Posts Tagged ‘Largest Texas Power Coop Files for Bankruptcy’

in Charge Are Trustworthy You’re Wrong, Largest Texas Power Coop Files for Bankruptcy… The Arctic blast and severe winter storms that pounded Texas weeks ago have claimed another victim as the credit crisis widens. Texas’s largest power cooperative filed for bankruptcy protection in federal court in Houston Monday, citing a $1.8 billion bill from the state’s grid operator, ERCOT, according to Reuters.  According to court documents, Brazos Electric Power Cooperative, the largest generation and transmission co-op in the Lone Star State, filed for Chapter 11 in the U.S. Bankruptcy Court for the Southern District of Texas. The company said it could not pay a $1.8 billion bill from ERCOT stemming from a severe cold snap last month. Brazos and other utility companies who have committed to providing power to the grid were unable to during the mid-February crisis that left up to 4 million…