But, but deregulation is GOOD for business……

Texas Energy Co-Op Files For Bankruptcy After Storm, High Bill

The largest power cooperative in Texas filed for bankruptcy protection Monday, citing a massive bill from the state’s electricity grid operator following last month’s winter storm that left millions of residents without power for days.

Brazos Electric Power Cooperative Inc. filed for Chapter 11 in the U.S. Bankruptcy Court for the Southern District of Texas, according to court documents reviewed by NPR.

The company in court documents says it received an essentially unpayable $1.8 billion bill from the Electric Reliability Council of Texas, the entity that maintains and operates much of the state’s electricity grid.

*snip*

Brazos said in court documents that the company was in solid financial shape leading up to the late February cold storm. As February began, the idea the company would end the month preparing for bankruptcy was “unfathomable.”

In reality, deregulation is only good for the scammers, gougers, and buccaneers whose liberty to scam, gouge and exploit has long been inhibited by the watchful eye of federal regulators. This is the real reason the hinterland gentry hate the government so much, and the real reason the right wing anti-government movement exists at all. Otherwise, government power is music to their authoritarian ears.