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And it did. Plenty of Texans were reducing their power usage to the absolute bare minimum once they got word of how expensive power had just become.
by CydeWeys 6y ago
And it did. Plenty of Texans were reducing their power usage to the absolute bare minimum once they got word of how expensive power had just become.
- maxerickson 6y agoWhy would retail customers (with fixed rates) worry about it?
- throwaway3699 6y agoCommercial customers like factories and empty offices cutting usage can still make a serious impact.
- maxerickson 6y agoI expect they would have mostly been shut down at $1200. Really it looks like retail electric providers in Texas are structurally disadvantaged vs generators, carrying an unlimited obligation of service vs getting the spot price set to the regulatory maximum.
- abathur 6y agohttps://news.ycombinator.com/item?id=26282500 https://news.ycombinator.com/item?id=26282500
- maxerickson 6y ago25000 people.
- abathur 6y agoI recall hearing that it was 29K on Griddy (myself included) before the storm. I've also heard a little over 10K were left to be transferred when it was shut down. I'm not sure exactly how many were exposed to the 4-days of artificially pegged prices. I've also discovered over the past week that there's at least one more wholesale-rate provider, https://www.octopusenergy.com https://www.octopusenergy.com (specifically, it's OctoFlex plan).
- bzbarsky 6y agoNot all retail customers have fixed rates.
- maxerickson 6y agoYeah, that's why I added the qualifier. It seems likely that most of the spot load was going to home heating (with less flexible large loads having contracts).
- bzbarsky 6y agoAh, I misunderstood your comment. You meant "those retail customers who have fixed rates", but I read it as "retail customers, who have fixed rates".
- yohannparis 6y agoOf course, now people are going to keep an eye on daily utility prices, to avoid life braking bills. The superiority of a free market with poor regulations!
- deleted 6y ago[deleted]