Texas Power Co. Griddy Files For Ch. 11 After Winter Storm

By Rick Archer (March 15, 2021, 4:01 PM EDT) -- Texas electrical supplier Griddy Energy filed for Chapter 11 protection in a Texas bankruptcy court Monday, blaming the state electrical grid manager for the pricing spikes during February's winter storm that has the company facing customer and state lawsuits.

In a press release Monday, Griddy said it will file a Chapter 11 plan releasing its former customers from unpaid electric bills and blaming grid manager the Electric Reliability Council of Texas for the pricing spikes that saw some of its customers charged hundreds or even thousands of dollars a day for electricity during the storm.

"The actions of ERCOT destroyed our...

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