Houston Chronicle by Rebecca Carballo 3/15/2021
Griddy Energy, a California-based retail power company, filed for bankruptcy on Monday citing financial woes brought on by the power crisis in February.
Griddy’s business model exposes consumers to the wholesale market, which in normal times could mean savings, but when the grid crashed many customers were with bills in the thousands of dollars.
The company owes more than $33 million to creditors — with the bulk of the money owed to Electric Reliability Council of Texas, or ERCOT, the state’s grid manager to tune of $29 million.
More:
https://www.houstonchronicle.com/business/energy/article/Griddy-declares-bankruptcy-16027159.php
