Texas utility settles over sky-high energy bills from freeze

State & Regional

FILE – Ivet Cantu, 45, points to her electricity bill from Griddy Energy on an app showing her energy cost of $3,114.27, during recent severe cold weather outside of her home in Dallas, on Friday, Feb. 19, 2021. The company that drew attention after sending huge electricity bills to customers after last month’s blackout-causing winter storm in Texas has filed for bankruptcy protection. (Ben Torres/The Dallas Morning News via AP)

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.

(Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Copyright 2021 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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