Brazos Electric Power Cooperative Inc., the oldest and biggest generation and transmission power cooperative in Texas has filed for Chapter 11 bankruptcy protection following last months winter storm that left millions without power.
(AP Photo/LM Otero, File)The largest and oldest power cooperative in Texas is filing for bankruptcy protection, citing last month’s winter storm that left millions without power, and it is unlikely to be the last utility to seek shelter in the courts.
Brazos Electric Power Cooperative serves distributors that supply electricity to more than 1.5 million Texans in 68 counties from the Panhandle to Houston.
Brazos said Monday that it was a “financially robust, stable company” before the Arctic freeze that hit Texas between Feb. 13 and Feb. 19.
Ed Hirs, who teaches energy economics at the University of Houston, is sure there will be more power company bankruptcies.