brad jones ercot net worth

All quotes delayed a minimum of 15 minutes. 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. Ms. Spak graduated from Southwestern University with a BA in psychology. Her position is supported by a grant fromthe Marilyn Brachman Hoffman Foundation. 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. 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. 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. Brad Jones (born April 1, 1986) is famous for being football player. So far, 125 deaths across the state have been attributed to the storm and power outage. Her current responsibilities include Security (Cyber and Physical), Compliance, and Facilities. 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. Magnessjoined Ercotin 2010, and hes led the grid operator since 2016. He comes to the Bayou City after Let the Houston Public Media newsroom help you start your day. The Electric Reliability Council of Texas (ERCOT) board has selected a new CEO and president. Contact herby emailor viaTwitter. Elizabeth Souder. Haley Samsel is the environmental reporter for the Fort Worth Report. Betty Day was named Vice President of Security & Compliance and Chief Compliance Officer in 2019 after serving in various executive roles since 2011. He was an early favorite to replace the embattled CEO and president, Bill Magness, who served in the position for half a decade. Third is better dialogue on needed technical changes in the power market and ERCOT. 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. Jones' appointment is effective May 4, and will last until the position is filled, up to a year, according to ERCOT. ERCOT doesnt have the power to mandate major changes. WebAs of 2022, Brad Joness net worth is $100,000 - $1M. After so many angry Texans became armchair electricity experts on social media during the February freeze, this state could use some tethering to reality. The Electric Reliability Council of Texas hired an old hand as its interim chief executive. | The agency previously conducted about 80 in-person inspections per year, according to NBC DFW. He didnt immediately respond to a LinkedIn message. Dominic Anthony Walsh covers education & families for Houston Public Media's enterprise team. 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. 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. 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. 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. WebHis previous experience within ERCOT includes serving as Chief of Staff and as Interim Chief Operating Officer. Previously, she spent nine years with East Kentucky Power Cooperative in the areas of load forecasting, load research, and market research. 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. Before his career in the regulated utility industry, Mr. Vegas served in senior leadership positions with IBM, PricewaterhouseCoopers, and Andersen Consulting. 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. ERCOTs previous chief executive was fired following the storm, and every commissioner serving on the Public Utility Commission resigned as well, Jones said. 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. Powered and implemented by Interactive Data Managed Solutions. He has lived in Austin since 2002 and is happily married with two daughters. Mr. Rickerson is responsible for guiding new, in-depth generation inspections and coordinating enforcement actions with the Public Utility Commission. 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.". The board gave Bill Magness a 60-day termination notice at the beginning of March. Peak demand for electricity during the freeze reached nearly 10 megawatts above what ERCOT forecast. 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. It should give you great confidence that were managing this grid in a much more reliable way.. 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. 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. In a post-storm legislative hearing, Magness responded to one lawmaker who asked, How can we do better? by saying, Yall made us. Vice President, Corporate Strategy and PUC Relations. While Jones was in New York, Gov. He was active with the Texas Reliability Entity, Edison Electric Institute and the FutureGen Industrial Alliance. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. 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. 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. The generators did a fantastic job of getting ready for this, and were seeing that today, Jones said. Earlier this month, ERCOT reported more than 300 inspections of power generating facilities, which take natural gas supply and other power sources and turn it into electricity for the grid. 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. 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. Get smart opinions on the topics North Texans care about. He has over 35 years of experience in the electric energy industry. 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 was formerly a top executive at ERCOT before leaving to head up the grid operator in New York. This caused some friction with the governors office, and Jones soon returned to Texas. Magness is leaving as ERCOT faces a $2.5 Brad Jones, interim CEO of ERCOT, explains how the power grid partners with crypto mining facilities within Texas to manage energy demand. 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. Power move: ERCOT appoints Brad Jones as interim president/CEO in wake of Magness termination by: Russell Falcon. 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. Last summer, ERCOT released a 60-item list of reforms the agency was undertaking to improve its broken trust with Texans. Join others and make your gift to Houston Public Media today. On one hand, there have been six times in the past year that using RUCs have enabled the operator to avoid declaring grid emergencies. She is also responsible for ERCOT Market Rule development and facilitating the ERCOT stakeholder process. Jones was once Ercots chief operating officer, and is a Texan. 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. It was championed by Magness, who is leaving just as the first stages are rolled out. "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. 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. 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. At this point, Jones said there are three components to his trust plan. 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. All rights reserved. ERCOT Verified account @ERCOT_ISO. Jones was once Ercots chief operating officer, and is a Texan. Send a letter to the editor and you just might get published. Hannah covers education, local government, transportation, business, real estate development and nonprofits in these communities. If past experience is any indication of future performance, he will. At the Fort Worth Report, news decisions are made independently of our board members and financial supporters. He is a member of the Board of Directors of the North American Transmission Forum and has served on various committees of NERC. Second, he plans to improve communication. 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. The commission is in the process of establishing new bylaws that could alleviate those issues, he added. Dominic Anthony Walsh can be reached at Dominic@TPR.org and on Twitter at @_DominicAnthony, Texas Public Radio | He said ERCOT and Brad Jones have roles to play as messengers, but that they alone cannot prevent another power failure. Tags electricity grid ercot Texas Legislature Texas power grid winter freeze. Brad Jones of Liberty Hill is the Interim CEO of ERCOT. Brad Jones will fill the role in an interim capacity in early May. He earned his bachelors degree in electrical engineering from the Victoria Jubilee Technical Institute, Bombay. Got an opinion about this issue? Terms & Conditions. More than 400 Texans have filed 170 lawsuits against utility companies and ERCOT over the blackouts that killed hundreds of people over the course of a week. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. Mr. Black holds a bachelors degree from the University of Texas at San Antonio. 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. 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. At that rate, ERCOT might finally be finished paying for this years outages by the end of the century. 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. 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. See here for a complete list of exchanges and delays. 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. Find the full series here: Keeping the Lights On. He graduated from South Texas College of Law in 2002 and earned awards in South Texas esteemed advocacy program. Box 13326, Austin, TX 78711-3326 Fax 512-936-7003 News Release Contact: Andrew Barlow March 11, 2021 media@puc.texas.gov 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.. Board members voted 6-1, with two abstaining, in favor of serving Magness with his notice. He spent years developing generation and working with regulators for TXU, and he spent years in top roles at ERCOT. The development of those rules was really done by a broad group of diverse participants in the marketplace, including consumers, Jones said. We manage the flow of electric power to more than 26 million Texas customers -- representing 90 percent of the state's I expect for that plan to be very specific and very aggressive, he said. RELATED: Terminated ERCOT CEO says he won't seek or accept severance pay. DETAILS BELOW. That represents money owed by wholesale buyers to power generators who sold electricity at the market cap rate during the freeze. 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. When industry insiders were creating the first protocols for the Texas grid operator, veteran energy executive Brad Jones was at the table. 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. Future performance, he will done by a grant fromthe Marilyn Brachman Hoffman Foundation PricewaterhouseCoopers! Buyers to power generators who sold electricity at the beginning of March accept severance pay market cap during! 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