ERCOT Board Members Exit After Texas Outages
ERCOT Board Members Exit After Texas Outages
Top board members of Texas power grid operator, Electric Reliability Council of Texas (ERCOT) resigned yesterday after a cold front and deadly winter storm left Texans without electricity.
All of the five board members of ERCOT who are resigning live outside the state of Texas.
ERCOT manages the flow of electric power to more than 26 million Texas customers — representing about 90 percent of the state’s electric load. As the independent system operator for the region, ERCOT schedules power on an electric grid that connects more than 46,500 miles of transmission lines and 680+ generation units. It also performs financial settlement for the competitive wholesale bulk-power market and administers retail switching for 8 million premises in competitive choice areas. ERCOT is a membership-based 501(c)(4) nonprofit corporation, governed by a board of directors and subject to oversight by the Public Utility Commission of Texas and the Texas Legislature. –ERCOT.com
That “flow of electric power” was non-existent for some Texans last week. What did Bill Magness, CEO and President of ERCOT, have to say about this? Well, The outages were a result of an “out of balance” supply and demand, you see.
“As we saw the supply get lower and the demand get higher, the rotating outages were implemented. That’s what we drill for, that’s what we prepare for.”-Bill Magness, CEO/President, ERCOT
You drill for power outages? How about drilling and preparing to not have to get to that point? How about understanding the basics of supply and demand? Did you all practice your speeches and requests in the event you had to ask Texans to boil water? And now, Board members of ERCOT-none of them who were inconvenienced or the least bit uncomfortable are going off the grid permanently. Among those leaving ERCOT are Vice-Chair, Peter Cramton, who received roughly $87,000 in compensation, worked an average of five hours a week and lives in California. Terry Bulger, another board member, resides in Illinois, logged about 8 hours weekly and received roughly $65,250 in compensation. Raymond Hepper, Sally Talberg and Vanessa Anesetti-Parra-all gone. All received roughly between $92,600 and $100,100. Incoming director, Craig Ivey, former CEO of Consolidated Edison in New York, also submitted a letter to withdraw his petition for approval as an unaffiliated director, citing concerns stakeholders recently expressed of having out-of-state directors. Ivey currently resides in Florida. How much does CEO Bill Magness command? Try about $883,264. I mean, it’s hard to have accountability when you are just a Board Member and working out-of-state and clocking in about five hours a week on your time card, right? But what about the CEO who is raking in almost a million a year? Crickets.
The outgoing ERCOT Board Members did apologize, sort of…
Our hearts go out to all Texans who have had to go without electricity, heat, and water during frigid temperatures and continue to face the tragic consequences of this emergency.”-ERCOT Board Members
Yeah. Our hearts go out to you in the tragedy of this emergency. Peace out, suckers.
Did any of them offer the return their compensation, or happen to mention why ERCOT chose profit instead of addressing the recommendations in this report following the 2011 event?https://t.co/rK5UEzoCDf
— Michael Gerdes (@michaeldgerdes) February 23, 2021
This wasn’t the first rodeo of a winter storm knocking out the grid in Texas. In fact, there were findings in a report to outline mitigation strategies after a storm in 2011. This report outlined failures of Texas’ power grid all the way back to 1989. And while the finger-pointing continues (depending on which political camp one is in), the startling fact that millions have gone without power and water for days on end, while Board Members refuse to comment aside of a blanket apology on the way out the door speaks volumes. Our hearts go out to you. They’ll throw in their “thoughts and prayers” after a hot shower whilst sipping tea by the fire.
So much for accountability and consequences. There will be a board meeting today when they will probably be given their “golden parachutes” to land wherever they do (preferably somewhere with water and electricity). They will box up their desk ferns and belongings and ride off into the sunset. Illinois, California, anywhere. Anywhere but Texas. We wait and see as the story unfolds.
ERCOT CEO likened his organization to being the “traffic cops” or the “air traffic controllers” to the Texas grid. Really? I’d say he’d better stop insulting traffic cops and air traffic controllers. In the meantime, Texans have pulled together to help each other out. In all seriousness, though, this ERCOT catastrophe was not even a near miss by their “air traffic controllers”. It was a full mid-air collision.
Photo Credit: Oran Viriyincy/FlickR/CC BY-SA 2.0/Cropped
Welcome Instapundit Readers!