Representatives for Griddy didn’t respond to requests for comment on Sunday.<\/p>\n
The Electric Reliability Council of Texas, which operates the state’s grid, revoked Griddy’s operating rights and transferred its customers elsewhere last month after it defaulted on required payments.<\/p>\n
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In a message to customers after Ercot’s decision, Griddy said, “we have always been transparent and customer-centric at every step. We wanted to continue to fight for our members to get relief and that hasn’t changed.”<\/p>\n
In that message, the company also said it was hopeful that state and federal governments would “provide relief for all Texans” and that it was committed to providing credit for any relief we receive back to our customers on a dollar-for-dollar basis."<\/p>\n
Ercot said Thursday that it was short nearly $3.1 billion in required payments from market participants, including more than $29 million from Griddy.<\/p>\n
TEXAS RESIDENT HAS NEARLY $17,000 DEDUCTED FROM BANK ACCOUNT BY ENERGY COMPANY FOLLOWING WINTER STORM<\/strong><\/p>\n The Texas attorney general is suing Griddy, saying it engaged in deceptive trade practices by issuing excessive bills “with little to no warning” and auto-debiting customer accounts, despite advertising itself as a better option for customers than traditional retailers. A Griddy customer said in a proposed class-action lawsuit last month that her bill, typically between $200 to $250 a month, rose in February to $10,995.<\/p>\n Griddy is being advised on its planned liquidation by law firm Baker Botts LLP, people familiar with the matter said. As part of the bankruptcy process, Griddy plans to waive certain customer charges associated with the winter storm, a person familiar with the matter said. A Baker Botts representative didn’t respond to a request for comment on Sunday.<\/p>\n Griddy has previously said it notified customers before the worst of the weather event that they might be better off switching providers for a short time to avoid exposure to wholesale prices.<\/p>\n The grid operator has issued invoices for power purchased at elevated rates during the winter storm by municipal utilities, electric cooperatives and electricity retailers, which are now trying to figure out how to pass on the costs and in some cases disputing the calculations. So far, invoices from the grid operator have caused two major bankruptcy filings, by energy cooperative Brazos Electric Power Cooperative Inc. and retailer Just Energy Group Inc.<\/p>\n