roles. 2005-2022 Community Impact Newspaper Co. All rights reserved. Vice President and Chief Information Officer. 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. Kristi Hobbs is ERCOTs Vice President of Corporate Strategy and PUC Relations. 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. 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. Jones will serve beginning May 4. 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. 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. WebAs of 2022, Brad Joness net worth is $100,000 - $1M. 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. That included more inspections and assurances from power companies that they were adequately preparing their facilities for winter weather. The so-called passport program will increase the reliability of renewable energy through battery storage, among other initiatives. 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. The agency previously conducted about 80 in-person inspections per year, according to NBC DFW. He currently resides in Lansing. At this point, Jones said there are three components to his trust plan. Peak demand for electricity during the freeze reached nearly 10 megawatts above what ERCOT forecast. 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. Mr. Rickerson is responsible for guiding new, in-depth generation inspections and coordinating enforcement actions with the Public Utility Commission. WebPublic Utility Commission of Texas 1701 N. Congress, P.O. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. Posted: Apr 27, 2021 / 02:41 PM CDT. A licensed professional engineer, Mr. Rickerson has worked for utilities in Texas, Arizona, and New Mexico. 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. Vice President and Chief Financial Officer. He has a long history of service in both the electric and gas industries. Senior Vice President and Chief Administrative Officer, Chief of Staff. The Texas legislature oversees all of the organizations, and its efforts to mandate weatherization have stalled. 4:45 PM Mar 11, 2021 CST 2023 Fortune Media IP Limited. 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