Electricity

ERCOT ousts CEO Bill Magness following failure of state’s electric system

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Houston Chronicle

Amanda Drane

Bill Magness, President and CEO of the Electric Reliability Council of Texas (ERCOT), right, arrives to testify as the Committees on State Affairs and Energy Resources hold a joint public hearing to consider the factors that led to statewide electrical blackouts, Thursday, Feb. 25, 2021, in Austin, Texas. Magness was ousted by the ERCOT board Wednesday.
Eric Gay, STF / Associated Press

The board of the of the state’s grid manager ousted its CEO Wednesday, two weeks after the failure of the state’s electric system shut power and heat for some 4 million Texas during frigid winter weather.

In a statement, the board of the Electric Reliability Council of Texas, or ERCOT, said it would exercise the 60-day termination notice of President and CEO Bill Magness, who will continue to “work with state leaders and regulators on potential reforms to ERCOT” during the period. The board said it would …

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