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U.S. Bankruptcy Tracker: Brazos Bust Spotlights Texas Menace

  • Energy firms forced to buy expensive electricity during freeze
  • Last week’s seven Chapter 11s were the most since October

The first major bankruptcy from the Texas power crisis highlights growing risk in the energy sector. It followed the busiest week for large Chapter 11 filings since October.

Brazos Electric Power Cooperative filed in Texas on Monday after racking up an estimated $2.1 billion in charges following a polar vortex that left thousands without power. It’s just one of several companies rocked by a crisis that forced them to buy electricity at sky-high rates during the freeze.