5 ms·

The spot price for electricity in Texas is currently about $9000 per MW-hr

24 points by testfoobar 6y ago

bdavis__ 6y ago
I purchase my electricity for my apartment from the spot market in texas. (Griddy is the SF company). Yesterday, cost was $240. For 1 day. Most days cost $2 to $4. Griddy actual sent out an e-mail and a text that said, "go to another supplier, this weekend is going to cost you a bundle".
- testfoobar 6y ago
  Wild. What is your usual 1 day electric bill? How long is this expected to continue?
  - bdavis__ 6y ago
    most days are $0.40 to $2.00, depending on air conditioning use. supposed to end Tuesday night.
- lsllc 6y ago
  Per MW/hr? $2 to $4 seems way too cheap. Here in MA, National Grid in is approx. $0.1239 per KW/hr so x1000 (KW->MW) that would be ~$123 (that's the basic energy cost, not incl. delivery and the "extras" they hit you with).
  - np_tedious 6y ago
    Parent said only that it was the daily cost for their apartment. No numbers or units
    - lsllc 6y ago
      Eh, I guess that's one interpretation of the comment, the OP was talking about cost per MW/hr. But at something like $9K MW/hr, then a day's worth of usage could well be $240. I guess with numbers like this I was just looking for clarification.
- nradov 6y ago
  Why would an apartment dweller sign up for such a service?
  - deleted 6y ago
    [deleted]
  - Kokichi 6y ago
    Because it's usually cheaper than the average energy prices from traditional energy providers.
  - bdavis__ 6y ago
    Over the past 3 years, my monthly electrical bill has been 1/3 to 1/2 what it costs on a "regular" contract.
- deleted 6y ago
  [deleted]
- bdavis__ 6y ago
  Update. Friday, Saturday, and Sunday electric bill was right at $600. I changed providers Sunday night, so Monday was a reasonable $0.15 a kWh Buying electricity on the spot market is like betting on GameStop !
AgentK20 6y ago
While I can definitely agree that there's shortcomings in putting all your eggs in one basket, this seems to be more of a problem of the lack of interconnectivity between the Texas grid and the rest of the US. They chose to keep a totally segmented system, and now as a result of that are unable to effectively import power from areas where it is more readily available.
- airhead969 6y ago
  Too cool for redundancy and availability.
  - fuzzfactor 6y ago
    Correct. Turns out it got so cold with freezing rain that 12K MW of wind power is off line. The isolated Texas grid was originally intended to give better reliability without the risk from other states' problems. It is likely to import power again from Mexico, if not already taking place. I would imagine they're scrambling to cash in at this rate.
instaheat 6y ago
So, my contracted rate is.04 cents per kwh until 2022. That means none of this can affect me, right?
- Kokichi 6y ago
  You're paying $0.0004 per kwh?
airhead969 6y ago
So I live in an apt in Austin, which rolls-up to the city municipal power company. My usual electric bill is $5-8/week with all electric appliances including dryer and heater.
Proven 6y ago
Texas Tesla owners will need 47 years to break even, lol

24 points by testfoobar 6y ago

I purchase my electricity for my apartment from the spot market in texas. (Griddy is the SF company). Yesterday, cost was $240. For 1 day. Most days cost $2 to $4. Griddy actual sent out an e-mail and a text that said, "go to another supplier, this weekend is going to cost you a bundle".

testfoobar 6y ago
Wild. What is your usual 1 day electric bill? How long is this expected to continue?
- bdavis__ 6y ago
  most days are $0.40 to $2.00, depending on air conditioning use. supposed to end Tuesday night.
lsllc 6y ago
Per MW/hr? $2 to $4 seems way too cheap. Here in MA, National Grid in is approx. $0.1239 per KW/hr so x1000 (KW->MW) that would be ~$123 (that's the basic energy cost, not incl. delivery and the "extras" they hit you with).
- np_tedious 6y ago
  Parent said only that it was the daily cost for their apartment. No numbers or units
  - lsllc 6y ago
    Eh, I guess that's one interpretation of the comment, the OP was talking about cost per MW/hr. But at something like $9K MW/hr, then a day's worth of usage could well be $240. I guess with numbers like this I was just looking for clarification.
nradov 6y ago
Why would an apartment dweller sign up for such a service?
- deleted 6y ago
  [deleted]
- Kokichi 6y ago
  Because it's usually cheaper than the average energy prices from traditional energy providers.
- bdavis__ 6y ago
  Over the past 3 years, my monthly electrical bill has been 1/3 to 1/2 what it costs on a "regular" contract.
deleted 6y ago
[deleted]
bdavis__ 6y ago
Update. Friday, Saturday, and Sunday electric bill was right at $600. I changed providers Sunday night, so Monday was a reasonable $0.15 a kWh Buying electricity on the spot market is like betting on GameStop !

AgentK20 6y ago

While I can definitely agree that there's shortcomings in putting all your eggs in one basket, this seems to be more of a problem of the lack of interconnectivity between the Texas grid and the rest of the US. They chose to keep a totally segmented system, and now as a result of that are unable to effectively import power from areas where it is more readily available.

airhead969 6y ago
Too cool for redundancy and availability.
- fuzzfactor 6y ago
  Correct. Turns out it got so cold with freezing rain that 12K MW of wind power is off line. The isolated Texas grid was originally intended to give better reliability without the risk from other states' problems. It is likely to import power again from Mexico, if not already taking place. I would imagine they're scrambling to cash in at this rate.

instaheat 6y ago

So, my contracted rate is.04 cents per kwh until 2022. That means none of this can affect me, right?

Kokichi 6y ago
You're paying $0.0004 per kwh?

airhead969 6y ago

So I live in an apt in Austin, which rolls-up to the city municipal power company. My usual electric bill is $5-8/week with all electric appliances including dryer and heater.

Proven 6y ago

Texas Tesla owners will need 47 years to break even, lol