The largest electricity cooperative in Texas has filed for bankruptcy protection after it received a $2.1 billion bill from the state's grid operator following last month's winter storm that left millions without power.
Fallout from Texas energy crisis continues
On Location: March 2, 2021
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Texas lawmakers are looking to hold power companies and the executives who oversee them accountable for Texas recent energy catastrophe, which had deadly consequences. Millions in the state were left without heat and potable water following back-to-back winter storms.
Texas Attorney General Ken Paxton filed a lawsuit Tuesday against utility company Griddy Energy over enormous energy bills some customers incurred as a result of the storm. Bills were allegedly as high as $9,000.
Griddy Energy charges $10 a month to allow residents to pay wholesale prices for electricity instead of a fixed rate. The wholesale prices spiked as temperatures dipped well below freezing as a result of the winter storms, leaving customers with exorbitant bills.MORE: As Texas debates power crisis, El Paso credits its few outages to preparedness
An unprecedented winter storm across Texas in February inflated the price of electricity and left power providers and their customers with outrageously high bills.
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