ERCOT Chief Canned In Wake Of Texas Winter Storm Outages

By Dave Simpson (March 3, 2021, 11:50 PM EST) -- The Electric Reliability Council of Texas' board of directors announced Wednesday night it will terminate its president and CEO within the next 60 days in the aftermath of last month's deadly winter storm, when the state's primary grid operator cut power to millions as temperatures plummeted.

The ERCOT board directed its corporate secretary to exercise the 60-day termination notice to Bill Magness, who will remain with the company as it searches for new leadership, the board said in a statement.

"During this transition period, Bill will continue to serve as President and CEO and work with state leaders and regulators on...

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