The largest electricity co-operative in Texas has filed for bankruptcy protection after it received a $2.1 billion bill from the state's grid operator following last month's winter storm that left millions without power.
Texas oldest and largest generation electric co-op files for Chapter 11 Bankruptcy
MMJ5
and last updated 2021-03-01 19:10:14-05
WACO, TX â Brazos Electric Cooperative, Texas oldest and largest generation and transmission electric cooperative, filed a voluntarily petition of relief under Chapter 11 of the United States Bankruptcy code. This is a financial restructuring; this is not going to affect our operations or provision of electricity to our members at all, Executive Vice President Clifton Karnei said.
This comes after the devastating 2021 Texas winter storm.
ERCOT sent them a bill for $2.1 billion which they were expected to pay in only a few days.
The largest and oldest power cooperative in Texas is filing for Chapter 11 bankruptcy protection citing last month’s winter storm that left millions without power.
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