Chairman Mike Greene taps independent board member Mike Espinosa to head up committee to investigate alleged irregularities within ERCOT.

Austin – Today during its monthly board of directors meeting, Mike Greene, chairman of the Electric Reliability Council of Texas, Inc. (ERCOT), appointed a special committee to look into recent allegations of irregularities within the organization. The move by Greene was confirmed by the full board, and the members of the committee were announced:

Mike Espinosa, chairman of the special committee; ERCOT independent board member
Bob Kahn, ERCOT municipal utilities segment board member
David Baggett, ERCOT independent board member
Mark Armentrout, ERCOT independent board member
Bob Manning, ERCOT vice chairman and commercial consumer segment board member

“The ERCOT board of directors takes these alleged irregularities very seriously, and both the board and ERCOT management are committed to cooperating fully with the Public Utility Commission of Texas and other authorities until this matter can be resolved,” said Greene. “Additionally, the committee will examine key policies, procedures, and internal controls, and will implement changes as needed.”

“The board commends the professionalism and integrity of the ERCOT staff, and in resolving these matters, we can assure the public that these alleged irregularities do not reflect on the competence or the ethics of the organization as a whole,” said Greene, referring to the recent allegations of improprieties at ERCOT. “Market operations were not affected and no market participants were involved.”

Greene also announced that an ethics hotline and website (which is being administered by a third party) has been established at ERCOT to give employees, contractors and market participants the opportunity to anonymously report any unusual or suspect activity, without fear of recrimination.