Electric deregulation in Texas allowed anyone with a business entity and $150K in liquidity to become a "power retailer". Many people saw this as a get rich quick scheme and formed power retailer businesses. They offered insanely unsustainable rates and plans to their gullible customers who wanted to save money. These small retailers were often going bust and sticking their customers with big bills long before the Texas winter freeze, but lets not get bogged down in that inconvenient fact. Lets just focus on the bad acting these companies did during the run up to this weather event.
These small retailers gambled that they would always be able to kick the can down the road on their energy auction shortfalls. Daily power auctions for blocks of power favor those who have a greater ability to take financial risks. The big retailers have more reserve funding to take on any situations where they didn't buy enough power at good prices and had to pay premium prices after the market had set. The little guys run too lean to tolerate much risk. They fucked up by not buying enough when the prices started to climb and got stuck when their customers usage went above their purchased blocks. They then had to pay very high prices to the other retailers to meet their customer's needs. They were unprepared to do this and now they have to pass the costs on to their customers because they have variable rates plans. Buyer beware is the lesson here.
The problem here isn't deregulation. The problem here is too many idiots thinking they can run a power retail business by making big promises they can't deliver on. The big retailers will survive. The little retailers are going to be decimated or worse. Their customers can actually catch a break if the small retailer fails. They technically won't owe anyone that money on their huge bills. Those who switch now may also be spared, but I wouldn't count on it. Customers should look for larger retailers who offer fixed rate plans, even if it means having a two year contract to get it. There is too much daily volatility for anyone who doesn't understand the deregulated power market. I feel no sympathy for any Texan who foolishly went with a small provider even less sympathy for those who decided to be their own power company and participate in the daily auctions directly. Those people are just Texas-sized damned fools.
Morbo 1 point - 6h ago Yes, just like people who choose to ride motorcycles or climb mountains. Do you want everyone to avoid doing anything that might shorten their life span? Sounds pretty damned authoritarian to me.
posts one viewpoint in one thread, entirely different in another...hello "fellow" huwhite person
How does this conflict with my motorcycle comment on the other thread? Both riding motorcycles and being a customer to a mom-and-pop power provider are stupid, but I'm not calling for anyone to be barred from doing either. People can ride motorbikes, smoke cigarettes, have unprotected sex with niggers and choose to purchase power from a small time provider and I will not stop them or call for anyone to stop them from doing these things. Only a kike would take away your freedom of personal choice and I have instead defended it. Yeah I may call them stupid for it, but I won't stand for anyone banning them from doing these things.
Now tell me again who is the fellow huwhite person here?
you clearly are
you have a problem with personal choices that have no "measureable" benefit from "your perspective"
I can spot a kike a mile away, do you know why? Because i'm a psych worker and jews are literally suffering from mental disorders, so it's not hard to see.
Only a kike would take away your freedom of personal choice and I have instead defended it.
I feel no sympathy for any Texan who ...
oh yea, your really out here "defending" stuff kike your kinds doublespeak is getting more transparent by the day as your state of anxiety over the rise of white nationalism increases.
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