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Texas power grid CEO is fired following widespread outages during winter storms

March 4, 2021. Summarized by summa-bot.

Compression ratio: 68.4%. 1 min read.

FILE - In this Thursday, Feb. 25, 2021 file photo, Bill Magness, president and CEO of the Electric Reliability Council of Texas (ERCOT), testifies as the Committees on State Affairs and Energy Resources hold a joint public hearing to consider the factors that led to statewide electrical blackouts in Austin, Texas. On Friday, Feb. 26, 2021, The Associated Press reported on stories circulating online incorrectly asserting that an order from the U.S. Department of Energy under President Joe Biden blocked Texas from generating adequate power during the recent statewide emergency because it would exceed pollution limits. But the order did the opposite of what social media users are claiming. It gave the Electric Reliability Council of Texas, which operates Texas??? power grid, emergency permission to produce enough energy to restore power to Texas homes, even if it temporarily exceeded pollution limits. (AP Photo/Eric Gay)

Following widespread power outages during a series of winter storms that left many Texas residents in the dark for days, the head of the organization overseeing the state's power grid has been fired.

(CNN)Following widespread power outages during a series of winter storms that left many Texas residents in the dark for days, the head of the organization overseeing the state's power grid has been fired.

Bill Magness, president and CEO of Electric Reliability Council of Texas (ERCOT), was terminated from his contract by the organization's board of directors after an emergency meeting Wednesday night.

In a statement sent to CNN, ERCOT says the board "directed the Corporate Secretary to exercise the 60 days' termination notice" to Magness pursuant to the employee agreement.

ERCOT expects to start an immediate search for a new president and CEO, the statement said.

The next ERCOT board meeting is currently scheduled for April 13.

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