Hi, friends, I keep thinking about what is going to happen for folks living in Texas and their utility bills from the folks impacted last week.
Ignoring all people with water damage from burst pipes, and ignoring all the people who had to scramble to get into hotels that still had electricity, all the other unplanned expenses, etc…
Those who didn’t lose power are going to have massive bills that are not feasible for people to pay.
Let’s talk about this late-stage capitalist dystopia here.
So folks can pay “Griddy” (which sounds close enough to Gritty that it pisses me off because I love that doofy-ass whackjob mascot, especially the memes during the election when Pennsylvania went blue), $9.99/month to access electricity at something kinda like wholesale prices?
From the article above —
A Griddy customer who lives in Arlington, Texas, said in her complaint that the company took more than $1,000 out of her bank account — a shocking rise from the usual range of $49 to $61 she paid each month.
There’s no fucking guardrails because Texas legislators are too busy deepthroating unregulated capitalism. Customers can apparently be charged whatever the “market price” is that day??? Yeah market price works when you go to a restaurant and find out you don’t want to spend $35 on fish and get a chicken dish instead, doesn’t work for a utility.
And then today a coworker asked if I saw what happened with the Brazos Co-Op. Brazos is the largest electrical co-op in Texas and they filed for chapter 11 bankruptcy protection because fucking ERCOT billed them $2.1 BILLION for the 7-day period of the storm.
The price for wholesale electricity was set at the maximum price of $9,000 per megawatt hour for more than four straight days. ERCOT also imposed other ancillary fees totaling more than $25,000 per megawatt hour
The maximum price WHOLESALE for ERCOT is $9000 per megawatt hour. For contrast, Ameren (my electrical provider) charges customers $00.1181 per kilowatt hour in summer when usage is higher. Soooo that would be $118.10 for a megawatt hour if that were their wholesale price.
Also, what the fuck is up with the $25,000 per megawatt hour ancillary fees??? Douchebags.
I would love to know the pay and bonus structure at ERCOT because you know some motherfuckers made bank with all the price gauging they are allowed to do thanks to Texas deregulation policies.