https://www.cbsnews.com/news/brazos-...kruptcy-texas/
Prior to the freeze, Brazos was "a financially robust, stable company with a clear vision for its future and a strong "A" to "A+" credit rating," higher than most electric coops, it said in a press release Monday.
The came a $2.1 billion bill
Brazos said it received "excessively high invoices" from the Electric Reliability Council of Texas for collateral and for purported cost of electric service. The invoices, totaling $2.1 billion, were required to be paid within days. That's because as a cooperative, Brazos' costs are passed through to its members and retail consumers served by its members.
Brazos decided that "it cannot and will not foist this catastrophic financial event on its members and those consumers," the co-op said.
Not freezing to death 2021's twist on American medical bankruptcy.