brad jones ercot net worth
March 11, 2021 / 3:16 PM / CBS DFW. WebPublic Utility Commission of Texas 1701 N. Congress, P.O. 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. Senior Vice President and Chief Administrative Officer, Chief of Staff. 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. Elizabeth Souder. FORTUNE may receive compensation for some links to products and services on this website. 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. August 8, 2022 Executive Employment Agreement. 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. He didnt immediately respond to a LinkedIn message. 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. 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 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. 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.. I expect for that plan to be very specific and very aggressive, he said. This article was originally published byFort Worth Report. 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. 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?. Mr. gelman served as Chairman of the ERCOT Technical Advisory Committee from 2011 to 2013. Mr. Black leads the organizations external communications, government affairs, and customer support and oversees communications with Texans, state agencies, and lawmakers. That means Texas had no way of bringing in more electricity when the states power generators couldnt produce enough power to meet demand last February. Subchapter M Default Balance Securitization, Subchapter N Uplift Balance Securitization, Proposed Brazos and ERCOT Bankruptcy Settlement, Independent Market Information System Registered Entity, Transmission/Distribution Service Providers, Access registration forms and other documents >, Market Coordination Team for Texas SET Version Releases, Texas Data Transport and MarkeTrak Systems Working Group, Texas Standard Electronic Transaction Working Group, Performance, Disturbance, Compliance Working Group, Planning Geomagnetic Disturbance Task Force, Protocol Interpretation Request Submission Process, Texas Standard Electronic Transaction Guides, Aggregate Distributed Energy Resource (ADER) Pilot Project, 30-Minute Emergency Response Service - Completed, Fast Responding Regulation Service - Completed, Weather-Sensitive Emergency Response Service - Completed, Other Binding Documents Revision Requests, Backcasted (Actual) Load Profiles - Historical, TDSP Distribution Loss Factors - Methodology, IDR Protocol Compliance Verification - Historical, Executive Employment Agreement between ERCOT and Pablo Vegas, Texas Tribune Request for Employment Contracts with ERCOT Interim CEO Brad Jones, Resource Integration & Ongoing Operations Resource Services. 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.. Brad Jones will fill the role in an interim capacity in early May. 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. However, Magness has told Ercots board he wont seek or accept a severance, according to a statement. He earned his bachelors degree in electrical engineering from the Victoria Jubilee Technical Institute, Bombay. Im not sure being connected to a bigger grid would actually have less chance of causing a problem, Capriglione said. Betty Day was named Vice President of Security & Compliance and Chief Compliance Officer in 2019 after serving in various executive roles since 2011. That represents money owed by wholesale buyers to power generators who sold electricity at the market cap rate during the freeze. It crippled oil and gas production, and dozens of people died. Ms. Day joined ERCOT in 2000 and has more than 30 years of experience in the electric power industry. The commission is in the process of establishing new bylaws that could alleviate those issues, he added. When industry insiders were creating the first protocols for the Texas grid operator, veteran energy executive Brad Jones was at the table. 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. 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. 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. 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. 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. Senior Vice President, General Counsel and Corporate Secretary. 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. Updated 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. Mr. Seely grew up in Irving, Texas, and received Bachelor of Arts degrees in Political Science and French from Texas Tech University in 1999. He spent years developing generation and working with regulators for TXU, and he spent years in top roles at ERCOT. Brad Jones (born April 1, 1986) is famous for being football player. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. Brad Jones, ERCOT's interim CEO, in a statement said he "welcomes these highly qualified leaders, their expertise and insights into our relentless pursuit of grid reliability." 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. 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. His exit comes days after the head of the states utility regulator stepped down after receiving withering criticism by state lawmakers during hearings last week. "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. Her position is supported by a grant fromthe Marilyn Brachman Hoffman Foundation. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. She is a former opinion editor on the editorial board and energy reporter for the business section. 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. DETAILS BELOW. 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. Prior to joining ERCOT, he served as Vice President of External Affairs for AEP Texas. Brad Jones will fill the role in an interim capacity in early May. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. There were a lot of channels, and we simply werent doing a good job, he said of the companys communications efforts during the freeze. 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. 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. His previous experience within ERCOT includes serving as Chief of Staff and as Interim Chief Operating Officer. 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. Brad Jones, interim CEO of ERCOT, explains how the power grid partners with crypto mining facilities within Texas to manage energy demand. 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. They took until November to send us a list of recommendations for how to deal with the cold weather from Uri, Jones said. But some of the biggest threats to the grids stability are outside of ERCOTs control. We manage the flow of electric power to more than 26 million Texas customers -- representing 90 percent of the state's **Please note** If you are already signed up for the newsletter, you do not need to sign up again. Vice President, Corporate Strategy and PUC Relations. He comes to the Bayou City after Let the Houston Public Media newsroom help you start your day. After so many angry Texans became armchair electricity experts on social media during the February freeze, this state could use some tethering to reality. 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. The Chief Audit Executive who manages the Internal Audit department administratively reports to Mr. Seely. 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. At this point, Jones said there are three components to his trust plan. ERCOT Verified account @ERCOT_ISO. 1996-2023 Electric Reliability Council of Texas, Inc. All rights reserved. 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. Your subscription will be migrated over. Too bad for New York, because a grid executive who can tether political ambitions to physical reality is an asset. 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. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. The effect of being connected to another power grid would have been negligible during the storm, Jones said, because power supplies from the far east would have been consumed by states around Texas also experiencing electricity issues before it reached Texans. Prior to joining ERCOT in October 2015, Mr. gelman served as the Director of Energy Market Policy for CPS Energy. 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. See here for a complete list of exchanges and delays. Terms & Conditions. The scene in North Austin on Feb. 16, 2021, following the devastating winter storm. Subchapter M Default Balance Securitization, Subchapter N Uplift Balance Securitization, Proposed Brazos and ERCOT Bankruptcy Settlement, Independent Market Information System Registered Entity, Transmission/Distribution Service Providers, Access registration forms and other documents >, Market Coordination Team for Texas SET Version Releases, Texas Data Transport and MarkeTrak Systems Working Group, Texas Standard Electronic Transaction Working Group, Performance, Disturbance, Compliance Working Group, Planning Geomagnetic Disturbance Task Force, Protocol Interpretation Request Submission Process, Texas Standard Electronic Transaction Guides, Aggregate Distributed Energy Resource (ADER) Pilot Project, 30-Minute Emergency Response Service - Completed, Fast Responding Regulation Service - Completed, Weather-Sensitive Emergency Response Service - Completed, Other Binding Documents Revision Requests, Backcasted (Actual) Load Profiles - Historical, TDSP Distribution Loss Factors - Methodology, IDR Protocol Compliance Verification - Historical, Resource Integration & Ongoing Operations Resource Services. And theres another point on Jones rsum that should give Texans confidence in him. P.O. He graduated from South Texas College of Law in 2002 and earned awards in South Texas esteemed advocacy program. 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.. Jones, who worked for Texas energy companies and in senior roles at ERCOT before leading New York states power grid operator as president, takes On one hand, there have been six times in the past year that using RUCs have enabled the operator to avoid declaring grid emergencies. A licensed professional engineer, Mr. Rickerson has worked for utilities in Texas, Arizona, and New Mexico. This years storm was far worse, and ERCOT needs to look at weatherization planning. Second, he plans to improve communication. Notifications can be turned off anytime in the browser settings. (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.). If past experience is any indication of future performance, he will. Elizabeth is an editor on the breaking news desk. 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. 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. At least 111 Texans died as a result of the disaster, according to numbers released in March by the Department of State Health Services. Their inspectors found 10 potential deficiencies at power plants and six at electric transmission facilities, most of which were resolved. Andrew Cuomo set out an ambitious goal to shift power generation in the state to 50% renewable by 2030. 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.. Jones has been to many rodeos. According to his LinkedIn page, he left for retirement after three years. 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. He was active with the Texas Reliability Entity, Edison Electric Institute and the FutureGen Industrial Alliance. 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 senior vice president and chief operating officer. RELATED: Terminated ERCOT CEO says he won't seek or accept severance pay. 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