Texas Electric Company Tells Customers to Cancel Their Plans

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    This is something you don’t see everyday. A company warning you that they’re about to throw a massive bill your way if you don’t cancel.

    Texas without a doubt has the most competitive electric business in the country. I grew up in Maryland, where we had one electric company growing up. That’s right, BGE. Didn’t like the rates? Too bad, only game in town. Here in Texas, you have a plethora of electric companies trying to get your business.

    Over in the Houston area, you have electric service provider Griddy. They call themselves a wholesale electrical provider. They say, you pay the exact price that they buy the electricity at. Sounds like a deal too good to be true. Maybe it is.

    Griddy released a statement today telling their customers to cancel. Customers would be facing a $9,000 a megawatt per hour if they don’t cancel. The good thing is that Griddy has no contacts and no termination fees. Still, trying to switch electrical providers…

    Read more…

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