AFrench2
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Texas energy company that charged huge electric bills during storm files for bankruptcy | CNN
Griddy Energy, the Texas company that sent sky-high electricity bills to customers during the life-threatening winter storm last month, filed for Chapter 11 bankruptcy protection in the Southern District of Texas on Monday.
www.cnn.com
Griddy Energy, the Texas company that sent sky-high electricity bills to customers during the life-threatening winter storm last month, filed for Chapter 11 bankruptcy protection in the Southern District of Texas on Monday.
The company made the announcement on its website in a post that blamed the Electric Reliability Council of Texas (ERCOT), which operates the state's electric grid.
"The actions of ERCOT destroyed our business and caused financial harm to our customers," Griddy Chief Executive Officer Michael Fallquist said in a statement.
Griddy has $1 million to $10 million in estimated assets and $10 million to $50 million in estimated liabilities, the company said in the filing. Over $29 million is owed to ERCOT, the filing says.
Well bye bye Griddy.