Rep McCaul(R) Texas says Federal Govt will bailout private citizens harmed

[WillJ8787]

Source: Interview on the telly right now

Hmmm, so Texas forms Ercot to avoid having Federal Govt influence and regulations and now Repub politicians are looking to that very govt to...quote..."pay the outrageous Electricity bills Texas citizens are receiving from their electric providers.

what????

 

[CornusKousa]

Source: Interview on the telly right now

Hmmm, so Texas forms Ercot to avoid having Federal Govt influence and regulations and now Repub politicians are looking to that very govt to...quote..."pay the outrageous Electricity bills Texas citizens are receiving from their electric providers.

what????

Screw up and get bailed out......that's the gold standard in the USA, EVERYONE get's a trophy!!!

 

[Champakian]

We keep bailing out Blue states and cities when their daydreams go bust.



So, spend, spend, spend, even Democrats will approve publicly of this spending
as they pander for votes and struggle mightily to turn Texas Blue.
They're even moving in for the kill from California...

 

[CornusKousa]

We keep bailing out Blue states and cities when their daydreams go bust.



So, spend, spend, spend, even Democrats will approve publicly of this spending
as they pander for votes and struggle mightily to turn Texas Blue.
They're even moving in for the kill from California...

I can see it now...2028, Texas is blue and a single wide in Lufkin will already be knocking 800,000 dollars. LOL

God forbid you want a house with a foundation instead of some axles....those will all cost 1. something

I wonder what state they'll destroy after that??

 

[adrina]

Privatize the profits, socialize the losses.

 

[CornusKousa]

Privatize the profits, socialize the losses.

The establishment machine model!!

Yay Biden!!!

 

[jaF0]

The State created this mess. The State should pay those bills, or nullify them.

 

[RobDownSouth]

Privatize the profits, socialize the losses.

I have no sympathy for the Texans that signed up for the BoBo Wet Dream Electric plan. "Griddy" offered electricity to homes at the spot market rate....which meant that the free-market-uber-alles crowd could save substantially when demand was low.

Not so much when the spot price gets enormously high. There was a 30% shortage in electrical power this past week due to Republican neglect of the Texas power grid, so the spot price rose from $20 Kwh to $9000 kwh.

Griddy saw this spike coming so it pleaded with customers to switch to conventional plans. Their glibertarian customer base waited until the last minute to switch off their wholesale plan, but didn't figure on icy roads. Icy roads meant that non-essential people stayed home most of last week, and clerks signing up people for new electric service were non-essential.

So the griddy customers were trapped in their spot market plans, and ended up being charged $500 to $1000 per DAY in electric cost for their residences.

So so unfair that they could not get immediate gratification and save money.

I've got zero sympathy for them. They gambled bigly and lost.

That's the deregulation way.

 

[CornusKousa]

The State created this mess. The State should pay those bills, or nullify them.

IT SHOULD!!!

But that's alt-reich Trumpster thinking......

Aren't you glad you're being economically fucked for Texas's stupidity?

It's PROGRESS!!!

 

[Dribble]

I stand where I stood on Day 1 of this crisis...fuck Texans. They voted for this...let them deal with it. Bunch of whiners...don't like what you are experiencing? Vote to change it. There are far better candidates across America that are deserving of help.

 

[LLCox]

I thought Texas wanted to secede.

 

[phrodeau]

I can be counted on to aid my neighbors when they ask for help. My neighbors can be counted on not to ask.

 

[Liar]

I have no sympathy for the Texans that signed up for the BoBo Wet Dream Electric plan. "Griddy" offered electricity to homes at the spot market rate....which meant that the free-market-uber-alles crowd could save substantially when demand was low.

Not so much when the spot price gets enormously high. There was a 30% shortage in electrical power this past week due to Republican neglect of the Texas power grid, so the spot price rose from $20 Kwh to $9000 kwh.

Griddy saw this spike coming so it pleaded with customers to switch to conventional plans. Their glibertarian customer base waited until the last minute to switch off their wholesale plan, but didn't figure on icy roads. Icy roads meant that non-essential people stayed home most of last week, and clerks signing up people for new electric service were non-essential.

So the griddy customers were trapped in their spot market plans, and ended up being charged $500 to $1000 per DAY in electric cost for their residences.

So so unfair that they could not get immediate gratification and save money.

I've got zero sympathy for them. They gambled bigly and lost.

That's the deregulation way.

Yep. This is pretty much the equivalence of skipping health insurance becuase aspirin works most of the time. And then you get hit by a truck.

Only real question here is, was the risk communicated clearly enough?

 

[WillJ8787]

Yep. This is pretty much the equivalence of skipping health insurance becuase aspirin works most of the time. And then you get hit by a truck.

Only real question here is, was the risk communicated clearly enough?

Ah, the "weasel words" were probably communicated in print so fine you would need a microscope to read them or said so fast you would need a slow no button to understand the words.

 

[RobDownSouth]

Ah, the "weasel words" were probably communicated in print so fine you would need a microscope to read them or said so fast you would need a slow no button to understand the words.

I'm going to disagree here. Griddy makes a fixed amount on each Kwh sold, and passes the rest on as savings to the consumer....and as people are finding out, they pass along the huge upticks in their cost as well.

Griddy knew the storm was coming and begged customers to switch to conventional power suppliers, but few did, because they've never experienced a huge increase before...and as I said, the other power companies were stressed due to outages and accepting new customers during a winter storm was not high on their priorities.

I'm sure the "right to immediate gratification" will be litigated in court sooner or later.