Brazos Electric Power Cooperative Inc. requested the US Bankruptcy Judge David Jones for a court ruling. This concerns the pricing mechanism used by Texas' electric operator during a snowstorm in Texas. Millions of people lost power.
Brazos Electric's reorganization plan
Brazos Electric, organized in 1941, is the first electric cooperative formed in Texas. Furthermore, it provides services across 68 countries to generate and supply electrical power.
In February, the majority of the state's power plants shut down due to the low temperatures. Over 4.3 million people's homes and workplaces lost power.
Meanwhile, firms assigned to provide power, including Brazos, were unable to. This led the company to purchase expensive replacement power and pay for others' unpaid fees.