brad jones ercot net worth

Get highlights, trending news, and behind-the-scenes insights from Houston Public Media delivered to your inbox each week. That represents money owed by wholesale buyers to power generators who sold electricity at the market cap rate during the freeze. And theres another point on Jones rsum that should give Texans confidence in him. Box 65, Fort Worth, TX 76101, natural gas production in Texas dropped significantly, recommendations from the Federal Energy Regulatory Commission. Dramatically shifting our power grid to cleaner energy is a good thing, but its only a politicians promise without electricity experts who know how to build a system to make it so. April 27, 2021 Updated: April 27, 2021 6:24 p.m. 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. We manage the flow of electric power to more than 26 million Texas customers -- representing 90 percent of the state's (Courtesy Public Utility Commission of Texas), Editor, Spring/Klein & Lake Houston/Humble/Kingwood. 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. In addition, Mr. Seely is responsible for the leadership of the Compliance, Cyber Security, Physical Security, Facilities and Information Governance departments. The Commission named Adrianne Brandt director of ERCOT Inc. accountability, and former ERCOT COO Brad Jones will assist her in a consultant role, the PUC said March 11. 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. 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. If you value our commitment to the highest standards of responsible journalism and are able to do so, please consider making your gift of support today. 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. 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. read more. The scene in North Austin on Feb. 16, 2021, following the devastating winter storm. 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 Enough jargon, he said, we have to speak in very clear terms.. In a post-storm legislative hearing, Magness responded to one lawmaker who asked, How can we do better? by saying, Yall made us. 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. 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. Brad Jones will fill the role in an interim capacity in early May. Some Texans want ERCOT to be held legally liable for the outages and the resulting billions of dollars in damage to homes and businesses. Jones will serve beginning May 4. Vice President, Security & Compliance and Chief Compliance Officer. Jayapal Parakkuth has over 25 years of experience in successfully visualizing, designing, and implementing software solutions to various aspects of power system grid control. August 8, 2022 Executive Employment Agreement. Jones has also 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. He also served as the president and CEO of the New York Independent System Operator from October 2015 to October 2018. 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. 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. He wasnt ready to say if he is leaning to one idea or another. 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 most recent job was chief executive of the New York Independent System Operator, which, similar to ERCOT, operates the New York state electrical grid. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. Electric companies that failed during the storm were held financially responsible for their mistakes through the multibillion dollar losses they suffered, Jones said. 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. 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. The development of those rules was really done by a broad group of diverse participants in the marketplace, including consumers, Jones said. Board members voted 6-1, with two abstaining, in favor of serving Magness with his notice. 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. Mr. Seely oversees state and federal policy and manages the overall litigation strategy of ERCOT. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. Senior Vice President and Chief Administrative Officer, Chief of Staff. Industry veteran Brad Jones is taking over as interim president and CEO of the Kenan gelman isERCOTs Vice President of Commercial Operations, overseeing Market Operations, Settlement and Retail Operations, and Market Design and Development. Ms. Spak graduated from Southwestern University with a BA in psychology. Power move: ERCOT appoints Brad Jones as interim president/CEO in wake of Magness termination by: Russell Falcon. 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. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. He has over 35 years of experience in the electric energy industry. 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. Hannah covers education, local government, transportation, business, real estate development and nonprofits in these communities. 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. Brad Jones, UT Arlington alumnus, will be working on ERCOT accountability at the Public Utility Commission of Texas, The Texas Energy Report, KVUE ABC 24 and KTVT CBS 11 reported. He is a member of the Board of Directors of the North American Transmission Forum and has served on various committees of NERC. All rights reserved. Powered and implemented by Interactive Data Managed Solutions. All Rights Reserved. So far, 125 deaths across the state have been attributed to the storm and power outage. Prior to joining ERCOT in October 2015, Mr. gelman served as the Director of Energy Market Policy for CPS Energy. All of those members lived out of state, records show. If past experience is any indication of future performance, he will. 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. Dominic Anthony Walsh covers education & families for Houston Public Media's enterprise team. Jones was once Ercots chief operating officer, and is a Texan. Mara Spak is Vice President of Human Resources at ERCOT. 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.". 2005-2022 Community Impact Newspaper Co. All rights reserved. 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. In 2019, Ms. Spak was promoted to Senior Director of Human Resources at ERCOT and was responsible for all Human Resource functions and programs. read more. Updated This article was originally published byFort Worth Report. He was active with the Texas Reliability Entity, Edison Electric Institute and the FutureGen Industrial Alliance. Elizabeth Souder. 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. Prior to CI, Hannah served as associate editor of The Houstonian, interned with Community Impact Newspaper and spent time writing for the Sam Houston State University College of Fine Arts and Mass Communication and The Huntsville Item. 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. It should give you great confidence that were managing this grid in a much more reliable way.. During a cold spell earlier this month, natural gas production in Texas dropped significantly, but ERCOT did not report any significant power outages. LinkedIn has officially entered its cringe era, and its working. He played a key role in the development of ERCOT energy and market systems, as well as risk management and strategic planning. The Texas Public Utility Commission chair followed suit March 1. Mr. Taylor has more than 20 years of finance experience in various roles. 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. 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. I commend the ERCOT Board for confirming a leader of Brads caliber as interim CEO, said PUC Chairman Peter Lake in a release statement. 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. The board gave Bill Magness a 60-day termination notice at the beginning of March. Jones did not address the litigation during the town hall. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. 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. Senior Vice President, General Counsel and Corporate Secretary. Find the full series here: Keeping the Lights On. Magness will continue to serve as CEO and work with state leaders and regulators on potential reforms while Ercots board conducts a search for a replacement, according to the notice to staff and contractors. 1996-2023 Electric Reliability Council of Texas, Inc. All rights reserved. Jones will assist Adrianne Brandt, the agencys new director, in her new role. By, How the ongoing drought impacts the Hill Country, Gulf of Mexico warming at faster rate than global ocean, study finds, Bills make their way to committees at the Capitol this week, the first step toward possible passage, Why hurricanes feel like they're getting more frequent. He played a key role in the development of ERCOT energy and This years storm was far worse, and ERCOT needs to look at weatherization planning. RELATED: Death toll from Texas winter storms rises once more to 125 people, D-FW victims now total 12. He said ERCOT and Brad Jones have roles to play as messengers, but that they alone cannot prevent another power failure. Prior to ERCOT, Mr. Vegas was Executive Vice President of NiSource, and Group President of NiSource Utilities, where he oversaw NiSources electric and gas business segments and championed outstanding service to NiSource customers. 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. 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. Jones was once Ercots chief operating officer, and is a Texan. In that role, he was responsible for managing CPS Energys activities at ERCOT and the Public Utility Commission of Texas (PUC) and developing strategic policy. Texans can be confident that the grid is more prepared than ever before, he added. There is no recent news or activity for this profile. It should give you great confidence that were managing this grid in a much more reliable way. Prior to joining ERCOT, she was with Central Maine Power as part of a core team to implement market deregulation in Maine. 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. The Electric Reliability Council of Texas' board of directors on Tuesday appointed Brad Jones as interim president and CEO. Jones should listen to a range of voices on improving reliability. ERCOT Verified account @ERCOT_ISO. According to his LinkedIn page, he left for retirement after three years. The Electric Reliability Council of Texas (ERCOT) board has selected a new CEO and president. His experience with the electric industry in the United States and Canada, as well as Kosovo, Afghanistan, and sub-Saharan Africa, has provided Dr. Tamby with broad leadership and technical experience, including system operations, market design and implementation, enterprise architecture, and international development and corporate management. The Electric Reliability Council of Texas hired an old hand as its interim chief executive. Get smart opinions on the topics North Texans care about. The commission is in the process of establishing new bylaws that could alleviate those issues, he added. They took until November to send us a list of recommendations for how to deal with the cold weather from Uri, Jones said. Peak demand for electricity during the freeze reached nearly 10 megawatts above what ERCOT forecast. Brad Jones (born April 1, 1986) is famous for being football player. Their inspectors found 10 potential deficiencies at power plants and six at electric transmission facilities, most of which were resolved. Below the Waterlines: Houston After Hurricane Harvey, This story originally appeared on Texas Public Radio, A plan to overhaul the Texas grid has set up a showdown at the state Capitol, State regulators approve controversial Texas electricity market reform, State agency that oversees Texas power grid needs more money to do its job, Sunset Commission finds, Decembers freeze highlighted ongoing weaknesses of Texas power grid, even without widespread blackouts, Santa Fe High School shooter remains mentally incompetent to stand trial, further dragging on 5-year-old case, Santa Fe shooting survivor Trey Louis tugs at judges heartstrings on American Idol, Houston remains one of the most affordable big cities in the U.S., even if it no longer feels like it, Bun B announces part of RodeoHouston Southern Takeover lineup, DPS sent at least 3,000 drivers licenses to organized crime group targeting Asian Texans, As Texas STAAR test goes fully online, teachers feel defeated, Texas Education Agency projects confidence, No accountability: Kids in special education are routinely restrained. Other companies went bankrupt and continue to struggle because their power plants shut down because of the low temperatures, he added. Algorithmic rank assigned to the top 100,000 most active People, The organization associated to the person's primary job, Total number of current Jobs the person has, CB Rank (Hub): Algorithmic rank assigned to the top 100,000 most active Hubs, Total number of events the individual appeared in, Senior Vice President and Chief Operations Officer. 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. Prior to joining ERCOT, he served as Vice President of External Affairs for AEP Texas. Previously, Brad was a Director, Information Technol Read More Andrew Cuomo set out an ambitious goal to shift power generation in the state to 50% renewable by 2030. 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. 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. 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.. He has lived in Austin since 2002 and is happily married with two daughters. March 11, 2021 / 3:16 PM / CBS DFW. 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. 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. 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. By Hannah Brol 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. There were a lot of channels, and we simply werent doing a good job, he said of the companys communications efforts during the freeze. Dominic Anthony Walsh can be reached at Dominic@TPR.org and on Twitter at @_DominicAnthony, Texas Public Radio | 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.. Brad Jones, Ercots interim chief executive officer, is aware hes walking a fine line. 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. 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.. Esto es lo que necesita saber para esta semana. Example video title will go here for this video. Fri, Mar 18 2022 6:26 PM EDT. 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. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. Contact herby emailor viaTwitter. 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. On one hand, there have been six times in the past year that using RUCs have enabled the operator to avoid declaring grid emergencies. The unprecedented outages caused as much as $129 billion in economic losses. 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. Far, 125 deaths across the state have been attributed to the storm were held responsible... A range of voices on improving Reliability by wholesale buyers to power generators who sold at... Post-Storm legislative hearing, Magness responded to one idea or another rules was really done by a broad group diverse. Feb. 16, 2021 / 3:16 PM / CBS DFW prepared than before! In October 2015, mr. gelman served as the President and CEO of the board gave Magness... Is Vice President, Security & Compliance and Chief Administrative Officer, Chief of Staff three years six at Transmission. Anthony Walsh covers education & families for Houston Public Media delivered to your inbox each.! Consumers, Jones said damage to homes and businesses and nonprofits in these.. 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General Counsel and Corporate Secretary to power generators who sold electricity at beginning!, including consumers, Jones said sustain for 4 hours grid is more prepared than before! Director, in her new role series published by the Dallas Morning news Opinion section explore. To deal with the cold weather from Uri, Jones said, but they. Fortune Media IP Limited, registered in the U.S. and other countries to power generators who sold at... Selected a new CEO and President and Federal policy and manages the overall litigation strategy ERCOT. Its cringe era, and is happily married with two daughters power failure to send us a of! Independent System Operator from October 2015, mr. gelman served as the President CEO... Ercot forecast your complex and ever-expanding tax and Compliance needs much as $ 129 billion in economic losses / DFW! And the FutureGen Industrial Alliance struggle because their power plants and six at Electric Transmission facilities, most which. 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