Texas
Related: About this forumERCOT voted to give themselves substantial raises
Last edited Thu Jun 29, 2023, 11:00 AM - Edit history (1)
Because ya know, got get it in now before the blackouts begin.
The PUC votes on whether to give it to them today. Havent heard of this going on til now? Yeah, same for this news hound. Well, I believe a single reporter on Houstons local Fox station is the only coverage of this happening... possibly in the state:
Link to tweet
Good luck finding a public notice of this occurring on ERCOT or the PUCs website, but heres the proposal:
https://interchange.puc.texas.gov/Documents/54444_33_1305021.PDF
Editing to add the local report:
https://www.fox26houston.com/video/1241792
Mersky
(5,272 posts)is the appointing of a tRump official to the ERCOT board. ETTD and so should her career in matters of public trust.
TwilightZone
(28,833 posts)There's a solid argument to be made that the increases are too substantial, but it sounds like some kind of reasonable increase was probably due.
Reading further into the proposal, it was provided by a third-party compensation consultant (Meridian) and approved by the Human Resources committee, per the ERCOT by-laws. Complaining that they "gave themselves a raise" seems a little silly when that's what the bylaws require. Context can be useful.
As an aside, it appears that only the director and chairs/vice-chairs get compensated, though I haven't been able to confirm. The proposal includes the relevant bylaws which only indicate that the director/chair are paid.
Breakdown of the increases (old/new):
Selected Director Base Compensation $87,000 / $160,000
Board Chair $12,800 / $35,000
Board Vice Chair $7,500 / $15,000
Board Committee Chair $5,600 / $25,000
Mersky
(5,272 posts)with a $990k base pay and $201k, respectively, I agree context matters. Add to that the chair of ERCOT is a billionaire and republican mega-donor, and youll start to see why some peon like me is interested in more transparency.
And ha, would I like to see their compensation changes require action on the part of our esteemed lege? You betcha.
marble falls
(62,063 posts)Mersky
(5,272 posts)Prof at Rice, so there is that.
marble falls
(62,063 posts)One of the many anxiety-inducing institutions in modern Texas riddled with conflicts of interest.
Javaman
(63,106 posts)they take that huge flush of money, not to fix the system, but to give themselves raises.
this is texas in a nut shell.