While I don't agree with a.$5k charge, these customers signed up for market wholesale spot pricing. they've been saving money for quite some time until trading (gouging) drove it through the roof.
Tx and feds had the chance to bookend and limit energy trading and speculation back with Enron and Williams. Instead, they took sacrificial lambs and said “as long as trading side and producing side can't collude, let the trading market flourish. "
On the flip side, the large trading houses have been on the receiving end of bailouts and capital infusement.
So, should these customers have known they were in a variable, risk based plan? Yes. Should they be responsible for a 5k bill? No- not because they got hit with a realized risk, but because fuck the traders and system that permits energy price gouging and says charging 10x for bottled water in a hurricane is evil, but 10000x per kWh right now is “free market.“
While I don't agree with a.$5k charge, these customers signed up for market wholesale spot pricing. they've been saving money for quite some time until trading (gouging) drove it through the roof.
Tx and feds had the chance to bookend and limit energy trading and speculation back with Enron and Williams. Instead, they took sacrificial lambs and said “as long as trading side and producing side can't collude, let the trading market flourish. "
On the flip side, the large trading houses have been on the receiving end of bailouts and capital infusement.
So, should these customers have known they were in a variable, risk based plan? Yes. Should they be responsible for a 5k bill? No- not because they got hit with a realized risk, but because fuck the traders and system that permits energy price gouging and says charging 10x for bottled water in a hurricane is evil, but 10000x per kWh right now is “free market.“