Texas utility settles over sky-high energy bills from freeze

KIFI

Published August 30, 2021 2:53 PM

By TERRY WALLACE
Associated Press

The electric utility Griddy Energy has reached a settlement with Texas state officials over crushing electric bills its customers received after the deadly February winter storm and cold wave. The Texas Attorney General’s Office announced the settlement Monday, having sued Griddy after customers received bills totaling many thousands of dollars. Griddy went bankrupt and confirmed a liquidation plan that releases its customers from any outstanding bills. Griddy Energy sold power to consumers at wholesale prices plus a $9.99 monthly fee. Its rates skyrocketed during the February freeze when the state grid operators raised wholesale prices to $9,000 per megawatt-hour.

Article Topic Follows: AP National Business

Jump to comments ↓

Associated Press

BE PART OF THE CONVERSATION

KIFI Local News 8 is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.