Grid Energy’s customers were further alarmed this week when they received notice from the U.S. Bankruptcy Court that their class action lawsuit had been dismissed.
But Tuesday’s order, signed by U.S. bankruptcy judge Marvin Isur, is not the end of the effort to recover some of the huge electricity bills Gridy paid in Texas during the February arrest.
“Class action is going nowhere.”
Gridy, who filed for bankruptcy in March, had no assets to pay to creditors and bankruptcy administration. Legal fees in the case reached $ 3.5 million.
But Gridy’s former customers and other lenders can still claim losses from natural gas and energy companies that have collected wind turbines during the week of rising electricity prices in February.
Pots’ Houston-based law firm has been sued by bankruptcy court to pursue other lawsuits.
“Our role has changed. While we are still trying to raise money for lenders, we are now making a loss. ”
As cold temperatures hit the state, prices pushed up to $ 9,000 per megawatt per hour, and Grid customers became the most likely poster children for Texas Electric. That price is about $ 25 to $ 30 per megawatt. Residential and small business customers pay hundreds and thousands of dollars in electricity bills a week. Some 24,000 customers paid more than $ 29 million a week for electricity.
Attorney General Ken Paxston has agreed to drop charges of fraudulent business practices on Gridy in exchange for the electricity supplier’s agreement to eliminate $ 29 million in debts owed by his former clients. Gridy agreed not to collect unpaid bills or to make credit reports that hurt customers.
Hurricane Grid Client Candice Swanson is registered to receive notifications in Grid Grant. She was shocked by the dismissal of the class action that did not come with an explanation. But now she is happy that she can move forward with other companies involved in the power grid failure.
That week in February, Swanson Thermostat kept the thermostat at 55 degrees because power outages and shutdowns pose a risk of cooling others in their homes. The Texas Department of Health estimates that 210 people have died as a result of sub-zero temperatures.
Swanson’s electricity bill for the week, even with gas heating, was over $ 1,100.
“I don’t want to use it alone,” she said. “Someone missed the price increase.”
Twitter: @MariaHalkias @maringwolf