State power grid operator Electric Reliability Council of Texas names new CEO

Harriet Ramos
·1 min read
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Pablo Vegas will serve as the new president and CEO for the Electric Reliability Council of Texas, according to an ERCOT press release.

The Public Utility Commission of Texas approved Vegas’ selection Tuesday and he will begin his new position Oct. 1.

Vegas replaces interim CEO Brad Jones, who took over when the ERCOT board terminated former CEO Bill Magness in March 2021 after massive blackouts left millions of Texans without power during the previous month’s winter storm.

Vegas is currently the executive vice president of the Indiana-based utility company NiSource and group president of NiSource Utilities. In 2008 he served as president and chief operating officer of electric service provider AEP Texas.

According to Vegas’ contract, ERCOT will pay him a base salary of $990,000 annually, and he will be eligible for short-term and long-term incentive payments if he reaches certain key performance indicators.

ERCOT manages Texas’ electric power grid, the Texas Interconnection, which supplies power for more than 26 million customers across most of the state.

“This is a once-in-a-lifetime opportunity to lead an exceptional organization of people and make a positive impact on millions of Texans,” Vegas said in the press release.