Power grid officials reverse plan to give ERCOT CEO $6.4 million compensation package, Dan Patrick says - KSAT

The reversal came fast. ERCOT's board and the PUC, which regulates the state's power grid, had both signed off on the extension during ERCOT's regular board meeting. Patrick said on social media that he called the chairs of both agencies and told them to "immediately reverse their action." He said they did it right away.

Vegas confirmed to The Texas Tribune that the contract will not be executed. He said he'll keep working under his current employment agreement instead. No new terms have been announced.

This matters to anyone in Texas who flips a light switch, which means it matters here too. ERCOT runs the grid that kept Lubbock and most of the state powered, or not powered, through past winter storms and summer heat waves. A fight over how much its top executive gets paid is really a fight over who controls decisions that affect every electric bill in the state.

A six-figure sum turned into a public standoff in less than a day. Board members approved millions, a lieutenant governor picked up the phone, and the whole thing got undone before most people even heard it happened.