In Texas, after the terrible cold snap that killed at least 70 people, many inhabitants lack drinking water. There is an unexpected and incredible consequence: Texans’ electric bill skyrocketed to $ 17,000.
Some Texans are in the sense first freeze to death, which others have died trying to heat up. Those who could still turn on the heating lights considered themselves lucky. Today, some countries do it at a high price.
Scott, 63, lives in the suburbs of Dallas. And it was he who received a bill for $ 17,000. To be precise, $ 16,752. He went beyond receiving an invoice, as the amount was debited from his credit card. “My savings are gone,” said the military veteran. That’s 70 times what you usually pay for all those bills.
Another example reported by a mother who paid $ 6,200 this month. This is five times more than these annual expenses. Even if we get out of these extreme cases, electricity costs have reached on average $ 100 per day for thousands of Texans.
A poorly regulated energy market
These bills are in part the result of the unregulated energy market in Texas. The only state that manages the distribution of its electricity by itself. Customers can choose from 220 providers.
Some providers set their price based on supply and demand. Most Texans Who End Up With Exponential Bills are clients of “Greedy” : a Houston company that supplies electricity at wholesale prices.
With this provider, prices change rapidly based on supply and demand. It is often interesting. But last week with him temperatures falling up to -18 °, demand has skyrocketed.
Washington releases emergency funds
With wind turbines and gas plants out of service, electricity has become scarce. Rare is expensive and here it has become exorbitant. About 30,000 customers would be affected. Seeing what was to come the company “Greedy” would have even advised its clients to switch quickly supplier, because he could no longer act. But not all had the reflection or the time.
Do these unfortunate consumers have a chance to get all or part of their money back? Without a doubt, because the matter is causing a stir. It symbolizes the derivations of a system. And journalists will be alert to the consequences.
This weekend the governor of Texas called a meeting to discuss the matter. Democrats and Republicans agree to find a solution and save these thousands of Texans from paying these astronomical sums. And then Washington also releases emergency funds for Texas. In particular, they could be intended to pay your bills.