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Message
re: Texans facing up to 10k electric bill
Posted on 2/20/21 at 11:02 am to EA6B
Posted on 2/20/21 at 11:02 am to EA6B
quote:Exactly. It's not like someone was sitting there and went oh shite it's cold, better increase my price now and frick these people!
I wish someone could explain explain to me what “price gouging” is. The customers of this particular utility company choose to pay for their electricity based on market pricing instead of locking in a contract rate in hope of paying a lower rate, but unfortunately forces on supply, and demand increased price.
Supply decreased sharply, demand increased and the market determined the price.
0
Posted on 2/20/21 at 11:03 am to Adam Banks
quote:
These people were warned by the provider to change to a plan where essentially the provider would bear the cost of the increased prices and they still didn’t switch.
"Hey guys, I know that you have no water or power right now and probably are saving your phone for emergencies but BTW you should drop us as your power provider b/c we are about to drain your banks accounts. K thanks bye!"
Posted on 2/20/21 at 11:07 am to pelicanpride
quote:
Agree 100%. I have enough things in my life to worry about besides pondering the financial implications of which energy provider I choose. I’m not buying a damn house. The idea that I could receive a $10,000 bill simply isn’t something that would ever cross my mind. People are going to go bankrupt over simply choosing the wrong plan that they probably spent 30 seconds thinking about. If this is what deregulation gives us, I’d like a bit more regulation, please.
All of these people had the option of going with a provider at a fixed rate, avoiding the possibility of a skyrocketing bill, they choose to gamble on a cheaper rate.
Posted on 2/20/21 at 11:07 am to theronswanson
I live in Texas and my bill for this month is currently around $68 and is estimated to fall between $80-$100 by the end of Feb.
I'm new to the Texas energy thing (being from Louisiana) but I'm guessing I have a provider who isn't raising price?
I'm new to the Texas energy thing (being from Louisiana) but I'm guessing I have a provider who isn't raising price?
Posted on 2/20/21 at 11:09 am to dcrews
quote:you chose a provider, and within that provider you chose a plan. The plans are pretty well laid out. And if you very well know how much energy you consume, then you can save a lot of money by choosing the best plan that fits you.
I'm new to the Texas energy thing (being from Louisiana) but I'm guessing I have a provider who isn't raising price?
When I moved here I literally made a spreadsheet because all these options were confusing to me. But everything is spelled out.
This post was edited on 2/20/21 at 11:10 am
Posted on 2/20/21 at 11:09 am to GurleyGirl
quote:
bullshite story liberal hit piece against a conservative state. I promise you no individual home owner has a electricity bill that has increased by nearly $10,000 over the last few days. They needed something to divert attention away from Cuomo's Covid-19 policies killing thousands in nursing homes and then hiding the data from the public.
Here is the person that has no idea how Griddy works but pontificates anyway.
Posted on 2/20/21 at 11:11 am to ZULU
quote:
health insurance
Affordable insurance existed before the ACA.
Posted on 2/20/21 at 11:14 am to Obtuse1
quote:
Here is the person that has no idea how Griddy works but pontificates anyway.
Do you have any idea how griddy works?
Posted on 2/20/21 at 11:15 am to Dr RC
quote:
"Hey guys, I know that you have no water or power right now and probably are saving your phone for emergencies but BTW you should drop us as your power provider b/c we are about to drain your banks accounts. K thanks bye!"
No.
It was "Hey you are our customers but natural gas is going through the roof and we expect it to go even higher with the impending weather. We expect these bills to be absurd so please find someone else."
They sent this out before the weather and outages hit.
Some customers heeded the warnings. Some saw the huge spike a day in and changed. Others such as these customers continue to ride it out because
You can even find people on this board who had griddy and can attest what they did. There was even a topic on this board predicting these sob story articles because people werent going to heed the warning.
Posted on 2/20/21 at 11:15 am to EA6B
quote:
All of these people had the option of going with a provider at a fixed rate, avoiding the possibility of a skyrocketing bill, they choose to gamble on a cheaper rate.
When I put my money in stocks, I understand there is a chance that I could lose it all. That’s common knowledge. When signing up for an energy plan, I don’t think very many people ever imagined that they could receive a $10,000 bill for 3 days. You can go ahead and preach this tough guy personal responsibility nonsense all you want. It’s difficult to make responsible choices when people are uninformed about their risks.
Posted on 2/20/21 at 11:18 am to pelicanpride
OK whose fault is that?
quote:apparently not, if you've followed recent events.
When I put my money in stocks, I understand there is a chance that I could lose it all. That’s common knowledge.
This post was edited on 2/20/21 at 11:20 am
Posted on 2/20/21 at 11:19 am to Adam Banks
I stuck with griddy because no one was saying they could switch me over until Monday.
I had one day that cost me 50 bucks and now I'm back to normal.
The more I see these stories the more I think they are bullshite.
I had one day that cost me 50 bucks and now I'm back to normal.
The more I see these stories the more I think they are bullshite.
Posted on 2/20/21 at 11:23 am to EA6B
quote:
wish someone could explain explain to me what “price gouging” is. The customers of this particular utility company choose to pay for their electricity based on market pricing instead of locking in a contract rate in hope of paying a lower rate, but unfortunately forces on supply, and demand increased price.
Hell - they should offer basically free power but if it hits 28 degrees you have to flip a coin and if it comes up heads you and your children have to report to a power company work camp for the next decade.
I’m not opposed to having some various options, but don’t think that there should be one that puts the risk at receiving a bill that is multiples of the average income or average savings in the area with reasonable consumption. It’s bad for everyone.
Posted on 2/20/21 at 11:25 am to noonan
quote:
had one day that cost me 50 bucks and now I'm back to normal.
The more I see these stories the more I think they are bull shite.
And if that’s the accurate feedback, totally reasonable risk reward by my book. The type that a reasonable person would expect from a non locked program.
Posted on 2/20/21 at 11:26 am to noonan
quote:
Do you have any idea how griddy works?
Yes, it is a service that allows members to buy their electricity essentially at wholesale rates. The rate fluctuates as a result of market factors primarily supply and demand. While it generally results in lower pricing during unusually high demand like what was seen in the last week in TX the price can soar exponentially like when it rose to over $9,000 a megawatt-hour a few days ago.
Posted on 2/20/21 at 11:29 am to Napoleon
quote:
Let's blame the liberals and their windmills some more so people don't discover the truth.
i have seen this personally on my facebook feed lol. people acting like its the windmills that make up 10% of texas power that are causing this. renewables sucked but the real issue is grid failure. these companies gambled and they lost. i dont necessarily blame them because it would cost hundreds of millions to prep for this kinda weather event and it hardly ever happens. in our competitive market it just puts you behind to your shareholders if you spend that much money prepping for doomsday scenario and it doesn't happen you'll be replaced as soon as the quarterly reports come out
Posted on 2/20/21 at 12:13 pm to Dr RC
quote:
The power companies don't need protection from variable rates. They push those things hard above all other kinds of plans b/c it's abetter deal for them in the long run. TXU straight up switches you w/o any heads up to a month to month variable rate if your original fixed rate plan expires. If variable rates were so dangerous to them they'd never do that.
The power companies get “gouged” because they’re buying the power from whole sale, do they not? They like their customers on variable plans because it shifts that risk to the customer below them. Otherwise, the power company has to charge higher “fixed” rates so they can cover their costs and bank up enough assets to pay the “gouging” price from wholesalers during spikes in demand. Someone has to bear the cost of spike demand, do they not?
Posted on 2/20/21 at 12:25 pm to ZULU
quote:
Some times I guess capitalism has its down sides.. Maybe I will win the lottery so I can pay my electric bill and health insurance.
You can’t judge the system at one point in time and say it’s broken
The system will correct itself because people will move away from Griddy and the idiotic variable rate plans.
They chose those plans because they were trying to save money. They saved money by taking on risk. That risk manifested itself last week.
Some people are just more comfortable under government rule, sounds like you should move to another state. Isn’t that what the left says when they kick conservatives off of Twitter? “Just get your own servers and internet”
Posted on 2/20/21 at 12:29 pm to castorinho
Yeah, I remember it being like shopping for a cell phone plan back in the 2000's.
Free nights, weekends, etc...
I used the power to choose website that helped me pick out a provider and locked in a 12 month rate.
Free nights, weekends, etc...
I used the power to choose website that helped me pick out a provider and locked in a 12 month rate.
Posted on 2/20/21 at 12:34 pm to dcrews
Yeah some of the options are exotic. If you just moved into a new home it's hard to tell. But after that first year contract and knowing exactly your usage, you can get the best plan for yourself
This post was edited on 2/20/21 at 1:03 pm
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