If you were on a variable or indexed plan, your rate and therefore your electricity bill may have exploded.
DALLAS The Power of Texas breakdown became the power of Texas outrage. Texas electricity supply and demand has really stabilized now. But when it was totally out of balance in the last few days, the cost of electricity in the wholesale market has gone crazy. It went from around $ 50 per megawatt to $ 9,000. This did not affect many retail customers as they were on a fixed rate plan. See the explanation of the types of plans here.
But if you were on a variable or indexed plan, your tariff and therefore your electricity bill may have exploded. A customer sent us a message:
Mine is over $ 1000, I don’t know how much I stayed at 60 degrees. “
Another couple tweeted us:
Using as little as possible a 1300 square foot home and that’s my bill. How is that fair. I only paid $ 1200 for the whole of 2020.
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This tweet was accompanied by a screenshot of their bill, which now stands at $ 3,801.16.
Then I spoke with a guy named Ty Williams. He sent screenshots of his three electricity meters (one for his house, one for a guesthouse, and one for his office). Last month, his bill for all three was $ 660. So far, for this month of electricity, he owes over $ 17,000.
Williams wondered: how the hell can someone pay for this? I mean you spend a few hundred dollars a month … there’s absolutely no way … it just doesn’t make sense.
RELATED: How Will My Electricity Bill Be Affected? Whether you lost power or not Texans might see higher bills
He was on a variable rate plan with Griddy, who made the news this week when he tried to avoid devastating electricity bills for his customers by encouraging them to leave and find a fixed rate plan with d ‘other suppliers. The problem is, during all the electricity craze, Williams says no one would take it until February 26.
You are practically taken hostage and there is nothing you can do about it, ”he said.
Good news, though: Williams says Reliant Energy has agreed to upgrade it to one of its fixed rate plans starting Friday. But what about that bill that Williams still owes its supplier? What about all the other bloated bills so many other Texans owe their suppliers? This will still have to be sorted out. Note: you can buy electricity in Texas here.
Griddy did not explain what kind of relief might be available for customers with extremely inflated bills, but the company had a lot of criticism against some players in the Texas electricity industry and regulators in Texas. State, saying, in part: “We intend to fight this for and alongside our customers for fairness and accountability to reveal why such price increases may have happened as millions of Texans found themselves without electricity.
See Griddy’s full statement here.
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