El Paso businessman Paul Foster appointed to ERCOT Board Selection Committee
AUSTIN, Texas (KVIA) -- Texas Governor Greg Abbott appointed El Paso businessman Paul Foster to the Electric Reliability Council of Texas (ERCOT) Board Selection Committee.
Foster's term will expire "expire at the pleasure of the Governor," Abbott's office explained Monday.
ERCOT is the major grid operator that controls about 90% of the state’s electric load, not including El Paso. In February 2021, a massive winter storm caused rolling power outages across the ERCOT grid.
Foster is a former chairman of the ERCOT Board of Directors, UT/Texas A&M Investment Management Company, and UT System Board of Regents. He also served as a member of the UT System University Lands Advisory Board, Texas Higher Education Coordinating Board, Texas Economic Development Corporation Board of Directors, and the Federal Reserve Bank of Dallas El Paso Branch.
In addition to Foster's work serving on statewide boards, he is the founder and CEO of Franklin Mountain Investments and Franklin Mountain Energy. He has bought and renovated a large number of buildings in downtown El Paso. He also previously served as executive chairman of Western Refining, Inc.
Right now, Foster is the director of WestStar Bank and serves on the Texas Parks and Wildlife Commission, Baylor College of Medicine Board of Trustees, Borderplex Alliance Executive Committee, and the World Presidents Organization.
