ERCOT comes up short in paying it's bills...but has socialized solution

[WillJ8787]

Source:
https://www.foxbusiness.com/energy/texas-power-market-is-short-2-1-billion-in-payments-after-freeze

"when market participants cannot pay their bills, Ercot spreads the costs among remaining electric retailers, municipal power companies and others purchasing electricity."

Was it Robdownsouth who said it first, " privatized profits but socialized losses."

Yet again, evidence that a purely capitalistic system will resort to a socialism system to absorb losses....it's true of banking, the housing market, the auto market, healthcare across the entire country and now in plain view in Texas

 

[CornusKousa]

Source:
https://www.foxbusiness.com/energy/texas-power-market-is-short-2-1-billion-in-payments-after-freeze

"when market participants cannot pay their bills, Ercot spreads the costs among remaining electric retailers, municipal power companies and others purchasing electricity."

Was it Robdownsouth who said it first, " privatized profits but socialized losses."

Yet again, evidence that a purely capitalistic system will resort to a socialism system to absorb losses....it's true of banking, the housing market, the auto market, healthcare across the entire country and now in plain view in Texas

So where is the socialism??

I'm not seeing the collectivizing of the losses.

The people who don't use that shit aren't going to pay for it.

 

[WillJ8787]

So where is the socialism??

I'm not seeing the collectivizing of the losses.

The people who don't use that shit aren't going to pay for it.

Folks now have to pay for Electricity others used.

 

[CornusKousa]

Folks now have to pay for Electricity others used.

Right.....by edict of the private company that they voluntarily engaged in business with.

Meaning if you didn't get into bed with that company, you're not paying for others shit.

Right??

 

[WillJ8787]

Right.....by edict of the private company that they voluntarily engaged in business with.

Meaning if you didn't get into bed with that company, you're not paying for others shit.

Right??

By promising(selling) ultra low energy rates and hiding the variable rate reality(scam) in fine print weasel words. Hmmm....public company.does this bad!....private company does this good!...strange logic.

 

[Champakian]

By promising(selling) ultra low energy rates and hiding the variable rate reality(scam) in fine print weasel words. Hmmm....public company.does this bad!....private company does this good!...strange logic.

Again with the random periods...

 

[CornusKousa]

By promising(selling) ultra low energy rates and hiding the variable rate reality(scam) in fine print weasel words.

Not reading your contractual agreements doesn't alleviate you of the responsibility of their contents.

Hmmm....public company.does this bad!....private company does this good!...

No...."fine print" is neither good nor bad, it's just the way it is.

People try to play the victim and justify it with ignorance but that's buuu shit.

You or your lawyer/company rep. etc. got a copy of the agreement and signed it.

strange logic.

Not when you consider the private company can't send men with guns after you to collect or toss you in prison...the government (public) can.

Free exchange with other people, or forced participation via government authority.

I prefer free exchange.....because liberal.

You seemingly prefer state control and forced participation, because like most leftist you seem to lean authoritarian.

Which is fine, it's just not very Texas though....or USA for that matter.

 

[WillJ8787]

Please provide one example of the "govt" coming with guns to take you to prison for not paying your electric bill.

And, the reason we will see bankruptcy after bankruptcy in Texas is because people will not be paying for negligence and possibly fraud on the part of Ercot and some providers...the fine print will not matter as it often does not.

A class in basic contract law is all you need to understand why that is.

 

[CornusKousa]

Please provide one example of the "govt" coming with guns to take you to prison for not paying your electric bill.

Well, we don't have socialism or fascism yet so I don't have one in the USA.

(D)'s haven't found a way to nationalize the energy industry yet....still working on HC.

But by observing what happens when you don't pay the government in EVERY other situation?
https://media1.tenor.com/images/2342b7ad55eee1958e83839d510f33a5/tenor.gif?itemid=19087989

I'm 100% sure, if the government becomes the electric company? Not paying your bills will result in the same response from the state.

And, the reason we will see bankruptcy after bankruptcy in Texas is because people will not be paying for negligence and possibly fraud on the part of Ercot and some providers...the fine print will not matter as it often does not.

Then ERCOT will go out if business and life goes on.

Just my humble opinion..... but bankruptcy > gulag.

A class in basic contract law is all you need to understand why that is.

Another thing that is different with the government.

That fine print matters WAY more when you're dealing with the government. Ask any soldier that's ever been hit with 'stop loss' orders.

 

[Champakian]

They don't need guns.

They just shut them off until you pay.

 

[CornusKousa]

They don't need guns.

They just shut them off until you pay.

Now that's cruel and unusual punishment.....can't just leave people out in the cold/heat.

If they can't pay then they must be taken into custody comrade.

https://religionmediacentre.org.uk/wp-content/uploads/2021/01/uyghurs-Xinjiang-Judicial-Administration.jpg

Of course to pay for that custody, they'll need some labor out of you.

 

[freakyguy41]

Please provide one example of the "govt" coming with guns to take you to prison for not paying your electric bill.

And, the reason we will see bankruptcy after bankruptcy in Texas is because people will not be paying for negligence and possibly fraud on the part of Ercot and some providers...the fine print will not matter as it often does not.

A class in basic contract law is all you need to understand why that is.

I think you'll find we all pay for every businesses' shrink within their products and services' prices.

It's precisely why 99% of financial crimes pay and planned bankruptcies pay. Example... if you shoplift from Walmart, they just throw you out of the store... there's no prosecution because it costs Walmart too much $ to participate in the prosecution. But the cost of everything previously shoplifted is then built into the price of all other products. Average retailer shrink is around 1% and most is taken by employees. Costco is criticized by Wall Street for paying its employees more $ but, as a result of doing so, Costco employees steal far less than other retailer employees and Costco employees are nicer to customers plus they tend to stay as an employee longer so Costco saves on training. The point being... regardless of the type of business... the shrink losses are calculated and factored into the prices charged to paying customers and they influence business strategies.

Now whenever you buy something... you can look at it and know that one out of every hundred is a loss to the company... and you're paying an additional 0.01% to 0.015% of the price for that loss.

 

[CornusKousa]

I think you'll find we all pay for every businesses' shrink within their products and services' prices.

It's precisely why 99% of financial crimes pay and planned bankruptcies pay. Example... if you shoplift from Walmart, they just throw you out of the store... there's no prosecution because it costs Walmart too much $ to participate in the prosecution. But the cost of everything previously shoplifted is then built into the price of all other products. Average retailer shrink is around 1% and most is taken by employees. Costco is criticized by Wall Street for paying its employees more $ but, as a result of doing so, Costco employees steal far less than other retailer employees and Costco employees are nicer to customers plus they tend to stay as an employee longer so Costco saves on training. The point being... regardless of the type of business... the shrink losses are calculated and factored into the prices charged to paying customers and they influence business strategies.

Now whenever you buy something... you can look at it and know that one out of every hundred is a loss to the company... and you're paying an additional 0.01% to 0.015% of the price for that loss.

Taxes...losses...every single penny comes out of the consumers pocket.

 

[RobDownSouth]

I think you'll find we all pay for every businesses' shrink within their products and services' prices.

It's precisely why 99% of financial crimes pay and planned bankruptcies pay. Example... if you shoplift from Walmart, they just throw you out of the store... there's no prosecution because it costs Walmart too much $ to participate in the prosecution. But the cost of everything previously shoplifted is then built into the price of all other products. Average retailer shrink is around 1% and most is taken by employees. Costco is criticized by Wall Street for paying its employees more $ but, as a result of doing so, Costco employees steal far less than other retailer employees and Costco employees are nicer to customers plus they tend to stay as an employee longer so Costco saves on training. The point being... regardless of the type of business... the shrink losses are calculated and factored into the prices charged to paying customers and they influence business strategies.

Now whenever you buy something... you can look at it and know that one out of every hundred is a loss to the company... and you're paying an additional 0.01% to 0.015% of the price for that loss.

Your info is a little out of date. Since 2006, Walmart kicks you out of the store if the total of shoplifted goods is less than $25. Over $25 dollars and they press charges. Over $1000 and they press grand theft charges (Walmart sells stuff for over $1000?)