HOUSTON – Former customers of Griddy Energy are off the hook. A settlement between the Texas Attorney General and the wholesale electric provider means customers stuck with huge bills from the February freeze won’t have to pay a dime.
Griddy offered customers the wholesale electricity rate instead of a fixed rate. It left everyone with massive bills to pay when the winter storms caused the price of energy to skyrocket. In March, Attorney General Ken Paxton filed a suit against the company for “false, misleading and deceptive adverting and marketing practices.” Griddy filed for Chapter 11 bankruptcy the same month.
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The settlement, along with Griddy’s confirmed bankruptcy plan of liquidation, releases former Griddy customers from any and all outstanding balances otherwise due and owing to Griddy.
Former customers may pursue a legal claim in the bankruptcy court to recover any monies they may have already paid for the electricity they consumed during the winter storm.
