It is reported that the cold wave in mid-February paralyzed nearly half of the state's power plants, and Brazuiz and other power companies unable to perform power supply were forced to buy alternative power at high prices to supply power to the power grid, resulting in 4.3 million people losing power for several days, water pipes bursting, and many families and enterprises suffering losses. During this period, Brothers Electric Power Co., Ltd. and other power suppliers were asked to buy alternative power at high prices and pay other related expenses, resulting in high debts. Clifton, Executive Vice President of Brothers? Carn said the company had no choice but to file for bankruptcy. ?
Lassauce Power Cooperative Company is one of dozens of power suppliers in Texas, providing power to more than 660,000 users in the state. But last month, it faced a huge cost deficit due to the severe snowstorm. In mid-February, 20021year, the unusually cold weather destroyed nearly half of the power plants in Texas, causing 4.3 million people to lose power and heat for several days, the water pipes burst, and many families and enterprises suffered losses.
In order to cope with the power shortage, many local power companies, including Blazouez, buy alternative power at high prices to make up for the shortage, but people can't afford it? Sky-high electricity bill? The deficit of power companies gradually expanded until bankruptcy and liquidation.
Blazouez said that it received an excessive bill from the Texas Electric Reliability Commission (ERCOT) and was asked to complete the payment within a few days. The company was overwhelmed and finally decided to apply for bankruptcy protection.
According to American energy analysts, Blazouez's bankruptcy filing may open? Pandora's box in the post-storm period.
It is reported that not only Blazouez company, but also other power companies that can't supply power normally are also required to buy alternative power at a high price. Fox News reported that after the cold wave, these power companies faced billions of dollars in huge expenses.