Brazos Electric Power Cooperative, Inc. According to its website, the WACO-based company is “the largest and oldest power generation and transmission cooperative in Texas, serving 16 distribution member cooperatives serving more than 1.5 million Texans. Some Heavily Affected Retailers and Cooperatives Have Reached Bankruptcy Court. Brazos Electric Power Cooperative Inc.
are trying to restructure, while Brilliant Energy LLC went straight to Chapter 7 liquidation. Griddy Energy, the Texan energy provider that encouraged customers to leave service during recent snowstorms, has become the third energy company in the state to file for bankruptcy as a result of grid outage. Griddy Energy, the Texas electricity provider accused of charging its customers thousands of dollars during winter storm Uri, said Monday it filed for bankruptcy. After the Arctic explosion that caused blackouts for millions of residents and almost completely knocked down Texas' electricity system, the state's competitive electricity market has become the target of criticism.
After days of spooky cold that left millions without power and caused water pipes to explode in oil-rich Texas, temperatures were forecast to be well above freezing on Friday in much of the Lone Star State and rise to 50 degrees Fahrenheit (10 to 15 degrees Celsius) during the end Paxton previously sued Griddy on March 1, accusing the retailer of price increases under the Texas Deceptive Business Practices Act. It will be felt in Texas, in the licensed entities that provide electricity, and in the businesses and residents of Texas they serve, said Catherine Webking, attorney for the Texas Energy Association for Marketers, on March 22 in a renewed request for the PUC to force ERCOT to revalue transactions. in real time. during a 32-hour window during the storm.
Just Energy, a Canadian company, also filed for bankruptcy in Texas after recently completing a recapitalization. Most Texas customers were protected from rising prices because they paid a fixed rate for electricity, although they could see prices rise in the near future to offset additional costs incurred by electric companies. Denton Electric Could Face Tens of Millions of Dollars for Charges Not Charged to Others, Lawsuit Says. As Texas energy regulators and legislators fight divisive pleas to undo billions of dollars in supposedly inflated and sky-high electricity prices charged during February's devastating winter storm, another competitive retail electricity provider has called it quits.
Last week, it was reported that Griddy customers were moved to other energy providers after Griddy was recalled from the Texas market. Texas Attorney General Ken Paxton said in a statement that Griddy and his office are “engaged in ongoing good faith negotiations to try to address additional relief for those Griddy customers who have already paid their storm-related energy bills. While these companies used more traditional utility company practices, they have had the same experience of the crisis. The Texas Senate swiftly approved a bill Monday that would direct the PUC to review erroneously billed prices during the 32-hour period.
The Texas Electrical Reliability Council (ERCOT) regulates power generation and management in the state. But the Texas Energy Reliability Council was going to lower prices back to market prices the next day, according to an independent market monitor. .