$8,800 per Megawatt-Hour in Texas

[Axtremus]

Wholesale power plans left Texans on the hook for thousands of dollars after prices spiked.
https://www.vox.com/2021/2/20/22292926/texas-high-electric-bills-winter-storm-griddy

https://www.dallasnews.com/business/2021/02/20/griddy-customers-face-5000-bills-for-5-freezing-days-in-texas/

In the name of free market and deregulation, some Texas households get to pay thousands of dollars in electricity bills for only a few days of electricity use.

[Jolly]

That's because those households chose a plan that was dirt cheap, but variable.

My son's electric bill for this month is still only about $200 (with a week to go in the month). He had over a foot of snow and ice at his home.

[Loki]

It’s terribly unfortunate. I am never tempted by deals that are too good to be true. Silly risk to save a few sheckles.

Seems like the rate was the rate and no one was gouging.

Still people will continue to buy that product.

[Copper]

Kind of like student loans.

[Horace]

like variable rate mortgages?

[Copper]

Link to video

[Aqua Letifer]

@loki said in $8,800 per Megawatt-Hour in Texas:

Silly risk to save a few sheckles.

Yes because everyone's in the exact same financial situation as you and no one in America has ever had a problem paying utility bills. Also, the homeless are lazy and they just need to take a shower.

[jon-nyc]

There was a story about one of the providers with pass-through pricing contacting their customers and encouraging them to drop them and come back after the crisis.

[Jolly]

I suspect the variable plans will be less popular in the future.