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Mersky

(5,272 posts)
Thu Jun 29, 2023, 09:36 AM Jun 2023

ERCOT 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. Haven’t heard of this going on til now? Yeah, same for this news hound. Well, I believe a single reporter on Houston’s local Fox station is the only coverage of this happening... possibly in the state:




Good luck finding a public notice of this occurring on ERCOT or the PUC’s website, but here’s the proposal:

https://interchange.puc.texas.gov/Documents/54444_33_1305021.PDF


Editing to add the local report:

https://www.fox26houston.com/video/1241792

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ERCOT voted to give themselves substantial raises (Original Post) Mersky Jun 2023 OP
And the bonus within that tweet Mersky Jun 2023 #1
First increase in 11 years. TwilightZone Jun 2023 #2
Considering the CEO of ERCOT & the Chair of the PUC are on the board Mersky Jun 2023 #3
Isn't that special. Does she at least live in Texas? marble falls Jun 2023 #4
So it would seem Mersky Jun 2023 #5
ERCOT is a boondoggle. marble falls Jun 2023 #6
Yep. Mersky Jun 2023 #7
they fuck up in 2021 they pass the costs on to the people. Javaman Jun 2023 #8

Mersky

(5,272 posts)
1. And the bonus within that tweet
Thu Jun 29, 2023, 09:58 AM
Jun 2023

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)
2. First increase in 11 years.
Thu Jun 29, 2023, 10:16 AM
Jun 2023

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)
3. Considering the CEO of ERCOT & the Chair of the PUC are on the board
Thu Jun 29, 2023, 10:42 AM
Jun 2023

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 you’ll 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.

Mersky

(5,272 posts)
7. Yep.
Thu Jun 29, 2023, 11:15 AM
Jun 2023

One of the many anxiety-inducing institutions in ‘modern’ Texas riddled with conflicts of interest.

Javaman

(63,106 posts)
8. they fuck up in 2021 they pass the costs on to the people.
Fri Jun 30, 2023, 06:41 AM
Jun 2023

they take that huge flush of money, not to fix the system, but to give themselves raises.

this is texas in a nut shell.

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