re: Texans facing up to 10k electric bill

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If you considered personal responsibility a downside I suppose you’re right these high electric bills are because people were playing the market and not locking in a rate.

I have a locked in rate of $0.123 per KWH, that is what I pay period. For me to get a boll in the thousands I would have to be burning a shite ton of electric.

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99% of people are not going to do a particularly good risk assessment on this.

We teach them almost nothing about good financial choices and then toss them into the world expecting them to have learned it quite well on their own.

I’m all about personal responsibility but also try to acknowledge reality alongside it. On a residential rig, even if it brings up the minimum rate, the highest rate should likely cap at some point

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They have options on who their electricity provider is?

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Ya see that’s the problem.

We need the government to choose our electric provider for us. The government knows best.

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We teach them almost nothing about good financial choices and then toss them into the world expecting them to have learned it quite well on their own.

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.

Those classes have been replaced with African American studies and other SJW bullshite classes.

I typically say these people knew what they were getting into with a variable rate plan, but $9k/MWh is ludicrous and this failure could have never been foreseen, even by a consumer with a sound risk assessment.

Bottom line, these people fricked up by going with a variable rate plan and TX fricked up by not at least implementing some regulation to control the market during a catastrophe. It’s not an either or when assigning blame.

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Keep voting republican

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People should have less options, correct? It would be better if the government had more regulations to prevent people from making their own decisions? Maybe the government should prevent people from investing in the stock market as well. After all, a particular stock could crash and a person could lose a lot of money on their gamble, right?

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Agreed. These folks typically enjoyed lower rates playing the market; but in this instance it bit them.

It's like playing the stock market, and wanting your money back at the end of the day.

How about a little personal responsibility.

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MF’ing this!

“Hey , look at this stock going up by 20% a month. Let me buy it as I know it will keep doing that. LOL at those schmucks making 8% a year”.

“Hey, look at this $0.03 kw-hr, let me buy it as I know it will be this low forever. LOL at those schmucks paying $0.09 kw-hr.

Yeah but to go from $50kwh to $9,000kwh in one week is fricking insane and only a real piece of shite would blame the consumer.

You want incentives for power companies to winterize in the future? Here it is.

Not really. He should have used shorting a stock.

They also could have switched like they were told to do. Kinda like selling their position.

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99% of people are not going to do a particularly good risk assessment on this.

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The natural resolution of this “logic” is socialism.

We don’t do a great job of teaching folks about all things regarding their transportation choices: whether or not to buy a car, driving a car, spec’ing a car, purchasing, financing, and insuring a car, fixing a car. And car ownership is usually more expensive for a person than is energy consumption cost.

I don’t think GM, Toyota or the rabble of Houston-area energy providers particularly want their consumers better educated on making the most intelligent and wisest fiscal choices.