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The company that drew attention after sending huge electricity bills to customers after last month's blackout-causing winter storm in Texas has filed for bankruptcy protection. Griddy Energy sold power to consumers at wholesale prices plus a USD 9.99 monthly fee. Its rates skyrocketed during the February deep freeze, when state grid operators raised wholesale prices. The company blamed its situation on the Electric Reliability Council of Texas, which operates the power grid in most of the state. Griddy said ERCOT kept wholesale prices at the state's legal cap $9,000 per megawatt hour for t...

Texas Ensures Forgiveness of $29 Million in Unpaid Electric Bills After Griddy Files for Bankruptcy Texas Attorney General Ken Paxton said on Tuesday that about 24,000 former customers of Griddy Energy LLC will be released from paying $29.1 million in unpaid electric bills incurred during last month’s winter storm after the power retailer filed for bankruptcy. Paxton said his office has been negotiating with Griddy after the state filed a lawsuit against the energy company for deceptive advertising. Griddy has since filed for Chapter 11 bankruptcy after the state grid operator cut off th...

Texas Retail Power Provider Griddy Seeking Chapter 11, Says ERCOT Caused ‘Financial Devastation’ Houston-based retail electricity provider (REP) Griddy Energy LLC has filed for Chapter 11 protection in the wake of February’s Winter Storm Uri, which caused power outages along with skyrocketing electricity and natural gas prices. A proposed reorganization would provide relief to Griddy customers unable to pay their electric bills as a result of scarcity pricing imposed in the wholesale power market during the storm. Griddy on Monday blamed the Electric Reliability Council of Texas (ERCOT)...

Griddy: Texas AG says more than $29 million in unpaid electric bills will be forgiven as he sues Griddy Energy CNN 4 days ago By Keith Allen, CNN © TNS/Austin American-Statesman/Sipa USA Texas Attorney General Ken Paxton. (Photo by Nick Wagner/Austin American-Statesman/TNS/Sipa USA) The Texas attorney general says a lawsuit he filed against the energy company Griddy will keep about 24,000 Texans from having to pay $29.1 million in unpaid bills related to last month's winter storms. "My office sued Griddy Energy, under the Texas Deceptive Trade Practices Act, to hold them ...

Texas Winter Storm Victims Won't Have To Pay Millions In Electric Bills 03/17/21 AT 10:58 AM It appears Texans be forgiven millions of dollars in electric bills due to the winter storm disaster that barreled down in February, thanks to Attorney General Ken Paxton. Paxton released a statement on Tuesday saying, “My office sued Griddy Energy, under the Texas Deceptive Trade Practices Act, to hold them accountable for their escalation of last month’s winter storm disaster by debiting enormous amounts from customer accounts as Texans struggled to survive the storm.” Griddy Energy filed fo...