Monday, February 26, 2024

CoServ’s primary electricity provider files for bankruptcy

Photo courtesy of CoServ

Brazos Electric Power Cooperative — CoServ Electric’s primary wholesale electricity provider — announced Monday that it has filed for Chapter 11 bankruptcy protection.

Brazos’ bankruptcy filing is not expected to affect the delivery of electricity to CoServ customers, CoServ said in a news release Monday. CoServ does not anticipate any immediate or short-term changes to the wholesale rates or the overall cost of the electricity it provides to its customers.

As CoServ and other utilities have stated, the longer-term impacts of the recent severe weather are still being assessed.

“We also pledge to remain transparent and responsive to our members and customers and to communicate about CoServ’s ongoing efforts to manage market volatility,” CoServ said in the news release.

Mark Smith
Mark Smith
Mark Smith is the Digital Editor of The Cross Timbers Gazette.

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