Customers in Texas have options in how they are billed for their electricity, according to the Public Utility Commission of Texas' (PUCT) website. However, there are also market rate plans that are tied directly to the price utility companies pay for electricity. When the winter storm wreaked havoc on Texas' power grid, power prices shot up and so did bills for customers on market rate plans. Griddy urged "members switch to another provider with a fixed rate," according to a statement from the company. The company also said it also wants to "continue offering innovative products and services in the retail energy market in Texas."

Source: CNN February 20, 2021 17:37 UTC