He did it to himself. The government partially to blame. But he did it to himself.
In texas you have a choice of companies you can buy electricity from. I'm paying 6.8 cents per kWh in texas. I'm paying a company extra up front to take the risk of price spikes out of my bill.
This guy decided to gamble with Griddy. He pays less most of the time but he needs to monitor his usage and has no protection from price spikes. He went to Vegas with his electricity bill and lost folks.
I've been with Griddy before and thought it might be a winner. It wasn't. He knew the risks going in and he's just one of thousands who did the same thing.
He made the choice. He wasn't forced into Griddy
That's the correct attitude. Painful economic lessons encourage us all to pay attention. This guy's no different.
OP isn't wrong, but it still sucks.
There should be a hard cap on what the customer should be responsible for.
Exactly. Griddy is variable rate. It's idiotic.
Didn't Griddy also send out warning messages to their customers that they know it was going to spike too?
It's even on their website with instructions on how to switch your carrier.
https://es.griddy.com/post/winter-storm-watch
Considering that a quarter of the population (give or take) has a less than average IQ, it is wrong to allow any energy company to gouge citizens who may not understand the risks of choosing a particular energy supplier.
That customer is a 38 year old contractor. He knew what he was getting into, Griddy is risky AF and everyone knows it, which is why their customer base is so small.
I’m not sure what kind of math you learned but I’d hazard a guess that exactly *half the population has a less than average IQ. I also think stupid should hurt.
He should just not pay
He chose to go with Griddy, which warned customers of the spikes. He should pay.
No Wrong
You can not just change the price to ie $1 million per second on someone and expect them to pay just because it was in the contract.
That's the exact business model of Griddy. There are almost a dozen power companies to choose from, all with rates you can lock in so they're the same over every month of the year.
The homeowner CHOSE a variable rate, fringe business model. That's on him, just as foreclosures on ARMs are the responsibility of the homeowners who choose that absurd structure. Play stupid games...