Texas Power Cooperative Files For Bankruptcy ...Middle East

OILPRICE - Economy
Texas Power Cooperative Files For Bankruptcy
source : OILPRICE ( Middle East ) () 12
Brazos Electric Power Cooperative Inc., a power supplier in Texas, has filed for bankruptcy protection in the wake of the energy crisis brought on the state by an Arctic weather spell last month. Reuters reports that the power cooperative was forced to file for Chapter 11 protection because of a $1.8 billion bill that the state’s grid operator presented it. The inflated invoice amount was due to Brazos’ failure to supply contracted volumes of electricity. The Texas grid operator, ERCOT, said electricity providers had amassed a total…

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