Posted on 03/06/2021 10:29:15 AM PST by Theoria
What extra power? Millions went without power.
Reprice natural gas purchases.
Then reprice the electricity, related to the natural gas purchases or otherwise.
unpaywalled, https://archive.is/quFp0
Lots of problems in Texas still, same with every state.
Don’t take no for an answer!
If the ripoffs are not remedied, the Republican Party in Texas is political roadkill.
Well they do say everything’s BIGGER in Texas. LOL
Got a nice big $4000 electric bill?
I’ll stick with my backwoods electric co-op.
There is the cost of producing extea electricity, and there is the windfall (spot market) price that was charged due to scarcity, in order to limit consumption over a small window of time. It was an emergency mechanism.
Some people made a killing, a lot of others are in or close to bankruptcy, including companies and institutions that run vital infrastructure. If this is allowed to stand without relief then transmission and distribution systems will absolutely fail, leaving large parts of the state without electricity. Which is absurd.
Now is the time to unwind the economic damage. Best way out is probably to permit those utility companies hit with this to issue bonds to cover the excess cost and tack on the costs to electric rates over the life of the bonds. Very similar to how California got out of the electricity crisis of 2000-2001.
There is real corruption in Texas. I have experienced it with my ATMOS Gas company service when they charged me for a new meter they forced me to accept by not giving any warning that they were about to replace my meter with a ‘smart meter’ which does not require someone to come read the meter each month. That little $400 dollar extra was charged on my monthly bill, irrevocably. ATMOS is out of Texas.
soo... I am suppose to feel sorry for idiots that signed up for flexible price plans that have paid less than me for years because of it.. that had power while I was shivering in the cold for 3 days?
They chose those plans, and they chose to keep their heater running 24/7 while millions of us had nothing.
I don’t feel sorry for these people in the least!
Exactly....I purposely paid a flat rate for computer, phone etc. years ago....glad to say I’m very happy I did as I watched rates increase over the years.
Have you ever noticed that Idaho never has any power outages?
Do you know why?
Potatoes.
I remember a kid in our grade school science fair who generated electricity out of a potato.
I kid you not.
Every Tesla car should have a sack of potatoes in the trunk.
Look at Idaho’s motto on their license plates.....
“Famous Potatoes....And No Blackouts”
This is theft with the explicit support by government.
If this was NY, Cal, or Illinois, it would be covered in the “stimulus” bill....
The headline makes it sound like people were ripped off. If they were charged appropriately under the terms of a contract they signed, then there was no “overcharge” here.
My daughter lives in a small town here in Indiana where the town handles all the utilities.
The town was on a nat gas supply deal with spot pricing.
For years they had great rates.
Last month nat gas spot price went up massively during the cold snap.
Her last month bill was 4X what it would have been.
The Public Utility Commission of Texas on Friday signaled it didn’t intend to reverse $16 billion in electric overcharges that an independent market monitor had flagged as stemming from the state’s weeklong blackouts.
Gamblers are going to get burned. My rate is tied to natural gas pricing, but with stabilizing mechanisms. I pay a higher rate than those who went for pricing based on constant fluctuation. Yes, they paid less over certain time periods, but they got burned in the end. Because the house always wins.
If you want to try to follow the money, you might look at ICE. I consider them the new Enron, and they made enough that they were able to buy the NYSE.
Some of the people on this forum, sheesh. They seem dead set on watching their country burn for the sake of telling anonymous people on the internet “I told you so.”
I can promise you this: Dems are going to squeeze this story to the hilt. Little blue haired grandmas shakily holding up thousand dollar electric bills and weepily saying how they have to choose between their medicine and keeping grandpa’s oxygen machine running. Greg Abbott and Ted Cruz shaking hands with old white guys while sinister music plays.
Every moment the Governor doesn’t demand the charges get changed is another moment the Dems creep up in the polls. Big tech and big media are going to be pushing the story nonstop until November 2022, registering all those recent California transplants and getting them to the polls.
That’s the game, we all know that’s the game, yet there are smug posters here saying that blue haired granny was asking for it because they want to remain principled or something.
Hedge funds, private investors, unelected bureaucrats, municipal bigwigs, they’re going to do ok no matter what. 16 billion of windfall profit during an emergency over the course of two days is theft plain and simple, made even more sinister with the knowledge that cutting corners to take even more profits by not weatherizing years ago was part of the reason that the emergency was as bad as it was.
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