Texas power grid operator ERCOT has named a new CEO

“My quick reaction is that the salary is not out of line with” the salaries of the CEOs of other power grids, said Beth Garza, ERCOT’s former independent grid monitor.

Garza told WFAA that she sees the “make-whole” payments “as the price that had to be paid to get someone to come on to the hot seat.”

“I don’t know anything about Mr. Vegas, but I wish him all the best,” Garza said. “His biggest external task will be to re-earn the confidence of regulators and politicians in the ERCOT organization. Internally, he will need to bolster the organization’s morale, ensuring they perform at the highest standards.”