The new CEO of ERCOT will be well-paid. Yesterday, the agency's board announced Pablo Vegas, an Ohio utility executive has been hired for the job. Vegas will receive an annual salary of $990,000, per his contract approved by ERCOT and the Public Utility Commission. In addition, he'll be paid a one-time bonus of nearly $250,000 at the end the year, and half-a-million-dollars in relocation assistance. ERCOT will also pay Vegas more than six-million-dollars over six years to make up for what his former employer would have paid him. Pablo assumes his new position on October 1st.