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There's a statute of limitations on collecting debt. Looks like in Texas, it's 4 years. A creditor (or its assignees) can certainly take debtors to court and get a judgement, which would reset the statute. But that's a lot of expense, and may not be recouped.

If Griddy is booted out of ERCOT, Griddy (or its assignees) probably can't prevent them from switching to other providers with a balance due, and probably can't have their electricity turned off for non-payment, so for customers that ended up with a balance due in the thousands, I expect they'll have to write off a lot of that.

(I'm not a lawyer, if I was a lawyer, I wouldn't be admitted in Texas, I didn't even read the law, just a web page that looked appropriate)