Navasota, TX – March 1, 2021
Brazos Electric Power Cooperative Inc. announced it has filed for Chapter 11 bankruptcy protection due in part to the extreme weather conditions that caused unexpected financial obligations. Brazos initiated this financial restructuring to maintain the stability and protect the integrity of its entire system.
Brazos is the primary wholesale electricity provider for MidSouth Electric Cooperative. This Brazos bankruptcy filing is not expected to affect the delivery of electricity to MidSouth members, nor do we anticipate any immediate or short-term changes to the wholesale rates or the overall cost of the electricity we provide to our members as stated in our February 23 press release.
The reliable delivery of electricity for MidSouth members is expected to remain as normal. We do not expect short-term changes to rates or the wholesale power cost adjustment (WPCA). The long-term impacts caused by the arctic weather are still being assessed and we will continue to use every tool available to mitigate the impact to the members we serve. MidSouth is committed to communicating the facts to our members and will be transparent with information and updates.
The focus of MidSouth has been, and will continue to be, providing reliable essential services to the community we serve at the lowest price possible. The performance of MidSouth and its employees during this unprecedented weather event is nothing short of exceptional and we appreciate the words of affirmation from our members.