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Texas Utility Files For Bankruptcy After $2 1 Bn Power Bill
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Texas power company seeks bankruptcy protection after storm
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Texas power cooperative files for bankruptcy facing $2bn bill for storms
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Texas power firm Brazos Electric hit with $2.1 billion bill after freeze, files for bankruptcy
Jeremy Hill, Eduard Gismatullin and Rachel Morison, Bloomberg
March 1, 2021
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FILE - This Tuesday, Feb. 16, 2021, file photo shows power lines in Houston.David J. Phillip/Associated Press
The largest power generation and transmission cooperative in Texas filed for bankruptcy in the wake of power outages that caused an energy crisis during the winter freeze last month.
Brazos Electric Power Cooperative filed for Chapter 11 in the Texas after racking up an estimated $2.1 billion in charges over seven days of the freeze. Last year, it cost cooperative members $774 million for power for all of 2020.