What does it mean when an electric company says they are going bankrupt?
What does it mean when an electric company says they are going bankrupt? Tim Cella used to work at several law firms You might hear in the news that your electric company is going bankrupt. It's a scary word, but what does it mean for you and your bills? The short answer is you will still have to pay your bill regardless if the electric company files for bankruptcy. Electric companies have been providing electricity for a long time. For the most part, it's been reliable and, despite rate hikes from time to time, affordable. But some of these companies are in serious financial trouble. Some are even filing for bankruptcy! What does that mean for you? When your electric utility says it is going bankrupt, this does not this mean that you are in danger of losing power The lights will not be turned off. Are you likely to have an outage or even a blackout? In some cases, yes. But mostly not. The bankruptcy declaration is not a sign that the company will be shutting down all its ope...