Texas utility files for bankruptcy after $2.1 billion power bill
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.
Bitterly cold weather in mid-February left millions without electricity across Texas as the Arctic conditions overwhelmed local utility companies ill-prepared for such weather.
Brazos Electric Power Cooperative, which supplies 16 co-op members serving more than 1.5 million Texans, said it filed for Chapter 11 bankruptcy on Monday after receiving “excessively high invoices” from the state grid operator Electric Reliability Council of Texas (ERCOT).
