looks like they signed a customer agreement to pay spot utility prices, that usually save them money, but in this environment the spot prices are crazy high. Why would the bill not stand?
I don't think you are understanding. They likely deliberately chose not to pay the fixed price that most people pay and that are always higher due to a premium to cover things like protection against "price gouging", and now that their trade went sideways they and you want to cry crocodile tears?
Do you realize that the usual cost per month mentioned in the article means that they were at least using like two and a half times the electricity of a normal household, especially in January.
What you are trying to whine about is that you want them to now be saved when they were profiting and paying less than you for years.
"bill we just can't afford" but he either clearly lives in a huge home that is probably about 3000 square feet based on his usage or he has some grow operation going on.
This, similar programs exist in other states. They send flyers in the mail and try to sell you on the program by making wholesale power pricing seem like its a way of cutting out the middle man to save money. What they fail to tell you is that wholesale electricity prices can be highly volatile based on supply/demand on the grid. The situation in Texas is an extreme example, but not out of the ordinary for wholesale electricity pricing. If they don't like it they shouldn't have taken the gamble in the first place and stuck with fixed pricing.
I would think that there would have to be something to hang their hat on though, like at least give a notification to them saying "Motherfucker. The cost is going to go up by X $ per kW." An $8,000.00 residential utility bill in a single month is not something that a reasonable person would agree to.
We made the unprecedented decision to tell our customers—whom we worked really hard to get—that they are better off in the near term with another provider,
I mean if they gave them a range on what the price hike would be I could understand, but that statement would not lead me to expect a utility bill that's normally $350ish a month to jump over 20X for less usage than normal.
We made the unprecedented decision to tell our customers—whom we worked really hard to get—that they are better off in the near term with another provider,
I mean if they gave them a range on what the price hike would be I could understand, but that statement would not lead me to expect a utility bill that's normally $350ish a month to jump over 20X for less usage than normal.
Who’s not going to use electricity? You’re supposed to cancel your electricity before a big storm? This is nuts. We used to make it through big storms because we had reliable cheap consistent power. Whoever changed that to make money should be held accountable.
Actually, the opposite. Socialists, socialize the gains and privatize the loss. See IRS rules regarding profit vs loss. The government taxes 100% of your gain, but only allows you to deduct a fraction of the loss.
There is no way that'll stand.
looks like they signed a customer agreement to pay spot utility prices, that usually save them money, but in this environment the spot prices are crazy high. Why would the bill not stand?
Because we have laws preventing price gouging during an emergency. Hopefully that's not just for gasoline, tho
When prices are too high that's gouging, when they are too low it's undercutting. Can we just admit we don't have a free market?
Lot of people don't realize America's economy is so fucked because we are barely a capitalist country as is.
this!
Of course we don't because we don't want to live in an AnCap retard "utopia".
I don't think you are understanding. They likely deliberately chose not to pay the fixed price that most people pay and that are always higher due to a premium to cover things like protection against "price gouging", and now that their trade went sideways they and you want to cry crocodile tears?
Do you realize that the usual cost per month mentioned in the article means that they were at least using like two and a half times the electricity of a normal household, especially in January.
What you are trying to whine about is that you want them to now be saved when they were profiting and paying less than you for years.
"bill we just can't afford" but he either clearly lives in a huge home that is probably about 3000 square feet based on his usage or he has some grow operation going on.
Exactly. If that usual January bill of close to $400 is JUST electricity, meaning no water/sewage/trash, that's damn near 8 times what I pay.
This, similar programs exist in other states. They send flyers in the mail and try to sell you on the program by making wholesale power pricing seem like its a way of cutting out the middle man to save money. What they fail to tell you is that wholesale electricity prices can be highly volatile based on supply/demand on the grid. The situation in Texas is an extreme example, but not out of the ordinary for wholesale electricity pricing. If they don't like it they shouldn't have taken the gamble in the first place and stuck with fixed pricing.
In what way am I whining? I simply stated what I believed, but I'm not a lawyer. Maybe it is perfectly legal
How is it price gouging if that's what the energy costs now that there's a shortage?
It's the market price.
A "market price" implies competition to set that price.
Utilities have no competition .. by law.
“Laws.”
LOOOOOOOOOOOOOOOOOOL
Kinda like the variable rate mortgage crisis.
Variable mortgage rates are bananas.
I would think that there would have to be something to hang their hat on though, like at least give a notification to them saying "Motherfucker. The cost is going to go up by X $ per kW." An $8,000.00 residential utility bill in a single month is not something that a reasonable person would agree to.
The power company sent out notices to customers begging them to cancel their plans before the storm came. He ignored the notice.
What I responded to the other user with:
I mean if they gave them a range on what the price hike would be I could understand, but that statement would not lead me to expect a utility bill that's normally $350ish a month to jump over 20X for less usage than normal.
the article said they did, they told customers to change providers or not use electricity
I mean if they gave them a range on what the price hike would be I could understand, but that statement would not lead me to expect a utility bill that's normally $350ish a month to jump over 20X for less usage than normal.
Who’s not going to use electricity? You’re supposed to cancel your electricity before a big storm? This is nuts. We used to make it through big storms because we had reliable cheap consistent power. Whoever changed that to make money should be held accountable.
Actually, the opposite. Socialists, socialize the gains and privatize the loss. See IRS rules regarding profit vs loss. The government taxes 100% of your gain, but only allows you to deduct a fraction of the loss.
I've had a doubled bill, but 10x the most possible? Nope. Fuck that noise. Sue them for price gouging in a crisis.
It will stand, but Griddy is going to be out of business by months end, so