![]() ![]() We expect this court-supervised process will provide us with the protections and mechanism to protect and preserve our assets and operations, and satisfy obligations to our creditors.” “We will prioritize what matters most to our Member cooperatives and their retail members as we, and they, work to return to normalcy. ![]() “Let me emphasize that this action by Brazos Electric was necessary to protect its Member cooperatives and their more than 1.5 million retail members from unaffordable electric bills as we continue to provide electric service throughout the court-supervised process,” said Clifton Karnei, Executive Vice President and General Manager of Brazos Electric. Supporting the orderly, fair and expeditious treatment and satisfaction of its liabilities resulting from the extreme cold weather event that severely impacted the state of Texas from February 13-19, 2021.Assisting our Member cooperatives, their retail members and their communities impacted by the historic extreme cold weather event of February 13-19, 2021 in the rebuilding effort.Delivering affordable and reliable electric service to its Member cooperatives and their retail members.Throughout the forthcoming financial restructuring process, Brazos Electric will remain committed to the following: ![]() As a cooperative whose costs are passed through to its members, and which are ultimately borne by Texas retail consumers served by its Member cooperatives, Brazos Electric determined that it cannot and will not foist this catastrophic financial event on its members and those consumers. As a result of the catastrophic failures due to the storm, Brazos Electric was presented with excessively high invoices by ERCOT for collateral and for purported cost of electric service, payment of which was required within days. Before the severe cold weather that blanketed Texas with sub-freezing temperatures February 13-19, Brazos Electric was in all respects a financially robust, stable company with a clear vision for its future and a strong “A” to “A+” credit rating. See the full member list here.īrazos Electric cites the severe winter storms as the impetus for the filing: “Before the severe cold weather… Brazos Electric was in all respects a financially robust, stable company… As a result of the catastrophic failures due to the storm, Brazos Electric was presented with excessively high invoices by ERCOT for collateral and for purported cost of electric service, payment of which was required within days.” The press release goes on to state that it “cannot and will not foist this catastrophic financial event” on power consumers.īrazos Electric initiated this financial restructuring to maintain the stability and integrity of its entire electric cooperative system. Monday’s filing begins a financial restructuring process for the co-op.īrazos Electric is the wholesale power supplier for its 16 member-owner distribution cooperatives and one municipal system, including the Brazos Valley’s Mid-South Synergy – Navasota and Navasota Valley Electric Franklin. Ford Motor Company reserves the right to modify the terms of this plan at any time.WACO, Texas (KBTX) - Brazos Electric Power Cooperative has filed for bankruptcy in a Houston federal court, citing assets and liabilities between $1 billion and $10 billion. See your Ford or Lincoln Dealer for complete details and qualifications. If you need additional information concerning the A/Z Plans, please refer back to your A/Z Plan Pricing website for complete details.Ī/X/Z Plan pricing, including A/X/Z Plan option pricing, is exclusively for eligible Ford Motor Company employees, friends and family members of eligible employees, and Ford Motor Company eligible partners. If you close your window or tab, you must re-access the site through the A/Z Plan Pricing website to ensure that all eligible plan pricing is visible. What happens if I close this site before I'm finished? Contact your local dealer to determine their level of participation in the program and final vehicle pricing. Also, some dealers may choose not to participate in A/Z Plan pricing. In addition, some vehicles, trims or options you select may not qualify for A/Z Plans. Note: A/Z Plan pricing information is not available on all Ford websites. Welcome A/Z Plan Participant Now you can view exclusive price savings on our Build & Price shopping tool. ![]()
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