Texas Big Freeze

Joey Shabadoo

My pronouns are "He", "Him" and "buggerlugs"
Isn't cold just god's way of telling us to burn more Catholics?
 
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There is much social media chatter about massive price spikes in electricity and residents being saddled with enormous bills. It's hard to separate the fact from the hyperbole. If you know, what is the situation on this?

Of course, stay safe and stay warm :okay:
Some folks sign up for multi-year fixed rate electricity contracts that lock in how much you pay for each kilowatt hour. Some don't and have to pay the going rate each month. Two things are going to happen, those paying the going rate may face massive increases in prices, with some estimates going from 12 cents per KWH to 900 cents per kwh. Leading to power bills in the thousand rather than the hundreds. Most people have fixed rate contracts, and the biggest hit will be on corporations who buy electricity based on daily demand and price, e.g. Oil Companies. The second thing that's going to happen is that many electrical suppliers especially the small guys, are about to go bankrupt because they won't be able to pass on new prices to customers locked into fixed rate contracts. So even folks on fixed rate contracts may find their supplier disappears and will therefore need to shop around for a new contract at no doubt high prices.
 
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