There will be times that we need to speak frankly at ERCOT about what needs to occur to preserve reliability.. Dan Woodfin is ERCOTs Vice President of System Operations. Brad Jones, interim CEO of ERCOT, explains how the power grid partners with crypto mining facilities within Texas to manage energy demand. Mr. Taylor has a BBA from the University of Michigan. Brad Jones Summary Overview CB Rank (Person) 23,869 Primary Job Title Senior Vice President and Chief Operations Officer Primary Organization ERCOT Gender Pablo Vegas joined ERCOT in October 2022 as President and CEO. Second, he plans to improve communication. Mr. Seely oversees state and federal policy and manages the overall litigation strategy of ERCOT. Mr. Taylor has more than 20 years of finance experience in various roles. According to his LinkedIn page, he left for retirement after three years. FORTUNE may receive compensation for some links to products and services on this website. 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. Robert Black joined ERCOT as Vice President of Public Affairs in November 2022 with more than three decades of political and government experience. He played a key role in the development of ERCOT energy and The Electric Reliability Council of Texas (ERCOT) board has selected a new CEO and president. 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. **Please note** If you are already signed up for the newsletter, you do not need to sign up again. 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. 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. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. 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. At least 111 Texans died as a result of the disaster, according to numbers released in March by the Department of State Health Services. This years storm was far worse, and ERCOT needs to look at weatherization planning. Notifications can be turned off anytime in the browser settings. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. MacKenzie Sigalos. Mr. Seely has been with ERCOT since May 2005. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. 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. Before joining ERCOT, Mr. Taylor spent seven years in the finance department at the Lower Colorado River Authority. 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. Your subscription will be migrated over. 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. You could change us.. 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.". There were a lot of channels, and we simply werent doing a good job, he said of the companys communications efforts during the freeze. 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. 2005-2022 Community Impact Newspaper Co. All rights reserved. At the Fort Worth Report, news decisions are made independently of our board members and financial supporters. All Rights Reserved. Jones was once Ercots chief operating officer, and is a Texan. He spent years developing generation and working with regulators for TXU, and he spent years in top roles at ERCOT. 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. The Texas legislature oversees all of the organizations, and its efforts to mandate weatherization have stalled. Previously, Brad was a Director, Information Technol Read More 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. 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. When industry insiders were creating the first protocols for the Texas grid operator, veteran energy executive Brad Jones was at the table. 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. (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.). Brad Jones, Ercots interim chief executive officer, is aware hes walking a fine line. 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. 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. Vice President, Security & Compliance and Chief Compliance Officer. Find the full series here: Keeping the Lights On. The unprecedented outages caused as much as $129 billion in economic losses. Before joining AEP, Mr. Black served as Texas Governor Rick Perrys Press Secretary and Communications Director from 2003-2008, and also worked as a Senior Communications Advisor for Greg Abbott during his 2002 and 2014 campaigns, respectively. All rights reserved. Texas Governor Greg Abbott had called for board members and other leaders to step down in the wake of the crisis. Send a letter to the editor and you just might get published. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. He didnt immediately respond to a LinkedIn message. Additionally, he spent time in Washington, DC working in the Majority Leaders office and the Committee on Ways and Means. Magnessjoined Ercotin 2010, and hes led the grid operator since 2016. Vice President, Corporate Strategy and PUC Relations. (Courtesy Public Utility Commission of Texas), Editor, Spring/Klein & Lake Houston/Humble/Kingwood. More than 4 million Texas homes and businesses were without power over several days of bitter cold. He has lived in Austin since 2002 and is happily married with two daughters. The agency previously conducted about 80 in-person inspections per year, according to NBC DFW. Betty Day was named Vice President of Security & Compliance and Chief Compliance Officer in 2019 after serving in various executive roles since 2011. 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. ERCOT Verified account @ERCOT_ISO. March 11, 2021 / 3:16 PM / CBS DFW. 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. 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. 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. 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. That represents money owed by wholesale buyers to power generators who sold electricity at the market cap rate during the freeze. Vice President, System Planning and Weatherization. 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. 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.. See here for a complete list of exchanges and delays. 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. 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. Jones defended the design of Texas electricity market and power grid. 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. "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. All quotes delayed a minimum of 15 minutes. Jayapal Parakkuth has over 25 years of experience in successfully visualizing, designing, and implementing software solutions to various aspects of power system grid control. 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. Some Texans want ERCOT to be held legally liable for the outages and the resulting billions of dollars in damage to homes and businesses. Get smart opinions on the topics North Texans care about. 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. 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. 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. 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. Texans can be confident that the grid is more prepared than ever before, he added. Previously, she spent nine years with East Kentucky Power Cooperative in the areas of load forecasting, load research, and market research. Ercots chair and four other directors resigned Feb. 23, while two other board members resigned in the following days. 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. 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 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. 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. Posted: Apr 27, 2021 / 02:41 PM CDT. He brings the right combination of ERCOT knowledge and broad industry expertise needed to provide the stability and reliability that Texans expect and deserve.. In a post-storm legislative hearing, Magness responded to one lawmaker who asked, How can we do better? by saying, Yall made us. Our Standards: The Thomson Reuters Trust Principles. Enough jargon, he said, we have to speak in very clear terms.. He earned both a BS in electrical engineering and an MBA from Texas A&M University. Contact herby emailor viaTwitter. 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. 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. From 2013 until 2018, Mr. gelman served on the Gulf Coast Power Associations (GCPA) Board of Directors, including presiding as Vice President in 2014 and President in 2015. Mr. Black holds a bachelors degree from the University of Texas at San Antonio. Mr. gelman served as Chairman of the ERCOT Technical Advisory Committee from 2011 to 2013. 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