Mar 4, 2021 - Energy & Environment

Texas power grid operator fires CEO following deadly outages

Bill Magness speaks with his hands in front of him

Former ERCOT CEO Bill Magness. Photo: Aaron M. Sprecher/Bloomberg via Getty Images

Electric Reliability Council of Texas CEO Bill Magness, who heads the independent nonprofit entity that operates and manages the electricity grid for much of Texas, was fired Wednesday night, the Texas Tribune reports.

Why it matters: It's the latest fallout from last month's fatal power outages after extremely low temperatures that caused multiple types of generation to fail.

What we're watching: The progression of state and federal probes underway. A House panel yesterday took one of the first steps in its investigation.

  • The environment panel of the House Oversight and Reform Committee sent ERCOT a letter demanding documents about "lack of preparation" for the recent winter storm.
  • The subcommittee also wants info about ERCOT's response and preparation for future storms.
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