Texas power grid operator ERCOT fires CEO after deadly blackouts

The main Fox Business Flash titles are here. Check out what FoxBusiness.com is clicking.

Texas power grid operator ousted chief executive Bill Magness on Wednesday as fallout continues from a deadly blackout last month that left residents without heating, electricity or water for days.

His departure followed fierce criticism from state lawmakers of the crisis management by the Electric Reliability Council of Texas (ERCOT), which led a large electricity supplier to seek bankruptcy and approach many others.

GET THE FOX BUSINESS ON THE GO BY CLICKING HERE

The mid-February storm temporarily knocked out up to half of the state’s power plants, causing outages that killed dozens and pushed energy prices to 10 times the normal rate.

“ERCOT’s decision to oust CEO Bill Magness …

Read More