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With More Utilities Going Bankrupt in Texas, Are Utility Stocks Really Safe?

With More Utilities Going Bankrupt in Texas, Are Utility Stocks Really Safe?

Earlier this month, Brazos Electric Power Cooperative filed for bankruptcy protection following the impact of recent severe winter storms in Texas. What made this filing notable was that Brazos is the largest and oldest power cooperative in the state. California-based PG&E (NYSE: PCG) filed for bankruptcy protection following a series of devastating wildfires that hit the state.