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Anyone from Texas here get overcharged?

TexasEV

Well-Known Member
Jun 5, 2013
7,650
8,914
Austin, TX
Only people who signed up for certain variable rate plans with retail providers such as Griddy, which is uncommon. They gambled that there wouldn’t be enough of a shortage to cause the wholesale price to spike and they lost that bet. Or more likely, they didn’t fully understand what they were signing up for. Most people pay fixed rates for power.
 

brkaus

Well-Known Member
Jul 8, 2014
8,290
6,851
Austin, TX
I kinda don’t get why people are complaining. You signed on the dotted line for variable based on market rate with some no name company. Shoulda just stuck to fixed rate. Kinda dumb to be honest.
But it worked well up until now. So might as well bail them out.

I’d like to see a reporter (do we have those anymore) look at a few long time griddy customers bills and figure out how they compare to a fixed rate plan before and after this incident.
 
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Feathermerchan

Active Member
Sep 21, 2018
1,221
1,016
Euless, Tx
We should talk about how these customers will get bailed out. Who do you think should pay? The retail utility who they had a contract with? I do not see a legal basis if it was a valid contract. Besides it is these companies who have the large bill they have to pay. The state? That's like a big GoFundMe paid for by all those who pay state taxes.

If the generators do not get paid for making power when it was really needed, they will have little incentive to make power during the next shortfall. That could get really ugly.
 

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