The great majority of end customers (like me) did not pay the spot price, it was the company between you and the producer that did. Some of them were making no

The great majority of end customers (like me) did not pay the spot price, it was the company between you and the producer that did. Some of them were making noises that they would have to declare bankruptcy as a result of the surge pricing, although I don't know if any of them actually did. There was at least one company that offered a "you get cheaper power normally" service, and the customers apparently didn't fully realize how bad it could get when it's not "normal". I agree with your "sensible approach". On a side note, this issue is much like the reason conventionally taxis normally charged more than Uber did, but Uber had surge pricing. If you want enough capacity for the peak times, you need to overcharge at all other times.