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Griddy Energy has filed for bankruptcy protection and proposed a reorganization plan owing to the financial devastation wreaked by winter storm Uri in Texas.
The electric retailer says its Chapter 11 reorganization plan is designed to release its former customers from their unpaid electric bills.
Griddy's business model was based on giving its customers access to wholesale pricing and data to allow them to reduce their bills while helping to balance the grid, but customers were unable to pay their electric bills after...