As a result of the February 2021 North American ice storm, Brazos filed for
Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of Texas. Because the storm had severely disrupted energy supplies in Texas for days, leading to a dramatic rise in the price of electricity, the company said it had received invoices from the
Electric Reliability Council of Texas (ERCOT) which, when combined, amounted to over $2.1 billion. Brazos said the massive bill forced it to file for bankruptcy protection to shield itself, its member cooperatives, and consumers, from the effect of trying to meet the cost. ==Member cooperatives==