Griddy Energy Approved to End Bankruptcy, Cancel Customer Bills

Griddy Energy LLC won court approval for a bankruptcy liquidation plan which cancels customer bills that had spiked during a winter storm in Texas earlier this year.

• “The amount of the bills were enormous,” U.S. Bankruptcy Judge Marvin Isgur said during a virtual court hearing. “But they were driven not by Griddy, but by others. I think this is the best outcome in a difficult world.”
• Isgur said he would approve Griddy’s plan, which was designed to avoid expensive litigation surrounding electric bills that were about 300 times normal ones
• Griddy’s former customers voted overwhelmingly to back the plan, Isgur ...