HOUSTON (CBSDFW.COM) – Wholesale electricity provider, Griddy, already banned from operating in Texas following February’s winter storms, filed for bankruptcy on Monday, March 15.
Wholesale electricity prices surged during the record-cold weather.READ MORE: Small Business Saturday Offers North Texans Another Day Of Deals And StealsPavelski Reaches 400 Career Goals As Stars Beat Avalanche 3-1
Griddy said it owes more than $29 million to ERCOT for power used last month.
Griddy lawyer Derek Potts released the following statement on the bankruptcy filing:MORE NEWS: TCU Falls 48-14 To Iowa State
“Griddy’s lawyers filed for bankruptcy in federal court in Houston today, minutes before our scheduled court hearing on injunctive relief on behalf of the company’s former customers. This action by no means ends our fight to recover the tens of millions of dollars debited from Texans’ financial accounts during the storm, and to erase the negative reports made to credit agencies. We will continue to represent the class throughout the bankruptcy proceeding, protecting all Griddy customers and seeking to recover the funds that were taken from them.”