for bankruptcy in a Houston federal court Monday, citing assets and liabilities between $1 billion and $10 billion.
Severe cold weather led to widespread power outages and sky high energy rates as demand for electricity soared, with some firms, such as Brazos, having to pay a premium in order to meet their existing commitments. In court filings, Brazos said it received a $1.8 billion bill from the Electric Reliability Council of Texas , Texas’ grid operator, which it disputed.
The filing comes after Brazos’ executive vice president and general manager Clifton Karnei, who signed the court papers, was the seventh member from ERCOT’s board of directors toTexas’s free market approach to energy differs from the more common fixed-rate approach elsewhere, exposing customers to potentially volatile prices driven by supply and demand.
Republicans no doubt, they will get off reorganize and form another climate destroying company. Sure not feeling their pain.
And Ted Cruz solved it all by fleeing to Mexico when the need was greatest!
Texas’ largest & oldest electric power cooperative filed for bankruptcy protection Monday after being hit with a $1.8 billion bill from the state’s grid operator..nreca the ceo of this member owned cooperative is making 3million & also served on the ercot board. co-opFailure
Ei