Pogo Energy Goes Bankrupt as Texas Freeze Fallout Lingers

Pogo Energy, a pay-as-you-go electricity provider in Texas, filed for Chapter 11 bankruptcy on Thursday after racking up a huge power bill during Winter Storm Uri.

• Company listed assets of no more than $10m and liabilities of as much as $50m in its bankruptcy petition
• Pogo’s power invoice for February exceeded $26m, more than 30 times greater than its normal amount for that month, according to a court declaration
  • Pogo owes the money to Luminant Energy Company, the generation arm of Vistra Energy, per court papers
• The company was founded in 2017 and became cash-flow positive in ...