On Wednesday evening, spot electricity prices topped $5,000 per megawatt-hour, up more than 200 times from Wednesday morning.
I can’t help but laugh at the stupidity of allowing such price gouging.
Everything is bigger in Texas.
I distinctly remember after the big power failures in Texas due to the “cold” that the Texas grid was supposed to be for summer not winter… looks like it’s really just made for those days when nobody needs to turn anything on.
for summer not winter
it’s for profit
Jesus it’s a good thing griddy went away.
Any Texans can share the reality of this ?
It only directly impacts people on variable rate or wholesale plans. I say directly because I can almost guarentee that all of us in this “lovely” state will get hosed either by our “wonderful” state legislature in the next session, or by the electricity providers the next time our plans come up for renewal. I know in my case, last contract I found was ~30% higher than our previous one. I expect it to be worse next time.
There’s plenty of power but the grid is shitty. It’s induced scarcity/price gouging by not investing in infrastructure.
People with money are going to get solar and batteries and tell the grid to get fucked.
It’s pretty interesting. Here in the UK when our bills went crazy because Ukraine, it’s exposed the facts that people didn’t even really understand their prices were set by a market - and not much to do with cost of production or distribution.
They’d been voting hard to get these national utilities into private hands, without the first idea of what that meant.
I don’t think they can afford the power to turn their phones on to comment
