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. When industry insiders were creating the first protocols for the Texas grid operator, veteran energy executive Brad Jones was at the table. Peak demand for electricity during the freeze reached nearly 10 megawatts above what ERCOT forecast. Brad Jones, Ercots interim chief executive officer, is aware hes walking a fine line. Dominic Anthony Walsh can be reached at Dominic@TPR.org and on Twitter at @_DominicAnthony, Texas Public Radio | Second, he plans to improve communication. 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. Andrew Cuomo set out an ambitious goal to shift power generation in the state to 50% renewable by 2030. He played a key role in the development of ERCOT energy and market systems, as well as risk management and strategic planning. **Please note** If you are already signed up for the newsletter, you do not need to sign up again. On one hand, there have been six times in the past year that using RUCs have enabled the operator to avoid declaring grid emergencies. Elizabeth is an editor on the breaking news desk. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. They took until November to send us a list of recommendations for how to deal with the cold weather from Uri, Jones said. Jones was formerly a top executive at ERCOT before leaving to head up the grid operator in New Her position is supported by a grant fromthe Marilyn Brachman Hoffman Foundation. 2023 Fortune Media IP Limited. 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. There were a lot of channels, and we simply werent doing a good job, he said of the companys communications efforts during the freeze. 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. 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. 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. Before joining ERCOT, Mr. Taylor spent seven years in the finance department at the Lower Colorado River Authority. 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. WebIf the problem persists, contact the ERCOT Service Desk at ServiceDesk@ercot.com or 1-866-870-8124. P.O. She is also responsible for ERCOT Market Rule development and facilitating the ERCOT stakeholder process. There is no recent news or activity for this profile. Jones' appointment is effective May 4, and will last until the position is filled, up to a year, according to ERCOT. Powered and implemented by Interactive Data Managed Solutions. He played a key role in the development of ERCOT energy and 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. 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 Elizabeth Souder. And that should give Texans hope that they wont have to spend the summer digging survival bunkers and stocking up on batteries and trail mix. 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.. Pablo Vegas joined ERCOT in October 2022 as President and CEO. Jones, who worked for Texas energy companies and in senior roles at ERCOT before leading New York states power grid operator as president, takes Jones has also previously served as president and CEO of the New York Independent System Operator from October 2015 to October 2018. Ms. Spak has more than 15 years of extensive experience in human resources at diverse corporate entities. He is a licensed CPA in Texas and New York and a Chartered Financial Analyst Charterholder. 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. ERCOT Verified account @ERCOT_ISO. If past experience is any indication of future performance, he will. Senior Vice President and Chief Administrative Officer, Chief of Staff. AUSTIN, Texas Updated at 5:27 p.m. with a statement from the interim CEO. 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. 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. Texans can be confident that the grid is more prepared than ever before, he added. 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. 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 board gave Bill Magness a 60-day termination notice at the beginning of March. 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. 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. Mr. Black holds a bachelors degree from the University of Texas at San Antonio. 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 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. read more. 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. Creating the original set of protocols that everyone could live with was surely good training for updating those protocols now. We're in the process of transitioning services for our Today in Houston newsletter. He wasnt ready to say if he is leaning to one idea or another. At the Fort Worth Report, news decisions are made independently of our board members and financial supporters. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. He earned his bachelors degree in electrical engineering from the Victoria Jubilee Technical Institute, Bombay. 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. Haley Samsel is the environmental reporter for the Fort Worth Report. The generators did a fantastic job of getting ready for this, and were seeing that today, Jones said. But some of the biggest threats to the grids stability are outside of ERCOTs control. Contact herby emailor viaTwitter. At this point, Jones said there are three components to his trust plan. Elizabeth Souder is commentary and Sunday Opinion editor and a member of the editorial board. Too bad for New York, because a grid executive who can tether political ambitions to physical reality is an asset. Read more about our editorial independence policyhere. 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. 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. Categories 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. 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. ERCOT announced that four of its board members resigned Wednesday, Feb. 24 following its board meeting, and a fifth board member separately submitted her resignation. 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. ERCOTs previous chief executive was fired following the storm, and every commissioner serving on the Public Utility Commission resigned as well, Jones said. 4:45 PM Mar 11, 2021 CST He didnt immediately respond to a LinkedIn message. 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. According to the release, Brandt will be assisted by fellow Texan Brad Jones, who previously served as chief operations officer of ERCOT. We manage the flow of electric power to more than 26 million Texas customers -- representing 90 percent of the state's Ercots chair and four other directors resigned Feb. 23, while two other board members resigned in the following days. For example, power plants were weatherized this winter, but for the ice storm of 2011, he said. 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." "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. See here for a complete list of exchanges and delays. Brad Jones will fill the role in an interim capacity in early May. 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. 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. 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. Mr. Seely grew up in Irving, Texas, and received Bachelor of Arts degrees in Political Science and French from Texas Tech University in 1999. 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. 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. And theres another point on Jones rsum that should give Texans confidence in him. 1996-2023 Electric Reliability Council of Texas, Inc. All rights reserved. Jones has also 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. Posted: Apr 27, 2021 / 02:41 PM CDT. ERCOT is a council of experts and executives from across the energy spectrum, including power generators, electricity retailers, natural gas pipeline operators, big, corporate consumers, and academics. Only three facilities this year failed to meet ERCOTs expectations for winter preparations, Jones told the town hall audience. Mr. Black also served as the Director of Governmental Affairs for the AEP companies in Texas. Send a letter to the editor and you just might get published. Tags electricity grid ercot Texas Legislature Texas power grid winter freeze. It should give you great confidence that were managing this grid in a much more reliable way.. 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brad jones ercot net worth