The Electric Reliability Council of Texas' (ERCOT) Board of Directors voted on March 4, 2021 to issue a 60-day termination notice for CEO Bill Magness.[1] In a statement, the Board of Directors state that they will "begin an immediate search for a new President and CEO.” The vote comes just weeks after the state experienced widespread power outages during an extreme cold weather event in February 2021. In addition to this news, the Chair of the Public Utility Commission of Texas (PUCT), DeAnn Walker, resigned on March 1, 2021. In her resignation letter, Walker stated that she "accepted [her] role in the situation," but that others, including the Texas Railroad Commission, ERCOT, and the legislature, should accept blame as well.

On March 4, 2021, the chairman of the House Oversight and Reform Subcommittee on the Environment, Representative Ro Khanna (D-California), sent a letter to CEO Bill Magness that requested documents regarding ERCOT's lack of winter storm preparation.[2] In his letter he stated, "The Subcommittee is concerned that the loss of electric reliability, and the resulting human suffering, deaths, and economic costs, will happen again unless ERCOT and the State of Texas confront the predicted increase in extreme weather events with adequate preparation and appropriate infrastructure."

[1] https://www.utilitydive.com/news/texas-head-utility-regulator-deann-walker-resigns-authority-ercot-blackouts/595932/

[2] https://oversight.house.gov/sites/democrats.oversight.house.gov/files/2021-03-03.Khanna%20to%20ERCOT%20re%20Winter%20Storms%20in%20Texas.pdf