The new appointees — Paul Foster and Carlos Aguilar — are the first two directors named by the newly empaneled ERCOT Board Selection Committee, which was created in accordance with Senate Bill 2.
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The former Board of Regents chair for the University of Texas System and the head of a company developing high-speed rail service have been named to the Electric Reliability Council of Texas board of directors.
Carlos Aguilar, left, and Paul Foster
The new appointees — Paul Foster and Carlos Aguilar — are the first two directors named by the newly empaneled ERCOT Board Selection Committee, which was created in accordance with Senate Bill 2 from the most recent legislative session. The Board Selection Committee announced the selection on October 11, and simultaneously designated Mr. Foster as the Chair of the ERCOT board.
Mr. Foster and Mr. Aguilar will serve alongside the Public Utility Commission chair, the Public Counsel at the Office of Public Utility Counsel, and the CEO of ERCOT. Because of this month’s selections, the ERCOT Board now is constituted in accordance with Senate Bill 2 and is authorized to serve as its governing body.
Mr. Foster is the President of Franklin Management, LLC, and the founder and former Executive Chairman of Western Refining, Inc. He previously served as Chairman of the University of Texas System-Board of Regents, as a member of the Texas Higher Education Coordinating Board, the University of Texas System Lands Advisory Board, and the El Paso Branch of the Dallas Federal Reserve Bank. Mr. Foster holds a degree in accounting from Baylor University. 
Dr. Aguilar is President, CEO, and board member of Texas Central Partners, a Texas-based company attempting to develop a high-speed train to connect North Texas to Houston. Dr. Aguilar earned his undergraduate degree in Mechanical Engineering from Duke University and a PhD in Technological Economics from the University of Stirling in Scotland.
The remaining six board directors are expected to be named in the coming months.