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Two Men Who Saw the Storm Coming and Sold Their Electric Companies Before Disaster Hit Ambit's Jere Thompson and Stream's Rob Snyder determined the system was set up to fail. By Matt Goodman Published in FrontBurner February 26, 2021 10:41 am State lawmakers in Austin spent all of Thursday grilling the people responsible for keeping the power on in Texas. They want to know where and how the system broke down last week. But it really isn’t all that hard to figure out. Two former CEOs in Dallas saw this coming years ago, which is why they sold their companies. They’d separately come to the...

Griddy customers face $5,000 electric bills for 5 freezing days in Texas In our deregulated market, Griddy and some other power suppliers charge customers wholesale variable rates. Those plans are relatively new — and left customers frustrated after the storm. DeAndré Upshaw shows a $5,000 bill from Griddy on his cellphone for his 900-square-foot apartment in Dallas on Friday.(Lola Gomez / Staff Photographer) Some Texans are facing yet another crisis: how to pay enormous electric bills. The Texas power supplier Griddy, which sells unusual plans with prices tied to the spot price of powe...