$1B Class-Action Suit Filed Against Texas Wholesale Electricity Provider, Griddy

By Reese Oxner, The Texas Tribune | February 23, 2021

  • February 24, 2021 at 8:34 am
    Texas says:
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    Texans: We want unregulated free market capitalism!
    Energy Company: *$9000 weekly energy bill
    Texans: Oh no, I didn’t mean it like that… HIRE THE LAWYERS!

    • February 24, 2021 at 9:46 am
      Rosenblatt says:
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      Texans: We want unregulated free market capitalism!
      Energy Company: Okay, so no tie-in to the National Grid for 90% of our residents as a back-up
      Texans: Okay, so long as the Fed isn’t involved, I’m happy!
      (system fails, no back-up exists, people lose power)
      Texans: Why isn’t the Fed involved and we have no back-up? HIRE THE LAWYERS!!

      • February 24, 2021 at 1:26 pm
        Placement Guru says:
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        Texans: For a membership fee, I can get my electricity cheaper than what the utility company will charge me? Sign me up!
        Utility Company: OK, but the Terms of Use says that prices can fluctuate based on the market price.
        Texans: I never read that. I just clicked “ACCEPT”.

  • February 24, 2021 at 1:34 pm
    reality bites says:
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    Griddy McGridface. What a travesty.

  • February 25, 2021 at 11:47 am
    TxLady says:
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    Griddy charges a monthly fee to let you get access to the wholesale price of electricity. They do NOT sell you electricity, they give you this access. They warned all customers on the 11th to move their account. People were told prices may spike. Move. Not everyone listened. Yes, you can move your account in TX to a fixed rate company. Some will switch you that very day. Then prices spiked and this was the result. The Griddy customers knew what the game was. Some days you may get free electricity or money back if the price goes negative, and other days you may pay. Do you feel lucky? That’s how Griddy works. They did not price gouge, they get $9.99 a month per customer. This happened one day in the summer, too and Griddy customers had a few hours of multihundreds of charges for their power. Hard lesson to learn. Griddy warned you, you chose to not listen and rolled the dice. Sometimes you lose.

  • February 25, 2021 at 1:19 pm
    Boonedoggle says:
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    What is the issue here? Under free market capitalism everyone should have the right to make WRONG decisions?

    • February 25, 2021 at 3:55 pm
      Rosenblatt says:
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      I presume her argument is “I didn’t read the contract and I didn’t read or understand their emails prior to the event occurring”. I guess?



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