Entrust Energy Files for Bankruptcy in Texas Amid Power Fallout

Entrust Energy Inc. became the latest power retailer to file for bankruptcy after February’s winter storm in Texas sent electricity prices soaring.

The company listed assets of $100 million to $500 million and liabilities of $50 million to $100 million, according to a Chapter 11 petition filed in the Southern District of Texas on Tuesday.

Entrust says it has a $270 million disputed claim with the Electric Reliability Council of Texas, the operator of the state’s power grid, related to supply obligations. Other claims include $1.6 million from JPMorgan Chase & Co. for a Paycheck Protection Program loan.

Houston-based Entrust ...