The state grid operator effectively shut down Griddy after the retail utility company failed to make the required payment.
Griddy, which provides customers with access to wholesale pricing, gained notoriety for billing customers in the thousands of dollars when wholesale prices skyrocketed during the recent weather-related energy crisis. The Texas Electric Reliability Council, or ERCOT, has banned the California-based company from participating in the state’s electricity markets.
Griddy said Monday that he applied for emergency help from the Electric Reliability Council of Texas, or ERCOT, on Feb. 16 after the Utilities Commission demanded wholesale prices to peak at $ 9,000 per kilowatt hour, where they stayed for days.
This cost, …
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