Latest Breaking News On - Brazos electric power cooperative inc - Page 11 : comparemela.com

Thursday, March 4, 2021 On 1 March 2021, Brazos Electric Power Cooperative, Inc. (“Brazos”) commenced a chapter 11 bankruptcy case in the United States Bankruptcy Court for the Southern District of Texas. Brazos is a Texas-based non-profit electric cooperative corporation that provides wholesale electricity to its members, which, in turn, provide retail electricity to Texas consumers.  Due to the freezing of essential electric generation and natural gas pipeline equipment during the historic winter storm that blanketed Texas in mid-February 2021 and the resulting spike in wholesale electricity prices, Brazos received approximately $2.1 billion in settlement charge invoices from the Electric Reliability Council of Texas (“ERCOT”).  These invoices, promptly issued during and immediately following the storm, required payment within a matter of days.  In a declaration accompanying the voluntary bankruptcy petition, Mr. Clifton Karnei, Brazos’ Executive Vice Presid

United statesClifton karneiDavid jonesUnited states bankruptcy courtReliability council of texasFinancing bankBrazos electric power cooperative incBrazos electric power cooperativeSouthern districtElectric reliability councilBrazo executive vice presidentGeneral managerTexas interconnectionFederal financingJudge david jonesஒன்றுபட்டது மாநிலங்களில்