The Associated Press said that a U.S. bankruptcy judge approved the agreements that allow PPL EnergyPlus to sell the amount of power SME uses for the next month. SME has a contract with PPL EnergyPlus that runs through June 2019, and calls for SME to buy increasing amounts of power rather than paying only for what is needed.
The co-op was also reportedly able to post a $1.08 million deposit on a bill of about $500,000 a month to NorthWestern Energy, and the Western Area Power Administration agreed to sell power to SME for a month.
SME filed for bankruptcy Oct. 21, listing assets of $110.4 million and debts of $131.8 million, the article said.
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