Griddy to Cancel Texas Power Bills If Customers Don’t Sue
- Bankruptcy plan designed to shut down company, end lawsuits
- Judge says power retailer ‘may have done something wrong’
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Griddy Energy LLC has one final deal for Texans before the power seller shuts down for good: if its 29,000 former customers agree not to sue, the company will cancel electric bills that were about 300 times normal amid last month’s winter storm.
On its first day in bankruptcy court, Griddy lawyers outlined a plan to liquidate, settle with customers and, possibly, arrange lawsuits against those that the company blames for its collapse. The company also won court permission to pay its remaining employees and other routine bills while the Chapter 11 case goes forward.