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Texas power company seeks bankruptcy protection after storm

FILE - This Tuesday, Feb. 16, 2021, file photo shows power lines in Houston. When an unusually...
FILE - This Tuesday, Feb. 16, 2021, file photo shows power lines in Houston. When an unusually heavy winter storm blanketed much of Texas with snow, knocking out electricity to millions of homes and leaving many struggling to find clean water, one sector of the population was particularly vulnerable: inmates in Houston at the state's largest county jail. (AP Photo/David J. Phillip, File)(David J. Phillip | AP)
Published: Mar. 1, 2021 at 9:56 AM CST
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(AP) - The largest and oldest power cooperative in Texas is filing for Chapter 11 bankruptcy protection citing last month’s winter storm that left millions without power.

Brazos Electric Power, which serves 16 distribution member cooperatives that cater to more than 1.5 million Texans, said Monday that it was a “financially robust, stable company” prior to the severe cold weather that hit Texas between February 13 and February 19.

Brazos said that it received excessively high invoices from the Electric Reliability Council of Texas for collateral and for purported cost of electric service.  

Brazos says it’s decided not to pass on the ERCOT costs to its members or the consumers.

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