Texas power grid operator fires CEO after storm chaos

[DonViejo]

Source: Agence France-Presse/Yahoo News


Thu, March 4, 2021, 6:56 AM·1 min read

Texas' power grid operator has fired its president and CEO following last month's winter storm that left millions without electricity, media reports said.

Electric Reliability Council of Texas (ERCOT) has under come fire from customers and politicians over its apparent failure to prepare for the cold weather and the enormous bills some customers have faced due to a massive spike in energy prices.

President and CEO Bill Magness was fired late Wednesday after the ERCOT board held an emergency meeting and gave him 60 days' termination notice, CNN and other media reports said, citing an ERCOT statement.

Texas Lieutenant Governor Dan Patrick, who has called on the leaders of ERCOT and the Public Utility Commission of Texas to resign, welcomed the news.

Read more: https://news.yahoo.com/texas-power-grid-operator-fires-115608067.html

[Pharlo]

1. But how much is his golden parachute?

And are they going to freeze it like he did Texas?

[dalton99a]

7. +1. He is making at least $900,000 right now

[SallyHemmings]

2. Somebody had to take the fall.

[tanyev]

5. Yep.

Fire the ERCOT CEO, and then the legislature can decide they don't really need to pass *gasp* regulations. The companies who didn't winterize properly will decide it's too expensive to do that and it will all happen again in another few years. I hope insurance providers refuse to give those companies liability insurance unless they do the appropriate winterizations.

[LeftInTX]

12. They also fail to provide reserve sources of energy

Apparently the Texas market is not set up that way. It would "cut into profits" for energy companies.
They could have provided reserves in advance of the storm even without winterizing, but the energy generators only provide "on demand". The Texas market is supply and demand only. Most other states have reserves. Residents in those state pay a supply/reserve fee on their monthly bill. The fee is usually like $10.

[LeftInTX]

11. They're all bailing ship

So far this is the 8th person who has resigned. Unfortunately, it's a dog and pony show.

[Lonestarblue]

3. Too bad we can't fire the governor and lieutenant governor just yet.

Both deserve it, but it will be an uphill battle next year because all the Texas rural areas just want no government and the freedom to do whatever they want, even when it hurts (or kills) other people. No masks, business as usual. If you get sick and die, too bad for you but it’s not my problem.

[turbinetree]

4. They should be charged with negligent homicide all of them

no water, still trying to get power, being in food line sucks, can't even flush your toilets, property damage, and then what's really classic is that the homicidal governor creating more deflection of his homicidal psychopathic bent, orders no masks and the chamber of commerce in the state and the legislature is just cheering and only 5% or 6% of the population has been vaccinated............

And these psychopaths' keep getting re-elected ................

[ananda]

6. Lots of resignations, but will anything actually change?

I mean, it's Abbott, Patrick, and Paxton... the trifecta of evil.

[Scalded Nun]

8. ERCOT does nothing without the direction of state leadership, and that leadership has not changed in

over 25 years.

This is another GOP failure (what a surprise) - This time the names are Abbott and Patrick.

...And when the election comes up you can expect to see that asshole Patrick drive up in his little pickup truck and tell the world that this was all the Democrats doing. We all know the Democrats have been ruining Texas for over 25 years.

Who says the war on education is not paying dividends?

[turbinetree]

9. That is what is formally called an oligarchy in the flesh

[Dustlawyer]

10. Come on Beto!!!

I cannot wait for him to run for governor! He should have some coat tails to ride for other Democrats too!

[ShazzieB]

13. Yes! Go, Beto!

[TexasBushwhacker]

14. Scapegoat

Deregulation is to blame, not ERCOT.