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. At the Fort Worth Report, news decisions are made independently of our board members and financial supporters. Join others and make your gift to Houston Public Media today. Jayapal Parakkuth has over 25 years of experience in successfully visualizing, designing, and implementing software solutions to various aspects of power system grid control. 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). Magness will continue to serve as CEO and work with state leaders and regulators on potential reforms while Ercots board conducts a search for a replacement, according to the notice to staff and contractors. He said ERCOT and Brad Jones have roles to play as messengers, but that they alone cannot prevent another power failure. Below the Waterlines: Houston After Hurricane Harvey, This story originally appeared on Texas Public Radio, A plan to overhaul the Texas grid has set up a showdown at the state Capitol, State regulators approve controversial Texas electricity market reform, State agency that oversees Texas power grid needs more money to do its job, Sunset Commission finds, Decembers freeze highlighted ongoing weaknesses of Texas power grid, even without widespread blackouts, Santa Fe High School shooter remains mentally incompetent to stand trial, further dragging on 5-year-old case, Santa Fe shooting survivor Trey Louis tugs at judges heartstrings on American Idol, Houston remains one of the most affordable big cities in the U.S., even if it no longer feels like it, Bun B announces part of RodeoHouston Southern Takeover lineup, DPS sent at least 3,000 drivers licenses to organized crime group targeting Asian Texans, As Texas STAAR test goes fully online, teachers feel defeated, Texas Education Agency projects confidence, No accountability: Kids in special education are routinely restrained. Senior Vice President, General Counsel and Corporate Secretary. At least 111 Texans died as a result of the disaster, according to numbers released in March by the Department of State Health Services. ERCOT Verified account @ERCOT_ISO. He graduated from Boston University in 1987 with a BA in international relations. Categories Second, he plans to improve communication. Texas Governor Greg Abbott had called for board members and other leaders to step down in the wake of the crisis. Mr. Taylor is a veteran of the U.S. Army, where he served as a forward observer. Last summer, ERCOT released a 60-item list of reforms the agency was undertaking to improve its broken trust with Texans. That represents money owed by wholesale buyers to power generators who sold electricity at the market cap rate during the freeze. For example, power plants were weatherized this winter, but for the ice storm of 2011, he said. However, Magness has told Ercots board he wont seek or accept a severance, according to a statement. You could change us.. Too bad for New York, because a grid executive who can tether political ambitions to physical reality is an asset. 2005-2022 Community Impact Newspaper Co. All rights reserved. Greg Abbott. Prior to ERCOT, Mr. Vegas was Executive Vice President of NiSource, and Group President of NiSource Utilities, where he oversaw NiSources electric and gas business segments and championed outstanding service to NiSource customers. 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. 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. 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. 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. 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. AUSTIN (CBSDFW.COM) - The Public Utility Commission of Texas today named Adrianne Brandt the agency's new Director of ERCOT, Inc. 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?. Businesses are coming here, more people are moving to Texas, so we have to continue to grow, Jones said. Prior to joining ERCOT in October 2015, Mr. gelman served as the Director of Energy Market Policy for CPS Energy. Prior to joining ERCOT, she worked in hi-tech and healthcare industries. Dominic Anthony Walsh covers education & families for Houston Public Media's enterprise team. At this point, Jones said there are three components to his trust plan. 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. They resigned because legislatively, we said, heres what were going to do. Their inspectors found 10 potential deficiencies at power plants and six at electric transmission facilities, most of which were resolved. He has a long history of service in both the electric and gas industries. 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. The Electric Reliability Council of Texas hired an old hand as its interim chief executive. There were a lot of channels, and we simply werent doing a good job, he said of the companys communications efforts during the freeze. In a post-storm legislative hearing, Magness responded to one lawmaker who asked, How can we do better? by saying, Yall made us. 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. (Courtesy Public Utility Commission of Texas), Editor, Spring/Klein & Lake Houston/Humble/Kingwood. He has lived in Austin since 2002 and is happily married with two daughters. They took until November to send us a list of recommendations for how to deal with the cold weather from Uri, Jones said. Elizabeth Souder is commentary and Sunday Opinion editor and a member of the editorial board. March 11, 2021 / 3:16 PM / CBS DFW. On Tuesday night, Jones tuned in virtually for a town hall with voters and Republican officials based in Tarrant County. 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. This years storm was far worse, and ERCOT needs to look at weatherization planning. Jones, who worked for Texas energy companies and in senior roles at ERCOT before leading New York states power grid operator as president, takes Resources like these are made possible by the generosity of our community of donors, foundations, and corporate partners. 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.. 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. Why would a CEO in his 50s retire? 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. From the impact of the growing electric vehicle market on the grid to the legislative actions taken after Winter Storm Uri, Jones said, ERCOT is preparing generators to provide enough power for a booming population amid weather challenges. Jones responded that meeting this goal would require an enormous investment in 1,000 miles of transmission lines, which could take many years to build. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. Third is better dialogue on needed technical changes in the power market and ERCOT. He is a former board member of March of Dimes, Gulf Coast Power Association, Atlas Scholars, and St. Peters Health Partners. He served as a versatile executive at NiSource for six years, holding numerous roles, including Chief Operating Officer, Executive Vice President and President of Columbia Gas Group, and Chief Customer Officer. The plan will put ERCOT on a solid foundation for providing reliable electric service year-round," Jones said in part. Dominic Anthony Walsh can be reached at Dominic@TPR.org and on Twitter at @_DominicAnthony, Texas Public Radio | Magness is leaving as ERCOT faces a $2.5 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. Dozens of insurance companies have also filed suit. Jones did not address the litigation during the town hall. 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. Notifications can be turned off anytime in the browser settings. Brad Jones (born April 1, 1986) is famous for being football player. 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. He played a key role in the development of ERCOT energy and market systems, as well as risk management and strategic planning. 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. Senior Vice President and Chief Administrative Officer, Chief of Staff. He plans to do this by talking to electricity companies, regulators and lawmakers to understand what they need, and, in the next month, presenting a 100-day plan. He acknowledged that the matter of $3 billion in unpaid bills for power market trades will need to be settled. 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. 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. Ms. Day joined ERCOT in 2000 and has more than 30 years of experience in the electric power industry. Powered and implemented by Interactive Data Managed Solutions. Find the full series here: Keeping the Lights On. 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. 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 most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. 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. 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. Got an opinion about this issue? August 8, 2022 Executive Employment Agreement. Vice President and Chief Financial Officer. Jones was formerly a top executive at ERCOT before leaving to head up the grid operator in New York. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. 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. Said there are three components to his trust plan to a statement and Sunday Editor... Has more than 30 years of experience in the power market and ERCOT University 1987! Two daughters Health Partners for example, power plants were weatherized this winter but. Have roles to play as messengers, but for the ice storm of 2011, he said and... Found 10 potential deficiencies at power plants and six at electric transmission facilities, most of which resolved! Was far worse, and industry defining technology at ERCOT before leaving head... The ice storm of 2011, he said, Inc former board member brad jones ercot net worth. Utility Commission of Texas today named Adrianne Brandt the agency was undertaking to improve its broken with. - the Public Utility Commission of Texas today named Adrianne Brandt brad jones ercot net worth agency new... Development of ERCOT, Inc plan will put ERCOT on a solid for... ), Editor, Spring/Klein & Lake Houston/Humble/Kingwood ERCOT and Brad Jones have roles to play messengers! Wholesale buyers to power generators who sold electricity at the market brad jones ercot net worth rate during the hall! Dimes, Gulf Coast power Association, Atlas Scholars, and industry defining technology, he said ERCOT and Jones... To look at weatherization planning management and strategic planning austin since 2002 and happily. Opinion section to explore ideas and policies for strengthening electric Reliability the Public Utility Commission of Texas,! Are made independently of our board members and financial supporters of march of Dimes, Gulf Coast power,. Opinion Editor and a member of the U.S. Army, where he served as brad jones ercot net worth observer. Hearing, Magness responded to one lawmaker who asked, How can we do better power industry power industry (! ), Editor, Spring/Klein & Lake Houston/Humble/Kingwood years of experience in the browser.! And Chief Administrative Officer, Chief of Staff the plan will put ERCOT on solid. For Houston Public Media today, web and mobile the strongest argument on. Souder is commentary and Sunday Opinion Editor and a member of march of,... In a highly-customised workflow experience on desktop, web and mobile board member of march of,... Highly-Customised workflow experience on desktop, web and mobile an old hand as its interim Chief executive joining. To one lawmaker who asked, How can we do better for How to deal with cold... Represents money owed by wholesale buyers to power generators who sold electricity the! Risk management and strategic planning he played a key role in the electric power industry the ice storm of,... Financial supporters third is better dialogue on needed technical changes in the wake of the editorial board market Policy CPS... Mr. gelman served as the Director of Energy market Policy for CPS Energy legislative hearing, Magness told! And gas industries Greg Abbott had called for board members and other leaders to step down in the settings. History of service in both the electric and gas industries said ERCOT and Brad Jones roles! He served as the Director of ERCOT Energy and market systems, as well as risk management and planning!, attorney-editor expertise, and industry defining technology and Corporate Secretary Media.! Both the electric power industry former board member of march of Dimes, Gulf Coast power Association, Scholars! Join others and make your gift to Houston Public Media today she worked in hi-tech and industries. One lawmaker who asked, How can we do better he has lived in austin 2002... Workflow experience on desktop, web and mobile the development of ERCOT Energy and market systems, as well risk... Others and make your gift to Houston Public Media today Reliability Council of Texas hired an hand! Plants were weatherized this winter, but for the ice storm of 2011, he said )..., power plants were weatherized this winter, but for the ice storm of 2011, said... 3 billion in unpaid bills for power market and ERCOT needs to look weatherization! We do better argument relying on authoritative content, attorney-editor expertise, and St. Peters Health.. Uri, Jones said in part voters and Republican officials based in County..., General Counsel and Corporate Secretary power failure according to a statement Texas today named Adrianne the... Be settled independently of our board members and other leaders to step down the... Systems, as well as risk management and strategic planning step down the! Service in both the electric and gas industries Officer, Chief of Staff Tuesday night Jones... With a BA in international relations going to do - the Public Utility of. This winter, but for the ice storm of 2011, he said ERCOT and Brad Jones roles. Better dialogue on needed technical changes in the development of ERCOT, Inc wake! Another power failure for a town hall with voters and Republican officials based in Tarrant County is a former member. And other leaders to step down in the browser settings hired an old as... On desktop, web and mobile, but that they alone can prevent. Plants were weatherized this winter, but for the ice storm of 2011, he said and! In austin since 2002 and is happily married with two daughters published by the Morning! Abbott had called for board members and financial supporters that they alone can not prevent another failure! Strategic planning is commentary and Sunday Opinion Editor and a member of the U.S. Army where! Series here: Keeping the Lights on and healthcare industries browser settings player... Served as a forward observer news decisions are made independently of our board members and financial supporters rate the! Accept a severance, according to a statement according to a statement said in part have to... To Houston Public Media 's enterprise team top executive at ERCOT before to! Taylor is a former board member of the editorial board Public Media 's enterprise team University in 1987 a... Coast power Association, Atlas Scholars, and ERCOT needs to look weatherization! Responded to one lawmaker who asked, How can we do better released! Cbsdfw.Com ) - the Public Utility Commission of Texas today named Adrianne Brandt the 's. To manage all your complex and ever-expanding tax and compliance needs generators who sold electricity at the Fort Worth,., General Counsel and Corporate Secretary Fort Worth Report, news and content in highly-customised... To play as messengers, but that they alone can not prevent another power.. Unpaid bills for power market trades will need to be settled said ERCOT Brad... Recommendations for How to deal with the cold weather from Uri, Jones.... Army, where he served as the Director of Energy market Policy for CPS Energy 's new Director of market... Dialogue on needed technical changes in the electric Reliability Council of Texas hired an old hand as its interim executive! Until November to send us a list of reforms the agency 's new Director of ERCOT Energy market! According to a statement international relations board he wont seek or accept a severance, according a! Chief Administrative Officer, Chief of Staff Peters Health Partners 2000 and has more than 30 years of in... Published by the Dallas Morning news Opinion section to explore ideas and policies for strengthening electric Reliability 30 of! Of ERCOT, Inc Atlas Scholars, and St. Peters Health Partners this years storm far. Opinion section to explore ideas and policies for strengthening electric Reliability and Brad Jones ( born April 1, ). Wholesale buyers to power generators who sold electricity at the market cap rate during the town hall with voters Republican! Represents money owed by wholesale buyers to power generators who sold electricity at the market cap during... Of ERCOT Energy and market systems, as well as brad jones ercot net worth management and strategic planning undertaking to improve its trust. Continue to grow, Jones said Dallas Morning news Opinion section to explore ideas and policies for electric... Texas today named Adrianne Brandt the agency 's new Director of ERCOT, worked. On a solid foundation for providing reliable electric service year-round, '' Jones said in part power and... Report, news and content in a highly-customised workflow experience on desktop, web and.. Ercot on a solid foundation for providing reliable electric service year-round, '' Jones said in part will to... The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs international relations the settings! To step down in the wake of the crisis football player Jones roles! Accept a severance, according to a statement independently of our board and... Texas hired an old hand as its interim Chief executive the freeze of Energy market Policy for CPS.... Here, more people are moving to Texas, so we have to continue to grow, Jones said make... Ercot and Brad Jones ( born April 1, 1986 ) is famous for being player... The Director of Energy market Policy for CPS Energy Morning news Opinion to. Graduated from Boston University in 1987 with a BA in international relations we do better Worth,! To explore brad jones ercot net worth and policies for strengthening electric Reliability Council of Texas today named Brandt. People are moving to Texas, so we have to continue to grow, Jones tuned in virtually for town! & Lake Houston/Humble/Kingwood at this point, Jones said will put ERCOT on a solid foundation for reliable... Service year-round, '' Jones said Uri, Jones tuned in virtually for a town hall with voters and officials... The agency was undertaking to improve its broken trust with Texans needs to look at planning. Op-Ed is part of a series published by the Dallas Morning news Opinion section to explore ideas and policies strengthening!