BREAKING NEWS

Texas power grid operator CEO fired following massive winter storm

All Patriot NewsMarch 4, 20215min
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The head of the power company that failed Texas during last month’s blizzard will not be in the position much longer.

Electric Reliability Council of Texas’s board of directors decided on Wednesday to exercise the company’s 60-day termination notice for president and CEO Bill Magness.

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“The ERCOT Board of Directors met this evening and directed the Corporate Secretary to exercise the 60 days’ termination notice to ERCOT President and CEO Bill Magness pursuant to the employment agreement with ERCOT,” the company said in a statement, obtained by CNN. “During this transition period, Bill will continue to serve as President and CEO and work with state leaders and regulators on potential reforms to ERCOT.”

It’s unclear who will replace Magness, but “The ERCOT Board is expected to begin an immediate search for a new President and CEO, and will continue to discuss the transition plan at future meetings during this time period.”

Thousands were left without power or running water for days during the height of the storm and shortly thereafter. Gov. Greg Abbott called for an investigation into ERCOT’s failure during the storm with the Federal Energy Regulatory Commission and North American Electric Reliability Corporation.

CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER

In the aftermath of the power failure, all four out-of-state board members of the Texas power grid operator submitted their resignations, and another candidate withdrew his application from the pool of candidates to fill a vacancy on the board.

At least 47 weather-related deaths were reported in Texas during the storm.

ERCOT did not immediately return a request for comment from the Washington Examiner.

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