Texas utility sued by AG over customers’ sky-high energy bills
Ken Paxton, the Texas AG is suing electricity provider Griddy for handing out massive bills to its customers during last month’s winter storm. The lawsuit follows Texas’ power grid manager effectively shutting down Griddy by revoking its access to the electricity market of the state. Instead of a fixed rate, Griddy charges $10 a month to give people a way to pay wholesale prices for electricity.
Good old Right wing ideology at work help the rich screw the poor
The Griddy customers signed a contract for a variable rate, they benefited from super cheap power for years and years then when the unregulated state run power grid fails because of cut corners and deregulation they get a massive bill and then cry and sue. 🤦♂️ I hope they lose the case. This is what an unregulated free market is, you need to learn from your mistakes. No bail outs.
Apparently Giddy actually urged it's customers to switch to different providers. Which implies that providing electricity has become extremely costly for Giddy. As absurd as the increase in prices are, there's actually a chance that it's directly proportion to the cost of providing electricity in these trying times for Texas. AKA, it might not have been price gouching, and their might be a legal and ethical debate about if Giddy should be operating at loss during Texas' state of emergency.
Not really seeing how anyone was misled here.
Might as well go green new deal if prices r this high
Sooo how about that free market
Yeah, price gouging rules take effect during Emergencies in Texas. Never been used against a utility though, so we'll see if it's strong enough.