Government interfered, for some “reason.”
Nice image at the link of the problem, and below is the link to several days of “real-time pricing” across ERCOT.
Divide by 1,000 for kilowatts.
http://www.ercot.com/content/cdr/html/20210219_real_time_spp
Anyone that thinks that folks are going to pay outrageous bills is just plain not thinking.
Read the order here - it was capping prices, not raising them.
https://www.puc.texas.gov/51617WinterERCOTOrder.pdf
Question - does Griddy know the difference between a kilowatt hour and a megawatt hour?
“As provided in §25.505(g)(6)(D), once the PNM threshold is achieved, the system-wide offer cap is set at the low system-wide offer cap (LCAP), which is is “the greater of”
either “(i) $2,000 per MWh and $2,000 per MW per hour; or (ii) 50 times the natural gas price index value determined by ERCOT, expressed in dollars per MWh and dollars per MW per hour.”
Due to exceptionally high natural gas prices at this time, if the LCAP is calculated as “50 times the natural gas price index value,” it may exceed the high system-wide offer cap (HCAP) of $9,000 per MWh and $9,000 per MW per hour. 16 TAC § 25.505(g)(6).
This outcome would be contrary to the purpose of the rule, which is to protect consumers from substantially high prices in years with substantial generator revenues. It would make little sense to expose consumers to prices that are higher than the usual maximum price after a generator
revenue threshold has been achieved”
Softening up the proles for the coming permanent energy price increases.
Only triple the past normal rate will be nice compared to this. Sheeple will be glad to have it!
“Good news, comrades! The chocolate ration has been increased to 25 grams!” (It was 30 grams last week.)
People need to realize that Milton Friedman’s concept of Realized Expectations means that the affect of some future event can be felt today. When Trump said he would hold true to his promise of corporate tax cuts and the business community believed it, corporate hiring and investment took off long before the tax cut went into effect. The same is happening now. Biden’s idiotic policies (e.e., promised tax increases on corporate and personal income, killing the Keystone Pipeline, fighting fracking, restricted gov’t oil leases, promised Green Deal policies) all have triggered market responses, including the rapid rise of distillate fuels.
Why would anyone with one neuron still firing think a man who’s been a politician for 46 years and never accomplished anything is prepared to run the largest economic engine on the planet. Pile on top of that the fact he doesn’t even know where he is most of the time, and you’ll quickly see this demented leader is going reverse all of the good things Trump did.
Idiots should learn to read the fine print.
Just pay your regular bill on time and don’t fall for variable rate plans.
‘Cause everything is bigger in Texas.
ping
There should be California lawyers that know how to deal like such scams.
If I have paid $100 per doctor visit and the doctors sends me a bill for $1000 for a like visit, the customary and usual amount should apply.