Yeah what kind of weird rate plan are they on? Some kind of feel-good “Green Energy” special rate plan? Texas FReepers what say you?
Nothing to do with green energy, everything to do with sleazy sales promotions by unregulated utilities. It’s easier to proactively rein in unfair business practices than to retroactively fix them.
California’s experience in 2001-2002 illustrated the folly of allowing variable rate contracts.
Griddy is pass through wholesale pricing. 99% of the time it is the cheapest plan. Customers know this. And now Abbott goes communist because of the 1%
I was a voice crying in the wilderness when this was being pushed under the guise of REDUCING the electric bills. We have seen some minor issues with this billing when the wind stopped blowing in the summer. I moved to Florida to retire and actually saw a minor rate reduction this year. Hopefully this will result in this being jerked out by the roots.
The cheapest plan was spot rate, and spot rates zoomed.
It’s reminiscent of a floating rate mortgage, in a way. Cheaper, but riskier than a fixed rate plan.