All sectors / Energy & power / Griddy
Houston, Texas, United States
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Griddy was a Texas-based electricity retailer that provided customers direct access to wholesale energy prices for a $9.99 monthly fee. Unlike traditional providers, Griddy’s pricing fluctuated in real-time based on market rates. However, during the February 2021 Texas winter storm, extreme power demand caused wholesale prices to hit $9,000 per megawatt-hour, leaving customers with massive bills—some exceeding $5,000 in days. The company advised customers to switch providers, but ERCOT ultimately revoked its grid access due to nonpayment. Shortly after, the Texas Attorney General sued Griddy for deceptive business practices. Facing financial and legal pressures, the company filed for bankruptcy in March 2021. By August 2021, a settlement was reached, relieving customers of unpaid storm-related bills. Griddy ceased operations, and its website is no longer active. Its collapse highlighted the risks of variable-rate electricity plans in volatile market conditions.
Gregory L. Craig
Operating since 2017
200 Members
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