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. 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. 1996-2023 Electric Reliability Council of Texas, Inc. All rights reserved. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. Fort Worth Business Press 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. Brad Jones will fill the role in an interim capacity in early May. 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. Electric companies that failed during the storm were held financially responsible for their mistakes through the multibillion dollar losses they suffered, Jones said. 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. 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. Read more about our editorial independence policyhere. When industry insiders were creating the first protocols for the Texas grid operator, veteran energy executive Brad Jones was at the table. The Electric Reliability Council of Texas' board of directors on Tuesday appointed Brad Jones as interim president and CEO. Texans can be confident that the grid is more prepared than ever before, he added. Get highlights, trending news, and behind-the-scenes insights from Houston Public Media delivered to your inbox each week. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. The board gave Bill Magness a 60-day termination notice at the beginning of March. There is no recent news or activity for this profile. 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. 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. Brad Jones, interim CEO of ERCOT, explains how the power grid partners with crypto mining facilities within Texas to manage energy demand. 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. However, Magness has told Ercots board he wont seek or accept a severance, according to a statement. read more. Industry insiders will be pounding on his door, but he should seek counsel from consumers, city emergency officials, health professionals and environmental experts, too. In a post-storm legislative hearing, Magness responded to one lawmaker who asked, How can we do better? by saying, Yall made us. At the Fort Worth Report, news decisions are made independently of our board members and financial supporters. RELATED: Terminated ERCOT CEO says he won't seek or accept severance pay. Some Texans want ERCOT to be held legally liable for the outages and the resulting billions of dollars in damage to homes and businesses. 05:24. 2023 Fortune Media IP Limited. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. See here for a complete list of exchanges and delays. She is also responsible for ERCOT Market Rule development and facilitating the ERCOT stakeholder process. Prior to joining ERCOT, she worked in hi-tech and healthcare industries. 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. This years storm was far worse, and ERCOT needs to look at weatherization planning. 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. That included more inspections and assurances from power companies that they were adequately preparing their facilities for winter weather. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. 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. 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. 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. The commission is in the process of establishing new bylaws that could alleviate those issues, he added. His previous experience within ERCOT includes serving as Chief of Staff and as Interim Chief Operating Officer. Brad Jones of Liberty Hill is the Interim CEO of ERCOT. During a cold spell earlier this month, natural gas production in Texas dropped significantly, but ERCOT did not report any significant power outages. Additionally, he spent time in Washington, DC working in the Majority Leaders office and the Committee on Ways and Means. 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. The plan will put ERCOT on a solid foundation for providing reliable electric service year-round," Jones said in part. 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 is a former board member of March of Dimes, Gulf Coast Power Association, Atlas Scholars, and St. Peters Health Partners. Jones, who worked for Texas energy companies and in senior roles at ERCOT before leading New York states power grid operator as president, takes State Sen. Kelly Hancock and state Rep. Giovanni Capriglione also answered questions read by County Commissioner Gary Fickes. Before joining ERCOT, Mr. Taylor spent seven years in the finance department at the Lower Colorado River Authority. 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. Prior to joining ERCOT, she was with Central Maine Power as part of a core team to implement market deregulation in Maine. Vice President and Chief Information Officer. 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 was formerly a top executive at ERCOT before leaving to head up the grid operator in New York. 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. Jones comes on board at a time of intense scrutiny for the grid operator, following the February winter storm and power outages that affected the entire state. Instead, Jones said in an interview with The Dallas Morning News that he will start by rebuilding trust. According to his LinkedIn page, he left for retirement after three years. 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. Categories 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. Houston Public Media is supported with your gifts to the Houston Public Media Foundation and is licensed to the University of Houston. Resources like these are made possible by the generosity of our community of donors, foundations, and corporate partners. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. (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.). 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.. 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. Magness is leaving as ERCOT faces a $2.5 Jones should listen to a range of voices on improving reliability. He earned his bachelors degree in electrical engineering from the Victoria Jubilee Technical Institute, Bombay. Board members voted 6-1, with two abstaining, in favor of serving Magness with his notice. Brad Jones Summary Overview CB Rank (Person) 23,869 Primary Job Title Senior Vice President and Chief Operations Officer Primary Organization ERCOT Gender He has over 35 years of experience in the electric energy industry. 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). He played a key role in the development of ERCOT energy and 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. Brad Jones will fill the role in an interim capacity in early May. 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. 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. Mr. Seely has been with ERCOT since May 2005. Mr. Taylor has a BBA from the University of Michigan. Terms & Conditions. 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. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. I expect for that plan to be very specific and very aggressive, he said. Brad Jones (born April 1, 1986) is famous for being football player. 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. 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. Prior to joining ERCOT, he served as Vice President of External Affairs for AEP 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. Mr. Seely oversees state and federal policy and manages the overall litigation strategy of ERCOT. 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. Before his career in the regulated utility industry, Mr. Vegas served in senior leadership positions with IBM, PricewaterhouseCoopers, and Andersen Consulting. 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. The unprecedented outages caused as much as $129 billion in economic losses. August 8, 2022 Executive Employment Agreement. Im not sure being connected to a bigger grid would actually have less chance of causing a problem, Capriglione said. Box 65, Fort Worth, TX 76101, natural gas production in Texas dropped significantly, recommendations from the Federal Energy Regulatory Commission. Ms. Day joined ERCOT in 2000 and has more than 30 years of experience in the electric power industry. 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. Kristi Hobbs is ERCOTs Vice President of Corporate Strategy and PUC Relations. 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. | He also served as the president and CEO of the New York Independent System Operator from October 2015 to October 2018. 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. Box 13326, Austin, TX 78711-3326 Fax 512-936-7003 News Release Contact: Andrew Barlow March 11, 2021 media@puc.texas.gov He played a key role in the development of ERCOT energy and market systems, as well as risk management and strategic planning. 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. Jones was formerly a top executive at ERCOT before leaving to head up the grid operator in New 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. 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 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. For example, power plants were weatherized this winter, but for the ice storm of 2011, he said. You could change us.. Last summer, ERCOT released a 60-item list of reforms the agency was undertaking to improve its broken trust with Texans. Jeyant Tamby serves as ERCOTs Chief Administrative Officer and Chief of Staff. Andrew Cuomo set out an ambitious goal to shift power generation in the state to 50% renewable by 2030. A licensed professional engineer, Mr. Rickerson has worked for utilities in Texas, Arizona, and New Mexico. He earned both a BS in electrical engineering and an MBA from Texas A&M University. 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. At least 111 Texans died as a result of the disaster, according to numbers released in March by the Department of State Health Services. Mrs. Hobbs graduated from Texas A&M University in 1998 with a BS in agribusiness and earned an MSc in agricultural economics from Texas A&M University in 2000. The industry leader for online information for tax, accounting and finance professionals. 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. Send a letter to the editor and you just might get published. After so many angry Texans became armchair electricity experts on social media during the February freeze, this state could use some tethering to reality. 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 AUSTIN, Texas Updated at 5:27 p.m. with a statement from the interim CEO. Vice President and Chief Financial Officer. Once a saver, always a saver: Warren Buffett says generational wealth isnt what it used to be in his annual letter Its bigger than the housing crisis: An influential economist just blamed NIMBYs for American decline, and Elon Musk CA Notice at Collection and Privacy Notice, Do Not Sell/Share My Personal Information. Jones defended the design of Texas electricity market and power grid. 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. He currently resides in Lansing. This caused some friction with the governors office, and Jones soon returned to Texas. Mr. Black also served as the Director of Governmental Affairs for the AEP companies in Texas. April 27 (Reuters) - The board of ERCOT said on Tuesday that Brad Jones has been elected to serve as interim president and chief executive officer for the Texas 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. 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. Jones was once Ercots chief operating officer, and is a Texan. Join others and make your gift to Houston Public Media today. 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. Third is better dialogue on needed technical changes in the power market and ERCOT. Betty Day was named Vice President of Security & Compliance and Chief Compliance Officer in 2019 after serving in various executive roles since 2011. There, he oversaw Commercial Operations and Grid Planning and Operations. Ercots chair and four other directors resigned Feb. 23, while two other board members resigned in the following days. 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. Mr. Taylor has more than 20 years of finance experience in various roles. Dominic Anthony Walsh can be reached at Dominic@TPR.org and on Twitter at @_DominicAnthony, Texas Public Radio | Jones has been to many rodeos. 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. 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 joining NiSource, Mr. Vegas held a variety of senior executive positions with American Electric Power (AEP), including President and Chief Operating Officer of AEP Ohio, President and Chief Operating Officer of AEP Texas, and Vice President and Chief Information Officer of AEP. Elizabeth Souder is commentary and Sunday Opinion editor and a member of the editorial board. He brings the right combination of ERCOT knowledge and broad industry expertise needed to provide the stability and reliability that Texans expect and deserve.. This article was originally published byFort Worth Report. 4:45 PM Mar 11, 2021 CST On Tuesday night, Jones tuned in virtually for a town hall with voters and Republican officials based in Tarrant County. read more. WebAs of 2022, Brad Joness net worth is $100,000 - $1M. And theres another point on Jones rsum that should give Texans confidence in him. 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. 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. The Electric Reliability Council of Texas Board of Directors has selected Brad Jones to serve as interim president and CEO. LinkedIn has officially entered its cringe era, and its working. 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. 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