February 25, 2021 file photo shows Bill Magness, president and CEO of the Electric Reliability Council of Texas (ERCOT), testifying at a Committees on State Affairs and Energy Resources joint public hearing in Austin on factors that led to statewide electrical blackouts. When Will Power Return? ERCOT Explains Need for Prolonged Outages, No On Thursday afternoon and Friday morning, reporter Jeffrey Ball talked to Bill Magness, the president of the Electric Reliability Council of Texas, ERCOT, the grid operator at the center of. Magness agreed to release his contract Thursday, hours after NBC5 Investigates asked him to make the details of his severance public. Magness, who made more than $876,000 in salary and other compensation in 2019, was the target of much of the outrage over the blackouts that began Feb. 15 when a winter storm plunged temperatures into single digits across Texas, causing skyrocketing demand for electricity to heat homes. It comes from the Texans after paying their electric bills. Outgoing ERCOT CEO Bill Magness to Receive Golden Parachute Worth More Americas +1 212 318 2000. Executive Overseeing Texas Power Grid Is Forced Out From Within, https://www.nytimes.com/2021/03/03/us/ercot-bill-magness-fired-texas.html. ERCOT's CEO Bill Magness said having board members not living in Texas would not have altered how the company operated amid the severe winter conditions and dismissed calls for prohibiting. The Electric Reliability Council of Texas (ERCOT) board has . ", Cutting Magness off, Whitmire asked, "But you wouldn't have changed anything in terms of your play calling during those critical hours?". The recently ousted CEO of the entity that maintains and operates much of Texas's electricity grid has told its board of directors he will not accept an $800,000 severance. All of this was caused by a weather system he described as bigger than anything the agency's forecasters ever predicted, throwing into question the forecast models used to predict winter weather and the states power needs. Support. Copyright 2021 KBTX. Fired ERCOT leader refuses more than $800,000 severance pay in storm aftermath. Texas power grid CEO Bill Magness getting fired in wake of deadly I mean, thats a policy decision for the Legislature to make. ERCOT Removes Names of Board Members from Site Following - Newsweek
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