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.
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.