Texas power company Griddy has been banned from participating in the state’s energy market, according to a report.
The Texas Electric Reliability Council revoked Griddy’s rights to enter the state’s electricity market on Friday because of a payment breach, Bloomberg reported.
Griddy had previously said it would challenge prices set by ERCOT during the crisis.
The company was criticized recently for raising energy bills to $ 17,000 per customer during the deadly winter storm last week.
The company is at the center of a $ 1 billion class action. The lawsuit accuses Griddy of rising prices and fails to protect its customers from astronomical energy costs.