Why does HILCO owe Brazos money if Brazos is the organization that filed for bankruptcy?
After Winter Storm Uri in February 2021, Brazos filed for bankruptcy. Pending the bankruptcy resolution, Brazos did not charge its member cooperatives, including HILCO, for most of the expenditures associated with Winter Storm Uri. The court accepted Brazos' bankruptcy exit plan in November 2022, which significantly decreased what Brazos owed ERCOT and its creditors. The amount that was owed to ERCOT did not go away but was reduced in the bankruptcy. HILCO’s portion owed to ERCOT via Brazos ended at $121 million. Before Brazos declared bankruptcy, the amount owed was $154 million.