Brazos Urges Texas Governor to Veto Winter Storm Financing Legislation

Brazos Urges Texas Governor to Veto Winter Storm Financing Legislation

Texas lawmakers passed legislation last month that authorizes several sources of financing to cover the huge bills that some electricity cooperatives and retailers, including Brazos, ran up during the freeze. It requires cooperatives that still owe money to the state grid operator Ercot to “use all means necessary” to sell 30-year securitization bonds, using the proceeds to pay their storm bills in full. “We think if those bills are signed into law, they have serious consequences for Brazos,” he said at a hearing in the U.S. Bankruptcy Court in Houston.

Source www.wsj.com Brazos also sent a letter to the governor urging him to veto the debt-financing legislation, Mr. Strubeck said Friday.

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