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Houston Chronicle: Electric Co-Op Would Shed Hundreds of Millions Owed to ERCOT from 2021 Winter Storm in Bankruptcy Plan

September 10, 2022

A final plan for Brazos Electric Power Cooperative’s Chapter 11 case is expected to be filed within days. Brazos, Texas’ oldest and largest electric cooperative, filed for bankruptcy in March 2021 after receiving US$1.9 billion in wholesale power bills following the February 2021 Texas storm. “We believe we have an agreement in principle with all the major stakeholders,” said O’Melveny partner Lou Strubeck, counsel to Brazos. “There will be some final adjustments, but we believe we will have a plan in front of the judge next week for him to approve and will allow us to start moving forward.”

Houston Chronicle subscribers can read the full article here.