Millions of people across the country are calling for a minimum 15 minimum wage, with small business owners fearing that their businesses will have lunch while minimum wage workers hope for better days.
HOUSTON – Texas’ largest and oldest electric power cooperative filed a bankruptcy defense lawsuit in federal court in Houston on Monday, citing the state’s grid operator operator’s controversial 1.8 billion bill.
Brazos Electric Power Cooperative Inc. is one of dozens of electricity providers facing heavy costs arising from the cold snap last month. Officials said the result threatens utilities and power marketers who collectively face billions of dollars in blackout-related costs.
Unusually annoying temperatures knocked out nearly half of the state’s power plants in mid-February, causing 3. million people to burst water pipes for days, damaging homes and businesses without heat and light. Brazzos and others who are committed to providing electricity to the grid and have not been able to do so will have to purchase replacement power at the lowest possible rate and cover the unpaid fees of other companies.
The Texas Power Market can shorten a નું 2.1 bill after a free payment
The state’s grid operator operator, Electric Reliability Council Texas F. Texas (ERCOT) said Friday that પ્રારંભ 2.1 billion had not been paid in the initial bill, indicating financial strain on utilities and power marketers. More providers will reject the bill in the coming days, officials said.
“The municipal power sector is a real crisis,” said Moulin Patani, founder of Volt electricity provider LP, an independent electricity marketer who is not a member of the Brazos coupe. Ircot should suspend service charges to prevent further defaults, he said in an interview on Sunday.
File – This Tuesday, February 16, 2021 file photo shows the power line in Houston. On Friday, February 19, 2021, the Associated Press reported on stories circulating online about cooling wind turbines in cold climates.
In the city of Denton, North Texas, Earkot sued last week in a state government court to stop him from being charged for fees paid by other users of the grid. Denton Electric could face tens of millions of dollars in fees, the lawsuit claims.
Debt analyst Fitch Ratings last week also warned of a possible downgrade to all Texas municipal power companies that use state grids. The cost of the storm “could exceed the liquidity immediately available to these issuers,” Fitch said.
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The squeeze began when ERCOT pushed the spot-market every four megawatts per hour (MWh) for more than four days and imposed huge fees for services. According to industry officials, the service fee was 500 times the normal rate.
Clifton Carnei, executive of Brazos Electric Coop, who sat on the board of directors of ERCOT until last week, signed the bankruptcy submissions of Brazos Coop. Through members of its 16 utility companies, Brazzos provides electricity to more than 660,000 customers in the state of Texas.
