Chapter 11

The group considered Texas’ oldest and largest electricity cooperative has filed for Chapter 11 bankruptcy protection, saying it can’t pay money wanted by the state’s grid operator in connection with power outages during a major winter storm that hit in February. Brazos Electric Power Cooperative filed its bankruptcy petition March 1 in the U.S. Bankruptcy […]

Pacific Gas & Electric (PG&E) reportedly will soon file a restructuring plan that includes more than $14 billion in equity commitments, as the utility looks to recover from billions of dollars in liabilities tied to its role in California wildfires that caused the company to file the largest utility bankruptcy in U.S. history. Bloomberg on […]

California utility Pacific Gas & Electric (PG&E) has asked the judge overseeing its bankruptcy case to support restructured deals with some of the utility’s power suppliers in an effort to reduce the price PG&E pays for those companies’ electricity. The fate of $42 billion worth of long-term power purchase agreements (PPAs) is a key component […]

California utility Pacific Gas and Electric (PG&E) filed for Chapter 11 bankruptcy on Jan. 29, as the company faces as much as $30 billion in potential liabilities for its role in a series of wildfires in the state. The filing was expected after the company notified its workers two weeks ago it was preparing a […]

California utility PG&E Corp. on Jan. 14 gave its workers the state-required 15-day advance notice of its intent to file a Chapter 11 bankruptcy. The company on Monday said its electric and natural gas service to customers should not be impacted during its reorganization, which comes as PG&E faces billions of dollars in liabilities related […]

Under a proposed restructuring agreement, NRG Energy will hand over 100% equity of GenOn Energy, a wholesale generation company it acquired in a $1.7 billion deal in 2012, to the company’s bondholders once GenOn emerges from voluntary Chapter 11 restructuring. NRG, GenOn, and an ad hoc group of GenOn noteholders reached a mutual cooperation agreement […]

The impact of Westinghouse Electric Co.’s March 29 bankruptcy filing will be felt throughout the U.S. nuclear power industry, accord to an April 19 report released by the Congressional Research Service (CRS). “The bankruptcy filing raised fundamental questions about the future of the U.S. nuclear power industry, and particularly whether four new reactors that Westinghouse […]

Homer City Generation, operator of a three-unit, 1,884-MW coal-fired generating station about 45 miles northeast of Pittsburgh, Pa., has initiated a voluntary, pre-packaged Chapter 11 case in the U.S. Bankruptcy Court for the District of Delaware. The financial restructuring process is expected to eliminate more than $600 million in existing secured debt from Homer City’s […]