Forums59
Topics1,039,277
Posts13,962,162
Members144,197
|
Most Online39,925 Dec 30th, 2023
|
|
Variable rate electricity plans
#13900579
02/24/21 06:40 PM
|
Joined: Aug 2006
Posts: 11,999
lakeforkfisherman
OP
Elliptical Mechanic
|
OP
Elliptical Mechanic
Joined: Aug 2006
Posts: 11,999 |
I read where a Texas resident has filed a class-action lawsuit against Griddy for super high electric bill following last week’s historic low temps. Admittedly, I don’t know a lot about the case, but on the surface- I’m not sure I can sympathize with the consumer much here. They signed up to pay a variable electric rate driven by supply & demand (which is nothing new). They agreed to share that risk with the power provider. I think the case will get tossed or reduced somehow. If there were deceptive sales practices that influenced the buyers decision- different story.
Your thoughts?
LET’S GO BRANDON!!!
|
|
Re: Variable rate electricity plans
[Re: lakeforkfisherman]
#13900581
02/24/21 06:43 PM
|
Joined: Oct 2005
Posts: 85,945
John175☮
MACHO MAN
|
MACHO MAN
Joined: Oct 2005
Posts: 85,945 |
They signed a contract and took the low cost advantage and now they want to back out of the deal.
Nope.
“Do not pray for easier lives. Pray to be stronger men.” -JFK
|
|
Re: Variable rate electricity plans
[Re: lakeforkfisherman]
#13900589
02/24/21 06:54 PM
|
Joined: May 2014
Posts: 5,659
PondFish
TFF Celebrity
|
TFF Celebrity
Joined: May 2014
Posts: 5,659 |
Griddy probably won't be around much longer. Lots of different sorts of lawsuits coming their way.
|
|
Re: Variable rate electricity plans
[Re: lakeforkfisherman]
#13900602
02/24/21 07:01 PM
|
Joined: Sep 2008
Posts: 121,172
hopalong
Pescador Loco
|
Pescador Loco
Joined: Sep 2008
Posts: 121,172 |
I can see a rate hike during what happened, what I can't see is cost going from 50$ to 9,000.00 mwh.
seems to me to be the same as a gas station price gouging right after a hurricane or tornado.
both the ranch (I have no idea of the bills) and my trailer at fork are on coop power so I think we are safe.
|
|
Re: Variable rate electricity plans
[Re: lakeforkfisherman]
#13900605
02/24/21 07:04 PM
|
Joined: Sep 2016
Posts: 9,442
Floon Swenson
TFF Celebrity
|
TFF Celebrity
Joined: Sep 2016
Posts: 9,442 |
Peak Power Rate Surge Insurance.
There's my lunch hour idea.
|
|
Re: Variable rate electricity plans
[Re: hopalong]
#13900608
02/24/21 07:10 PM
|
Joined: Aug 2006
Posts: 18,129
COFF
TFF Guru
|
TFF Guru
Joined: Aug 2006
Posts: 18,129 |
I can see a rate hike during what happened, what I can't see is cost going from 50$ to 9,000.00 mwh.
seems to me to be the same as a gas station price gouging right after a hurricane or tornado.
both the ranch (I have no idea of the bills) and my trailer at fork are on coop power so I think we are safe. I agree with you in principal. But if the rate escalation is defined in the variable rate plan, then it changes the game alltogether. Contracts have consequences.
|
|
Re: Variable rate electricity plans
[Re: lakeforkfisherman]
#13900622
02/24/21 07:25 PM
|
Joined: Oct 2012
Posts: 25,338
ReelBusy
TFF Guru
|
TFF Guru
Joined: Oct 2012
Posts: 25,338 |
My business I read where a Texas resident has filed a class-action lawsuit against Griddy for super high electric bill following last week’s historic low temps. Admittedly, I don’t know a lot about the case, but on the surface- I’m not sure I can sympathize with the consumer much here. They signed up to pay a variable electric rate driven by supply & demand (which is nothing new). They agreed to share that risk with the power provider. I think the case will get tossed or reduced somehow. If there were deceptive sales practices that influenced the buyers decision- different story.
Your thoughts? Variable rate with notice or no notice?
|
|
Re: Variable rate electricity plans
[Re: lakeforkfisherman]
#13900623
02/24/21 07:25 PM
|
Joined: Jul 2010
Posts: 9,520
TR176
TFF Celebrity
|
TFF Celebrity
Joined: Jul 2010
Posts: 9,520 |
So what it is hard to get $ from something that is bankrupt.
|
|
Re: Variable rate electricity plans
[Re: lakeforkfisherman]
#13900697
02/24/21 08:20 PM
|
Joined: Jul 2007
Posts: 12,395
RipDaLips
Old n Crusty
|
Old n Crusty
Joined: Jul 2007
Posts: 12,395 |
That is one of the advantages of using Energy Ogre, they won't sign you up for any variable rates. They use fixed rate providers only.
Some folks mouths, flat out runs their minds.
|
|
Re: Variable rate electricity plans
[Re: RipDaLips]
#13900730
02/24/21 08:40 PM
|
Joined: Mar 2012
Posts: 11,008
BigDozer66
TFF Guru
|
TFF Guru
Joined: Mar 2012
Posts: 11,008 |
That is one of the advantages of using Energy Ogre, they won't sign you up for any variable rates. They use fixed rate providers only.
2016 Ranger RT188 Charcoal Metallic Dual Console 2017 Yamaha 115 VMAX SHO (VF115LA) SS Prop Minn Kota Ultrex i-Pilot Link 45" 80 lb. Humminbird Helix 10 Mega SI BalZout Console Humminbird Helix 10 Mega SI BBT Bow Mount Trick Step
|
|
Re: Variable rate electricity plans
[Re: lakeforkfisherman]
#13900744
02/24/21 08:53 PM
|
Joined: Apr 2014
Posts: 8,388
Jpurdue
TFF Celebrity
|
TFF Celebrity
Joined: Apr 2014
Posts: 8,388 |
My initial reaction is that they signed up for the variable rate. The contract was black and white. In the past 520 weeks someone with a variable rate would probably have come out ahead of a fixed rate 518 of the those weeks by 1 or 2 cents per KW on average. Last week and a week in August of 2019 is when they would have lost everything and then some on the plan.
My only counter argument for the consumer is that they could argue negligence against the energy providers. The storm was forecasted a week in advance. They should have taken the necessary precautions to protect power generation and make more capacity available. Their failure to do so led to the huge spike in the price per KW.
In general though I don't have much sympathy for them. They gambled, they lost.
"Bragging may not bring happiness, but no man having caught a large fish goes home through an alley." -A.L. www.LunkerLore.com
|
|
Re: Variable rate electricity plans
[Re: Jpurdue]
#13900753
02/24/21 09:03 PM
|
Joined: Oct 2012
Posts: 25,338
ReelBusy
TFF Guru
|
TFF Guru
Joined: Oct 2012
Posts: 25,338 |
One scenario is the customer contract ended and of course there isn't any notification or indication on the statement that anything changed (other than the higher rate). As a result the customer was defaulted to a m-t-m variable rate.
I was caught in this situation at my business after a 4 year contract ended and was in the process of moving to a new contract but didn't get it completed before the deep freeze hit. The provider made the gamble, not me.
|
|
Re: Variable rate electricity plans
[Re: lakeforkfisherman]
#13900767
02/24/21 09:12 PM
|
Joined: Aug 2006
Posts: 4,011
machinist
TFF Team Angler
|
TFF Team Angler
Joined: Aug 2006
Posts: 4,011 |
how can they charge you for the $9,000 MWs if you didn't have power at that time? If your power was off you couldn't have used any of the high dollar MWs.
I fish on the edge and stay out of the middle
99 BassCat Jag w/225 Merc Optimax Retired TXU Outage Manager
|
|
Re: Variable rate electricity plans
[Re: RipDaLips]
#13900770
02/24/21 09:17 PM
|
Joined: Nov 2009
Posts: 39,379
Dan90210 ☮
Jr Deputy Dan
|
Jr Deputy Dan
Joined: Nov 2009
Posts: 39,379 |
That is one of the advantages of using Energy Ogre, they won't sign you up for any variable rates. They use fixed rate providers only. Very happy with them so far!
|
|
Re: Variable rate electricity plans
[Re: Jpurdue]
#13900773
02/24/21 09:23 PM
|
Joined: Nov 2009
Posts: 39,379
Dan90210 ☮
Jr Deputy Dan
|
Jr Deputy Dan
Joined: Nov 2009
Posts: 39,379 |
My only counter argument for the consumer is that they could argue negligence against the energy providers. The storm was forecasted a week in advance. They should have taken the necessary precautions to protect power generation and make more capacity available. Their failure to do so led to the huge spike in the price per KW.
In general though I don't have much sympathy for them. They gambled, they lost.
That was my first thought. Plaintiffs say you did not due YOUR due diligence to protect me from a known high risk event. YOU were trying to save money and did so at my expense ultimately. I got exposed to YOUR risk taking. You did not follow best practices and recommendations from ERCOT (they have their own problems coming) and now I am to blame? I have to pay? YOU in fact gambled and lost and now expect me to eat it? No way pal!! Go to hades and here are my 168 lawyers ready to make your life hell for the next few years. **Not saying I agree with that. But I can for sure see that being an argument.
|
|
Moderated by banker-always fishing, chickenman, Derek 🐝, Duck_Hunter, Fish Killer, J-2, Jacob, Jons3825, JustWingem, Nocona Brian, Toon-Troller, Uncle Zeek, Weekender1
|