Wholesale retail electrical supplier Griddy Electric missed out on needed payments to the Electric Dependability Council of Texas (ERCOT), resulting in Griddy losing its right to run in the state while about 10,000 consumers were transitioned to other services.
” It was not an option that we made,” Griddy protected itself in a declaration published to Twitter Friday.
Griddy was among the suppliers that sent out substantial costs, stunning consumers.
Griddy discussed why the charges were so high in a February 18 blog site post, stating the Public Utility Commission of Texas (PUCT) demanded that ERCOT raise costs to $9/kWh to show deficiency of supply throughout the storm– however then PUCT kept those high prices even after power started turning back on for Texans.
Griddy charges $10 per month to its clients.
Electric company Griddy has been prohibited since Friday from operating in the Texas market due to missed payments, and customers will be transitioned to other companies. A transmission tower supports power lines after a snow storm on February 16, 2021 in Fort Worth, Texas.
Ron Jenkins/Getty Images
Griddy’s exclusion from the market is the most current in what is becoming a huge financial fallout in Texas caused by the serious storm.
ERCOT has now chosen to break down on its unpaid bills, triggering Griddy’s shutdown in the Lone Star State.
” On the exact same day when ERCOT revealed that it had a $2.1 billion shortage, it decided to take this action against only one business that represents a small fraction of the market and that shortage,” Griddy said in its declaration Friday.
On Wednesday, ERCOT released an apology to Texans for the severe blackouts amidst mounting claims from frustrated homeowners.
Newsweek has actually connected to PUCT, ERCOT and Griddy for comment.