COMES NOW, 174 Power Global Retail Texas, LLC dba Chariot Energy (“Chariot Energy”) and requests that the Public Utility Commission (“Commission’) order the Electric Reliability Council ofTexas (“ERCOT”) to waive Section 9.6(2) ofthe Electric Reliability Council ofTexas (“ERCOT”) Nodal Protocols. Chariot Energy is requesting a waiver that is limited in time and scope to allow Chariot Energy to fully exercise its dispute resolution rights under the ERCOT Nodal Protocols without incurring the immediate, significant expenses for which ERCOT has invoiced Chariot Energy during the February 2021 Winter Weather Event. Chariot Energy has made this request of ERCOT Staff, and no response has been made. In the absence ofthe requested relief, Chariot Energy faces the prospect that it may successfully challenge its invoices, but …
Texas power firm Brazos Electric hit with $2.1 billion bill after freeze, files for bankruptcy
Jeremy Hill, Eduard Gismatullin and Rachel Morison
The largest power generation and transmission cooperative in Texas filed for bankruptcy in the wake of power outages that caused an energy crisis during the winter freeze last month.
Brazos Electric Power Cooperative filed for Chapter 11 in the Texas after racking up an estimated $2.1 billion in charges over seven days of the freeze. Last year, it cost cooperative members $774 million for power for all of 2020.
The magnitude of the charges “could not have been reasonably anticipated or modeled” and far exceeds Brazos highest liquidity levels in recent years, Executive Vice President Clifton Karnei said in a bankruptcy court declaration. The cooperative on Feb. 25 told state grid operator the Electric Reliability Council of Texas that it wouldn’t pay the $2.1 billion sum, and …