Texas Power Co. Opens Ch. 11 Aiming To Seek Legislative Fix

Law360 (March 3, 2021, 7:28 PM EST) -- Texas power cooperative Brazos Electric told a bankruptcy judge Wednesday that it has retained one of the state's top lobbyists to pursue a legislative resolution to the billions of dollars in liabilities owed by Texas power companies in the aftermath of February's devastating winter storm.

During the company's initial court appearance in its Chapter 11 case, Brazos attorney Louis R. Strubeck Jr. of Norton Rose Fulbright said the debtor is not the only electricity generator in Texas that is dealing with sky-high fees resulting from the "black swan" winter weather event, as state regulatory bodies have assessed $55 billion in fees...

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