I won't doubt that, but it is still only a specific supplier with a business model which under normal circumstances cuts out the price-hedging of a fixed-rate utility. A fix rate utility will roughly know how much electric power will be consumed in the next few month and will pre-order that on the futures market. Under normal circumstances there is overcapacity in the grid and this electric power is cheaper. Gitty buys and delivers that power and saves their customer money. Under these peak demand circumstances, there was minimum overcapacity above the pre-orders and a high demand which let the wholesale actual price explode.The company was nice enough to warn their customers and also fulfilled their contractual delivery duties.