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. 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. He graduated from South Texas College of Law in 2002 and earned awards in South Texas esteemed advocacy program. The scene in North Austin on Feb. 16, 2021, following the devastating winter storm. All of those members lived out of state, records show. 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. He has over 35 years of experience in the electric energy industry. Dan Woodfin is ERCOTs Vice President of System Operations. Brad Jones, Ercots interim chief executive officer, is aware hes walking a fine line. Senior Vice President, General Counsel and Corporate Secretary. 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. Robert Black joined ERCOT as Vice President of Public Affairs in November 2022 with more than three decades of political and government experience. Dominic Anthony Walsh covers education & families for Houston Public Media's enterprise team. On Tuesday night, Jones tuned in virtually for a town hall with voters and Republican officials based in Tarrant County. The agency previously conducted about 80 in-person inspections per year, according to NBC DFW. 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. The board of directors gave CEO Bill Magness a 60-day termination notice in early March, weeks after the deadly storm. Unlike other states, which are connected to power grids on either the western or eastern side of the country, electricity in Texas is generated and used only within state lines. 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. At that rate, ERCOT might finally be finished paying for this years outages by the end of the century. What I intend to do here at ERCOT is the very same thing, Jones said of his experience in New York. 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. Trust with electricity companies, trust with lawmakers, and trust, most crucially, with regular Texans. 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. He didnt immediately respond to a LinkedIn message. Senior Vice President and Chief Administrative Officer, Chief of Staff. 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. The development of those rules was really done by a broad group of diverse participants in the marketplace, including consumers, Jones said. Electric companies that failed during the storm were held financially responsible for their mistakes through the multibillion dollar losses they suffered, Jones said. We're in the process of transitioning services for our Today in Houston newsletter. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. 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. Prior to joining ERCOT, he served as Vice President of External Affairs for AEP Texas. 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. 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. 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. Join others and make your gift to Houston Public Media today. His previous experience within ERCOT includes serving as Chief of Staff and as Interim Chief Operating Officer. 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. Only three facilities this year failed to meet ERCOTs expectations for winter preparations, Jones told the town hall audience. 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." Dozens of insurance companies have also filed suit. 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. Ms. Day joined ERCOT in 2000 and has more than 30 years of experience in the electric power industry. 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. 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. Industry insiders will be pounding on his door, but he should seek counsel from consumers, city emergency officials, health professionals and environmental experts, too. Brad Jones (born April 1, 1986) is famous for being football player. After so many angry Texans became armchair electricity experts on social media during the February freeze, this state could use some tethering to reality. All rights reserved. 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. 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 March 11, 2021 / 3:16 PM / CBS DFW. Contact herby emailor viaTwitter. 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. 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. 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. They took until November to send us a list of recommendations for how to deal with the cold weather from Uri, Jones said. More than 4 million Texas homes and businesses were without power over several days of bitter cold. Brad Jones is an Interim President & Chief Executive Officer at Ercot based in Taylor, Texas. Industry veteran Brad Jones is taking over as interim president and CEO of the Magnessjoined Ercotin 2010, and hes led the grid operator since 2016. Hannah covers education, local government, transportation, business, real estate development and nonprofits in these communities. April 27, 2021 Updated: April 27, 2021 6:24 p.m. Instead, Jones said in an interview with The Dallas Morning News that he will start by rebuilding trust. 1996-2023 Electric Reliability Council of Texas, Inc. All rights reserved. The Electric Reliability Council of Texas hired an old hand as its interim chief executive. Ms. Spak has more than 15 years of extensive experience in human resources at diverse corporate entities. See here for a complete list of exchanges and delays. He said ERCOT and Brad Jones have roles to play as messengers, but that they alone cannot prevent another power failure. 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. 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. 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. Vice President, System Planning and Weatherization. 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. The grid operators usual approach to handling unsettled market transactions is for all participants to pay fees to cover the costs, up to $2.5 million per month. WebIf the problem persists, contact the ERCOT Service Desk at ServiceDesk@ercot.com or 1-866-870-8124. Mr. Black holds a bachelors degree from the University of Texas at San Antonio. Mr. Black leads the organizations external communications, government affairs, and customer support and oversees communications with Texans, state agencies, and lawmakers. 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. Jones, who worked for Texas energy companies and in senior roles at ERCOT before leading New York states power grid operator as president, takes 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. See here for a complete list of exchanges and delays. 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. 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.. 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. Prior to joining ERCOT, she worked in hi-tech and healthcare industries. Resources like these are made possible by the generosity of our community of donors, foundations, and corporate partners. Mr. Rickerson brings a considerable amount of electric industry experience to his position, including more than 19 years at ERCOT in various roles. Esto es lo que necesita saber para esta semana. 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. 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.. 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. 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. Jones will serve beginning May 4. I commend the ERCOT Board for confirming a leader of Brads caliber as interim CEO, said PUC Chairman Peter Lake in a release statement. By, How the ongoing drought impacts the Hill Country, Gulf of Mexico warming at faster rate than global ocean, study finds, Bills make their way to committees at the Capitol this week, the first step toward possible passage, Why hurricanes feel like they're getting more frequent. Her position is supported by a grant fromthe Marilyn Brachman Hoffman Foundation. He wasnt ready to say if he is leaning to one idea or another. 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. 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