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Started By
Message
re: Texans facing up to 10k electric bill
Posted on 2/20/21 at 9:05 am to GurleyGirl
Posted on 2/20/21 at 9:05 am to GurleyGirl
quote:
I promise you no individual home owner has a electricity bill that has increased by nearly $10,000 over the last few days.
Did you not read the thread?
0
Posted on 2/20/21 at 9:06 am to Nado Jenkins83
quote:
You want the gov to wipe your arse too?
Saying prices going up 180x overnight during a disaster and some regulation would be helpful is akin to needing government to wipe your arse is a bit much.
Posted on 2/20/21 at 9:07 am to member12
About year ago I saw a billboard in Texas advertising for one of the providers. Typical marketing deal of three free months of power and half price rates.
I started reading up on how that was possible and if you did not use electricity during peak times, it could be cheaper. For some like families who get home from work at 530 and kick the AC on and Star cooking supper, it was probably not a good option.
What I also read in a lot of forums were people bragging about how cheap their bills was. Bragging about how people were stupid for not switching.
I started reading up on how that was possible and if you did not use electricity during peak times, it could be cheaper. For some like families who get home from work at 530 and kick the AC on and Star cooking supper, it was probably not a good option.
What I also read in a lot of forums were people bragging about how cheap their bills was. Bragging about how people were stupid for not switching.
This post was edited on 2/24/21 at 7:55 am
Posted on 2/20/21 at 9:12 am to OceanMan
quote:
Griddy's prices are controlled by the market, and are therefore vulnerable to sudden swings in demand. With the extreme weather, energy usage has soared, pushing up wholesale power prices to more than $9,000 per megawatt hour — compared to the seasonal average of $50 per megawatt hour.
And this is why we have regulated monopolies people.
Who protects the power company who has to absorb sudden spikes in power costs? Sounds like people had the option to pay a fixed rate (higher than market rate which allows the power company to bank a reserve to pay higher costs during high demand) or a variable rate (lower costs but the consumer assumes the risk of spikes in demand and those higher costs). Should these consumers playing the market have saved up their own reserve to cover spikes in demand? Do we really need regulated monopolies to protect people from their own choices?
Posted on 2/20/21 at 9:12 am to theronswanson
quote:
But his account has already been charged about $630 this month — and he still owes another $2,600. “If worse comes to worst, I have the ability to put it on a credit card or figure something out," Del Rio said. ”There is no one living in that house. All the lights are off. But I have the air at 60 because I don’t want the pipes to freeze.”
I truly feel for these folks, but I read again and again they were told by the company this was going to happen and were advised to switch. Did the ones who didn’t heed that advice or know their terms just assume they wouldn’t have to pay the bill?
There is a silver lining for Mr Del Rio, if his pipes had frozen and burst - that would have cost more than the insane electric bill.
This post was edited on 2/20/21 at 9:24 am
Posted on 2/20/21 at 9:16 am to ZULU
quote:
Some times I guess capitalism has its down sides..
This isn't capitalism. This is preying on people at their most vulnerable. It's akin to usury.
Posted on 2/20/21 at 9:18 am to NoSaint
quote:
Saying prices going up 180x overnight during a disaster and some regulation would be helpful is akin to needing government to wipe your arse is a bit much.
When these same people were warned that it was going to happen and were recommended to switch plans still didn’t and now complain-then yes it is akin to needing the government to wipe their own arse.
Posted on 2/20/21 at 9:21 am to VABuckeye
quote:
This isn't capitalism. This is preying on people at their most vulnerable. It's akin to usury
Is it even that?
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.
Posted on 2/20/21 at 9:26 am to VABuckeye
quote:It sucks for them. But you don't know wtf you're talking about here
This isn't capitalism. This is preying on people at their most vulnerable. It's akin to usury.
Posted on 2/20/21 at 9:26 am to Adam Banks
quote:
Adam Banks
It seems like people who ignored that must have been brainwashed into thinking that they don’t have to bear the costs incurred during disasters, because some one else should care of that.
Posted on 2/20/21 at 9:28 am to The Boat
quote:
Entergy says they don’t have time for that shite.
Entergy does do this. It is on their mobile app.
Posted on 2/20/21 at 10:33 am to Jaspermac
quote:
So I just got my January bill and these people already got a bill for this week
That's not how griddy works. You pay in advance.
Posted on 2/20/21 at 10:33 am to NoSaint
Read the fine print of your agreement
Not hard
Not hard
Posted on 2/20/21 at 10:38 am to Bamajedi
quote:
by Bamajedi
I would be interested in hearing what these folks usually pay for power during other "normal" weather periods per month
They pay a lot less than anyone else.
These news stories are stupid.
I have griddy. I had one day with a crazy bill, now I'm back to paying a quarter of what everyone else is paying.
Right now my price is 1.8 cents per kwh.
This post was edited on 2/20/21 at 10:40 am
Posted on 2/20/21 at 10:42 am to Adam Banks
quote:
When these same people were warned that it was going to happen and were recommended to switch plans still didn’t and now complain-then yes it is akin to needing the government to wipe their own arse.
If it’s so foreseeable and such an obvious choice why not just write it in as an auto trigger or cap in the first place?
At some point you know there’s a line where it’s just the right thing to do. If they got $110k bills and bankruptcy galore reigned that’s obviously not good for society. Is missing an email alert or signing up for the wrong plan worth that kind of impact on society? Especially for a critical life saving utility during a disaster?
Posted on 2/20/21 at 10:43 am to Breric
quote:
CenterPoint owns the infrastructure but is not allowed to sell directly to the consumer
That's not correct.
Posted on 2/20/21 at 10:54 am to Napoleon
quote:
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.
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.
Posted on 2/20/21 at 10:58 am to NYNolaguy1
quote:
Anyone that says price gouging is a good thing should have no problem with this.
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.
Posted on 2/20/21 at 11:00 am to Jack Bauers HnK
quote:
Who protects the power company who has to absorb sudden spikes in power costs? Sounds like people had the option to pay a fixed rate (higher than market rate which allows the power company to bank a reserve to pay higher costs during high demand) or a variable rate (lower costs but the consumer assumes the risk of spikes in demand and those higher costs). Should these consumers playing the market have saved up their own reserve to cover spikes in demand? Do we really need regulated monopolies to protect people from their own choices?
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.
This post was edited on 2/20/21 at 11:01 am
Posted on 2/20/21 at 11:00 am to NYNolaguy1
quote:
Anyone that says price gouging is a good thing should have no problem with this.
I've never heard anyone say price gouging is a good thing.
Either way, this is not price gouging. But it is the reason people in Texas lost power.
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