Griddy Forced Into Bankruptcy by Crisis From Texas Storm (3)

Texas power retailer Griddy Energy LLC filed for bankruptcy Monday, becoming the latest casualty of the powerful cold blast and sweeping blackouts that pushed electricity prices to historic levels.

The company, which came under fire after its customers received exorbitant power bills after the outages, blamed its downfall on Texas’s grid operator, saying in a statement that power prices were kept at peak levels for far longer than needed. Griddy listed assets of up to $10 million and liabilities of up to $50 million.

The utility plans to liquidate in Chapter 11 after the Electric Reliability Council of Texas’s move ...