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Griddy loses Texas Grid service for all its customers



Gary McWilliams | Reuters

Houston-The Texas grid operator last Friday cancelled Griddy Energy LLC’s access to the state grid and transferred all of its customers to other utilities.

Griddy is an electricity marketer that sells electricity to consumers at wholesale prices. As the cold weather hit the state last week, the price rose to $9,000/MWh within a few days. There was no immediate return request for comment. The phone number listed on its website was not connected on Friday afternoon.

The Texas Electric Reliability Commission (ERCOT) said it has transferred approximately 10,100 Griddy customers to one or more competitors starting Friday. A retail electricity supplier that does not pay within 72 hours can reassign all of its customers to other electricity suppliers.

After preparing for the severe cold, ERCOT faced criticism from residents and state officials this week. It called on public utilities to cut off electricity to protect the grid, leaving 4.3 million people without heat or light.

Seven of ERCOT’s 1

5 directors resigned this week, and one nominee resigned. The governor of Texas, Greg Abbott, stated that the public outrage was justified and accused ERCOT of not taking quicker action to prevent the generators from going offline.


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