Market Information System Grid and Market Conditions

News Release

April 27, 2021

ERCOT Board announces interim CEO for grid operator

AUSTIN, TX, April 27, 2021 – The ERCOT Board of Directors today announced the selection of Brad Jones to serve as the interim President and CEO for the Texas grid operator serving 90 percent of the state, effective May 4, 2021.

"The Board looks forward to working with Brad during this time as ERCOT prepares for summer operations," said ERCOT Board Director and HR&G Committee Chair Mark Carpenter. "He is an experienced leader and understands the ERCOT vision and mission."

"I commend the ERCOT Board for confirming a leader of Brad’s caliber as interim CEO," said PUC Chairman Peter Lake. "He brings the right combination of ERCOT knowledge and broad industry expertise needed to provide the stability and reliability that Texans expect and deserve."

Mr. Jones has 30+ years of industry experience, including serving as former ERCOT Vice President of Commercial Operations from April 2013 – December 2014 and Senior Vice President and Chief Operating Officer from January 2015 – October 2015. He served as President and Chief Executive Officer of the New York Independent System Operator from October 2015 – October 2018. He is a past Chairman of the Edison Electric Institute’s Executive Advisory Committee and a board member for the Gulf Coast Power Association. He earned a Bachelor of Science in Mechanical Engineering from Texas Tech University and a Master of Business Administration from the University of Texas at Arlington.

Mr. Jones was elected by the Board to serve as interim President and CEO until the permanent position has been filled, up to a term of one year (pursuant to ERCOT Bylaws). The terms of Mr. Jones’ engagement with ERCOT will be established with the ERCOT Human Resources and Governance Committee, subject to Board approval.

On March 15, 2021, at the request of the Board, ERCOT issued a Request for Proposal to identify and contract with a qualified executive search firm to assist the Board with identifying, investigating, qualifying and presenting a pool of qualified candidates for ERCOT’s President and CEO position. Confidential proposals were due April 9, and ERCOT received eight proposals that it is evaluating for Board consideration.

On March 10, 2021, ERCOT provided an update to the Public Utility Commission of Texas on its governance status. The document is filed in PUC Project No. 51878.

The Electric Reliability Council of Texas (ERCOT) manages the flow of electric power to more than 26 million Texas customers -- representing about 90 percent of the state’s electric load. As the independent system operator for the region, ERCOT schedules power on an electric grid that connects more than 46,500 miles of transmission lines and 710+ generation units. It also performs financial settlement for the competitive wholesale bulk-power market and administers retail switching for nearly 8 million premises in competitive choice areas.

ERCOT is a membership-based 501(c)(4) nonprofit corporation, governed by a board of directors and subject to oversight by the Public Utility Commission of Texas and the Texas Legislature. Its members include consumers, cooperatives, generators, power marketers, retail electric providers, investor-owned electric utilities, transmission and distribution providers and municipally owned electric utilities.

Contact

media@ercot.com

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