TEXAS

Texas Energy Provider Files For Bankruptcy

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A Texas electricity provider is heading for bankruptcy after last month’s brutal winter storms.

Griddy Energy announced Monday it filed for Chapter 11, blaming the Electric Reliability Council of Texas for destroying its business and causing “financial harm” to customers. The storms brought record-freezing temperatures to Texas and caused power outages for millions.

Griddy noted some customers had to pay 300 times more than the normal price during the storms. A number of customers reported bills in the six-to-ten-thousand dollar range.

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