He is a licensed CPA in Texas and New York and a Chartered Financial Analyst Charterholder. He didnt immediately respond to a LinkedIn message. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. There were a lot of channels, and we simply werent doing a good job, he said of the companys communications efforts during the freeze. The agency is also focusing on improving its communications so that customers get a single message and not four or five messages that are conflicting from their energy provider and the state, he said. 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. 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. Jones was once Ercots chief operating officer, and is a Texan. She is also responsible for ERCOT Market Rule development and facilitating the ERCOT stakeholder process. He was active with the Texas Reliability Entity, Edison Electric Institute and the FutureGen Industrial Alliance. 4:45 PM Mar 11, 2021 CST RELATED: Death toll from Texas winter storms rises once more to 125 people, D-FW victims now total 12. 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.. 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. 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. See here for a complete list of exchanges and delays. 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. Jones will assist Adrianne Brandt, the agencys new director, in her new role. 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 All quotes delayed a minimum of 15 minutes. 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 Jones was in New York, Gov. You could change us.. 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. Enough jargon, he said, we have to speak in very clear terms.. 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. P.O. Only three facilities this year failed to meet ERCOTs expectations for winter preparations, Jones told the town hall audience. However, Magness has told Ercots board he wont seek or accept a severance, according to a statement. Ms. Spak graduated from Southwestern University with a BA in psychology. LinkedIn has officially entered its cringe era, and its working. Mr. Taylor has more than 20 years of finance experience in various roles. Instead, Jones said in an interview with The Dallas Morning News that he will start by rebuilding trust. Jones was formerly a top executive at ERCOT before leaving to head up the grid operator in New 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 his career in the regulated utility industry, Mr. Vegas served in senior leadership positions with IBM, PricewaterhouseCoopers, and Andersen Consulting. Get smart opinions on the topics North Texans care about. What I intend to do here at ERCOT is the very same thing, Jones said of his experience in New York. Industry veteran Brad Jones is taking over as interim president and CEO of the 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. 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. 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. 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. 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. ERCOT doesnt have the power to mandate major changes. The Chief Audit Executive who manages the Internal Audit department administratively reports to Mr. Seely. Jones did not address the litigation during the town hall. State Sen. Kelly Hancock and state Rep. Giovanni Capriglione also answered questions read by County Commissioner Gary Fickes. 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. So far, 125 deaths across the state have been attributed to the storm and power outage. There, he oversaw Commercial Operations and Grid Planning and Operations. 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. The plan will put ERCOT on a solid foundation for providing reliable electric service year-round," Jones said in part. Posted: Apr 27, 2021 / 02:41 PM CDT. Terms & Conditions. Tags electricity grid ercot Texas Legislature Texas power grid winter freeze. 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. Box 65, Fort Worth, TX 76101, natural gas production in Texas dropped significantly, recommendations from the Federal Energy Regulatory Commission. Mr. Taylor has a BBA from the University of Michigan. Esto es lo que necesita saber para esta semana. 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. Texans can be confident that the grid is more prepared than ever before, he added. TPR was founded by and is supported by our community. The commission is in the process of establishing new bylaws that could alleviate those issues, he added. Example video title will go here for this video. | 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. He didnt immediately respond to a LinkedIn message. FORTUNE may receive compensation for some links to products and services on this website. But some of the biggest threats to the grids stability are outside of ERCOTs control. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice| Do Not Sell/Share My Personal Information| Ad Choices 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. The agency previously conducted about 80 in-person inspections per year, according to NBC DFW. 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. He played a key role in the development of ERCOT energy and He is a former board member of March of Dimes, Gulf Coast Power Association, Atlas Scholars, and St. Peters Health Partners. On one hand, there have been six times in the past year that using RUCs have enabled the operator to avoid declaring grid emergencies. DETAILS BELOW. 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. Creating the original set of protocols that everyone could live with was surely good training for updating those protocols now. Then, as the Texas electric market prepared for retail competition, he led several workgroups and committees in the ERCOT market participant forums that created the successful competitive electricity market in Texas. During her tenure at ERCOT,she has served in various roles focused on developing relationships both internal and external to the organization. Mara Spak is Vice President of Human Resources at ERCOT. Houston Public Media is supported with your gifts to the Houston Public Media Foundation and is licensed to the University of Houston. 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 If Ercot cannot come up with financing to cover the underpayments, the debt could end up being shared by everyone in the Texas market, including consumers. There will be times that we need to speak frankly at ERCOT about what needs to occur to preserve reliability.. 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. April 27, 2021 Updated: April 27, 2021 6:24 p.m. The board gave Bill Magness a 60-day termination notice at the beginning of March. The unprecedented outages caused as much as $129 billion in economic losses. 2023 Fortune Media IP Limited. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. Send a letter to the editor and you just might get published. 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?. Jones' appointment is effective May 4, and will last until the position is filled, up to a year, according to ERCOT. Mr. Black also served as the Director of Governmental Affairs for the AEP companies in Texas. Third is better dialogue on needed technical changes in the power market and ERCOT. This caused some friction with the governors office, and Jones soon returned to Texas. Vice President, Security & Compliance and Chief Compliance Officer. 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. 2005-2022 Community Impact Newspaper Co. All rights reserved. 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. The board of directors gave CEO Bill Magness a 60-day termination notice in early March, weeks after the deadly storm. Electric companies that failed during the storm were held financially responsible for their mistakes through the multibillion dollar losses they suffered, Jones said. ERCOT Verified account @ERCOT_ISO. He has over 35 years of experience in the electric energy industry. 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. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. A licensed professional engineer, Mr. Rickerson has worked for utilities in Texas, Arizona, and New Mexico. 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 in October 2015, Mr. gelman served as the Director of Energy Market Policy for CPS Energy. 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. 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. Mr. Black leads the organizations external communications, government affairs, and customer support and oversees communications with Texans, state agencies, and lawmakers. 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.. The Texas Public Utility Commission chair followed suit March 1. Prior to joining ERCOT, she worked in hi-tech and healthcare industries. 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. 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. Jayapal Parakkuth has over 25 years of experience in successfully visualizing, designing, and implementing software solutions to various aspects of power system grid control. 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. Mr. Taylor is a veteran of the U.S. Army, where he served as a forward observer. 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. For example, power plants were weatherized this winter, but for the ice storm of 2011, he said. 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. WebHis previous experience within ERCOT includes serving as Chief of Staff and as Interim Chief Operating Officer. In an effort to rebuild trust following the near-collapse of Texas power grid during last Februarys winter storm, Jones has traveled across the state to hold listening sessions everywhere from Odessa to Frisco. Updated They didnt meet the needs of either their customers or the state of Texas, and they faced penalties associated with that, financial penalties, Jones said. Ms. Spak has more than 15 years of extensive experience in human resources at diverse corporate entities. It was championed by Magness, who is leaving just as the first stages are rolled out. Ms. Day joined ERCOT in 2000 and has more than 30 years of experience in the electric power industry. 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. Senior Vice President, General Counsel and Corporate Secretary. It crippled oil and gas production, and dozens of people died. Resources like these are made possible by the generosity of our community of donors, foundations, and corporate partners. Other companies went bankrupt and continue to struggle because their power plants shut down because of the low temperatures, he added. 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. Second, he plans to improve communication. 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. During the committee hearings held by state legislators last spring, Hancock said he was disturbed by the clear conflicts of interest on the Public Utility Commission, which regulates telecommunications, water and electric utilities across Texas. She is a former opinion editor on the editorial board and energy reporter for the business section. 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.". Jones will serve beginning May 4. He said ERCOT and Brad Jones have roles to play as messengers, but that they alone cannot prevent another power failure. The interim CEO of the Electric Reliability Council of Texas (ERCOT) has publicly revealed hes pro-Bitcoin. Notifications can be turned off anytime in the browser settings. Previously, she spent nine years with East Kentucky Power Cooperative in the areas of load forecasting, load research, and market research. On Tuesday night, Jones tuned in virtually for a town hall with voters and Republican officials based in Tarrant County. Our Standards: The Thomson Reuters Trust Principles. He was an early favorite to replace the embattled CEO and president, Bill Magness, who served in the position for half a decade. 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. She earned bachelors degrees in mathematics and physics from Berea College in Kentucky and attended graduate school at the University of Kentucky. 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. MacKenzie Sigalos. If past experience is any indication of future performance, he will. "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. The Electric Reliability Council of Texas hired an old hand as its interim chief executive. He acknowledged that the matter of $3 billion in unpaid bills for power market trades will need to be settled. 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. 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