Texas Startup Letting Homeowners Buy Wholesale Power Gets Funding to Expand
- Griddy Energy gives direct access to real-time price swings
- Investment will allow company to expand to New York, beyond
Photographer: Steve Hockstein/Bloomberg
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Power giant Electricite de France SA took an equity stake in Griddy Energy LLC, a Texas-based supplier that lets homeowners buy electricity at real-time wholesale prices.
The investment from EDF will allow Griddy to expand beyond Texas into New York and the grid stretching across 13 states from New Jersey to Illinois, Chief Executive Officer Greg Craig said in an interview. The company did not disclose the size of EDF’s stake.