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/sci/ - Science & Math

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12748173 No.12748173 [Reply] [Original]

Is there any legit explanation for this or is it just Americanomics where companies can destroy peoples lives freely?

>> No.12748176

>>12748173
>is it just Americanomics where companies can destroy peoples lives freely?
It's just that. Nothing else much to it.

>> No.12748193

This was a voluntary association that SOME people chose to participate in. Some distribution companies buy power wholesale and the customers can get really good deals in normal times. This was not the prices you would see normally, just those who chose to buy in this way.

>> No.12748199

>>12748173
>Is there any legit explanation for this or is it just Americanomics where companies can destroy peoples lives freely?
Yes, ESPECIALLY in Texas.

>> No.12748202

>>12748193
By "voluntary association that some people chose to participate in" do you mean an actual association or a 20 pages contract filled with legal verborrhea that people who just wanted to get power to their homes agreed to without actually knowing what they were agreeing to?

>> No.12748210

>>12748202
This. Any sensible country would have consumer protections in place to stop this kind of predatory behaviour. Think a 70yr old pensioner said he had to fork over $60k Usd that he doesnt have yet

>> No.12748229

>>12748173
Can someone give an actual explanation for why the power bills increased so much? I haven't been paying attention much.
"MUH CAPITALISM" or "MUH JOOS" are not explanations and if you think they are I'd like to remind you to take your medication according to how it was prescribed by your licensed medical professional.

>> No.12748238

>>12748173
They shouldn't have used the electricity if they knew they wouldn't be able to afford it.

>> No.12748258

>>12748229
Supply and demand. So the demand went up and the supply went down, so any power used at the time skyrocketed in price.

>> No.12748321
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12748321

>>12748229
Capitalism.

>> No.12748336

You got a better way to denominate tail risk and efficiently incentivize hedging than market pricing, there's probably a Nobel prize in it for you.

>> No.12748388

>>12748202
>>12748210
The "power company" doesn't offer this directly. You have to go with a company called Griddly to get these rates. It's not the default. It's not easy to get. No one was tricked into it. The customers were people who had gone out of their way to join up with a startup commodity trading platform. Griddly, and a handful of competitors, give you the spot market price, which is what electric distributors pay. That means it's often cheaper than what those distributors sell it to you for. It also means if the price goes up, you pay the higher price. If you're like 99.999999% of customers, you go with the normal power company and are insulated against swings in the energy market. But a very small number of people felt like turning their power bill into a casino and are mad that sometimes instead of winning, you lose.
No one accidentally chose this option. No one was tricked. You want society to pick up the cost of their mistakes? What's next, retroactive car insurance that you buy after getting into a wreck?
Fuck it, I'm going to Las Vegas and am going to demand the government pay me back for any money I lose. According to people like you, that's the moral thing to do.

>> No.12748400

>>12748388
Fair enough. That does sound like it's their own damn fault.