Wow! Can they legally do this?
 

https://www.yahoo.com/news/lights-stayed-during-texas-storm-160028286.html


Edit: I just now see that it is being talked about in the other thread.

Our electric providers are deregulated and can offer plans fixed cost per Kw or plans with variable rate that are based on the actual cost of electricity. Some plans like Griddy take it a step further and offer wholesale rates that can be 50% cheaper than fixed rates but offer no protection against prices spikes. It looks like Griddy customers lost out this time when the wholesale rates skyrocketed to $9k per megawatt.

Who needs government regulations? Let the free market rule!

caveat emptor

If you don't understand the risks, choose a different plan.

http://forums.pelicanparts.com/uploa...1613936998.jpg


http://forums.pelicanparts.com/uploa...1613937021.jpg

I don't believe we have a choice of providers in MI...never seen it anyway.
I have no problem with the one we have...rates are consistent and fair.


Plus...I own stock in the company. Makes paying the bill fun!

Power To Choose | Home

To play around, use zipcode 77040

^^^ This is the message it came back with for my zip.
'No plans found. Your zip code may not be in a service area open to competition.'
So yes...it looks to be regulated.

It is TEXAS only. Which is why I suggested you use 77040. To see what our choices are like.

Also, some cities (Austin, San Antonio) have City owned utilities and there is no competition. This is also true for the Rural Electric Cooperatives.

I see..I thought it was a nationwide search

In my are we we have a choice of one provider who offers a whopping one plan fits all.

It's a co-op.

No other options.

It is like shorting the stock market. A good deal quite often, but an unlimited potential to lose. If you go long, you can only lose what you bought (when the stock goes to zero). A stock you short can just keep going up.

People need to read the fine print/consider potential worst case scenario when signing up for these things.

Two of our local news anchors signed up for Griddy. They were caught out in August one year and had a few days of over $100/day. I sent a note to the one I'm friends with that he should have a backup generator and turn the power off if the price goes over $0.15/kWh (cost of producing power with the Generator).

At the time, the anchor was newly remarried with a wife at home and a new baby...No turning off the air conditioning. The other one, the traffic girl, was able to turn off her AC for several hours and save herself hundred of dollars.

yeah, but a regulated market sucks...lol