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Texas Power Firm Hit With $2.1 Billion Bill Files for Bankruptcy

  • Brazos Electric Power Cooperative filed Chapter 11 in Texas
  • Freeze led to seven-day bill for nearly triple total 2020 cost
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Bloomberg Green: Climate Lessons of the Texas Freeze
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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 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.