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Texas PUC Approves Increase Which Nearly Doubles Compensation For ERCOT "Selected Director" Board Members
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The Texas PUC approved without modification ERCOT's request to increase the compensation for the "Selected Director" members of its board of directors
A Selected Director, as defined in the Bylaws, is a Director who is selected in accordance with PURA § 39.1513 -- i.e., a Director selected by the ERCOT board selection committee that must meet the eligibility requirements of PURA §§ 39.151(g)-(g-4), including the absence of a fiduciary duty or assets in the electricity market for the ERCOT region.
ERCOT's Selected Director compensation will now be as follows, effective July 1, 2023 (all amounts are annual):
ERCOT stated in its request that compensation levels for Directors entitled to be paid for service (at the time, "Independent Directors") were last changed by the Board at its meeting on July 17, 2012. Compensation levels have remained unchanged for almost 11 years, ERCOT said in its request
See background on the request for the increased compensation here
Docket 54444
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June 29, 2023
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Copyright 2010-23 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
Component Current New
Selected Director Base Compensation $87,000 $160,000
Board Chair (added compensation) $12,800 $35,000
Board Vice Chair (added) $7,500 $15,000
Board Committee Chair (added) $5,600 $25,000
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