HOUSTON – Griddy Energy filed for bankruptcy today, blaming its financial situation on the power crisis that rocked Texas during last month’s winter storm.
As previously reported, a $1 billion proposed class action was filed against Griddy on Feb. 22, asserting the power company engaged in unlawful price gouging.
Plaintiff Lisa Khoury, a Mont Belvieu resident, claims her electricity bill from Feb. 13 to Feb. 19 totaled $9,340, as Griddy began making withdrawals from her bank account daily. Khoury says her normal monthly bill averages between $200 and $250, and repeatedly tried to reach the company with concerns about the withdrawals but got no response, eventually placing a stop-payment order on her bank account.
Attorney Derek Potts, who is representing the plaintiffs, says Griddy filing for bankruptcy came minutes before a scheduled court hearing on injunctive relief on behalf of the company’s former customers.
"This action by no means ends our fight to recover the tens of millions of dollars debited from Texans’ financial accounts during the storm, and to erase the negative reports made to credit agencies,” Potts said. “We will continue to represent the class throughout the bankruptcy proceeding, protecting all Griddy customers and seeking to recover the funds that were taken from them.”
The lawsuit alleges violations of the Texas Deceptive Trade Practices Act.
The proposed class action is Lisa Khoury v. Griddy Energy LLC, No. 2021-10004 filed in the 133rd District Court of Harris County, Texas.