Her position is supported by a grant fromthe Marilyn Brachman Hoffman Foundation. Mr. Rickerson brings a considerable amount of electric industry experience to his position, including more than 19 years at ERCOT in various roles. Got an opinion about this issue? 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. Contact herby emailor viaTwitter. 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. AUSTIN (CBSDFW.COM) - The Public Utility Commission of Texas today named Adrianne Brandt the agency's new Director of ERCOT, Inc. Mr. Black holds a bachelors degree from the University of Texas at San Antonio. MacKenzie Sigalos. Industry veteran Brad Jones is taking over as interim president and CEO of the Previously, she spent nine years with East Kentucky Power Cooperative in the areas of load forecasting, load research, and market research. Jones has also Jones, who worked for Texas energy companies and in senior roles at ERCOT before leading New York states power grid operator as president, takes According to the release, Brandt will be assisted by fellow Texan Brad Jones, who previously served as chief operations officer of ERCOT. 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. 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. Fri, Mar 18 2022 6:26 PM EDT. Mr. Black began his career in 1990 as a legislative assistant for Representative Tom Craddick in the Texas House of Representatives and later worked for two Texas State Senators. Elizabeth Souder is commentary and Sunday Opinion editor and a member of the editorial board. He has lived in Austin since 2002 and is happily married with two daughters. He didnt immediately respond to a LinkedIn message. We're in the process of transitioning services for our Today in Houston newsletter. ERCOT doesnt have the power to mandate major changes. Get smart opinions on the topics North Texans care about. 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. At least 111 Texans died as a result of the disaster, according to numbers released in March by the Department of State Health Services. His previous experience within ERCOT includes serving as Chief of Staff and as Interim Chief Operating Officer. They took until November to send us a list of recommendations for how to deal with the cold weather from Uri, Jones said. Mr. Taylor is a veteran of the U.S. Army, where he served as a forward observer. The board gave Bill Magness a 60-day termination notice at the beginning of March. 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. He played a key role in the development of ERCOT energy and Fort Worth Business Press 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. 2023 Fortune Media IP Limited. Powered and implemented by Interactive Data Managed Solutions. ERCOTs previous chief executive was fired following the storm, and every commissioner serving on the Public Utility Commission resigned as well, Jones said. I commend the ERCOT Board for confirming a leader of Brads caliber as interim CEO, said PUC Chairman Peter Lake in a release statement. Jayapal Parakkuth has over 25 years of experience in successfully visualizing, designing, and implementing software solutions to various aspects of power system grid control. ERCOT Verified account @ERCOT_ISO. 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. 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. Ms. Day joined ERCOT in 2000 and has more than 30 years of experience in the electric power industry. Creating the original set of protocols that everyone could live with was surely good training for updating those protocols now. He acknowledged that the matter of $3 billion in unpaid bills for power market trades will need to be settled. Last summer, ERCOT released a 60-item list of reforms the agency was undertaking to improve its broken trust with Texans. Board members voted 6-1, with two abstaining, in favor of serving Magness with his notice. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. Better known as ERCOT, the nonprofit organization is responsible for managing the states electricity grid under the supervision of the Public Utility Commission, whose commissioners are appointed by Gov. See here for a complete list of exchanges and delays. 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. Jones was formerly a top executive at ERCOT before leaving to head up the grid operator in New York. Her current responsibilities include Security (Cyber and Physical), Compliance, and Facilities. Prior to joining ERCOT, he served as Vice President of External Affairs for AEP Texas. Trust with electricity companies, trust with lawmakers, and trust, most crucially, with regular Texans. Send a letter to the editor and you just might get published. Elizabeth is an editor on the breaking news desk. 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. He spent years developing generation and working with regulators for TXU, and he spent years in top roles at ERCOT. Other companies went bankrupt and continue to struggle because their power plants shut down because of the low temperatures, he added. 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. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. 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. 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.. RELATED: Death toll from Texas winter storms rises once more to 125 people, D-FW victims now total 12. 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. She has over 20 years of experience in the electric industry. 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. Senior Vice President and Chief Administrative Officer, Chief of Staff. 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. 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. LinkedIn has officially entered its cringe era, and its working. Dr. Tamby has more than 25 years of experience in the electric power industry, including about 15 years in leadership roles. The Electric Reliability Council of Texas Board of Directors has selected Brad Jones to serve as interim president and CEO for the organization that manages the Texas power grid. In a press release, ERCOT said Jones will serve in the position for up to a year while the board searches for a permanent replacement. 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. Texans can be confident that the grid is more prepared than ever before, he added. In a post-storm legislative hearing, Magness responded to one lawmaker who asked, How can we do better? by saying, Yall made us. 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. The development of those rules was really done by a broad group of diverse participants in the marketplace, including consumers, Jones said. 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. Industry insiders will be pounding on his door, but he should seek counsel from consumers, city emergency officials, health professionals and environmental experts, too. 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. Haley Samsel is the environmental reporter for the Fort Worth Report. 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. All of those members lived out of state, records show. Senior Vice President, General Counsel and Corporate Secretary. Jones was formerly a top executive at ERCOT before leaving to head up the grid operator in New York. Kristi Hobbs is ERCOTs Vice President of Corporate Strategy and PUC Relations. The Chief Audit Executive who manages the Internal Audit department administratively reports to Mr. Seely. 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. 05:24. Before his career in the regulated utility industry, Mr. Vegas served in senior leadership positions with IBM, PricewaterhouseCoopers, and Andersen Consulting. Pablo Vegas joined ERCOT in October 2022 as President and CEO. 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. Esto es lo que necesita saber para esta semana. Enough jargon, he said, we have to speak in very clear terms.. Read more about our editorial independence policyhere. Unfortunately, he said, ERCOTs push for affordability over reliability finally caught up to it in February 2021. 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. Peak demand for electricity during the freeze reached nearly 10 megawatts above what ERCOT forecast. read more. All rights reserved. It crippled oil and gas production, and dozens of people died. State Sen. Kelly Hancock and state Rep. Giovanni Capriglione also answered questions read by County Commissioner Gary Fickes. Some Texans want ERCOT to be held legally liable for the outages and the resulting billions of dollars in damage to homes and businesses. Dan Woodfin is ERCOTs Vice President of System Operations. ERCOT and the Public Utility Commission of Texas, the regulator which oversees the grid operator, raised power prices to about 400 times the normal rate over five days. At this point, Jones said there are three components to his trust plan. 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. Dominic Anthony Walsh covers education & families for Houston Public Media's enterprise team. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. 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. 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. Jones' appointment is effective May 4, and will last until the position is filled, up to a year, according to ERCOT. 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.. 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. 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. 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. The ERCOT board of directors selected its interim president and CEO Tuesday after the 60-day period following the firing of Bill Magness in March in the wake of February's winter storm. 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. That represents money owed by wholesale buyers to power generators who sold electricity at the market cap rate during the freeze. AUSTIN, Texas Updated at 5:27 p.m. with a statement from the interim CEO. 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. Brad Jones will fill the role in an interim capacity in early May. WebAs of 2022, Brad Joness net worth is $100,000 - $1M. The commission is in the process of establishing new bylaws that could alleviate those issues, he added. The Electric Reliability Council of Texas' board of directors on Tuesday appointed Brad Jones as interim president and CEO. It was championed by Magness, who is leaving just as the first stages are rolled out. The unprecedented outages caused as much as $129 billion in economic losses. By Hannah Brol Updated Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. 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. Ercots chair and four other directors resigned Feb. 23, while two other board members resigned in the following days. 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. In addition, Mr. Seely is responsible for the leadership of the Compliance, Cyber Security, Physical Security, Facilities and Information Governance departments. 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