How Texans Are Dealing With Outrageous Power Bills After Freezing Weather Subsides | NBC News NOW

Birt 22 feb 2021
Many Texans are facing sky high electricity bills, some charged thousands of dollars for just the past few days due to the freezing weather. NBC News’ Stephanie Ruhle talks to a Texas resident who usually spends 49 dollars a month in electricity, and had a recent bill of 4,000 dollars.
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#Texans #FreezingWeather #NBCNews
How Texans Are Dealing With Outrageous Power Bills After Freezing Weather Subsides | NBC News NOW

Ummæli

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  • People can say a lot,that means they were not informed of the Scandal and people need to get together go collect their money back Joe Biden should have stepped in and protected these people but instead he didn't do nothing

  • Best thing to do is shut that electric company now bringing a new company

  • Hey moron Cruz & Abbott, what happen, you guys always said Red State doesn't need bail out, only blue State does? So, what happen now? Hey Texas, vote these two people out of office

  • Always take fixed price. Might be pit price but it wont pite in the butt like this later

  • I always new one day they start whining. Texas guess what you voted for it, you re-elected Ted Cruz sit on it. Where's the Klan or the proud Boys go get help from them.

  • Greed is the answer

  • Solution: Write a letter to Ted Cruz for a free Cancun trip

  • God's plan. 🖕🤣🖕 MAGAs

  • That's what yall get MAGA nazis. 😂🤣😂🤣

  • Ted Cruz booking a Cabo trip on his phone he's a hard working politician for the state of Texas

  • I live here in texas, this storm was totally unexpected, sky high energy bill due to the storm was unexpected. This was totally wrong, my family was grateful that we survived with our 2 little babies through that winter storm. Something definitely has to be done about this.

    • Um sir this is a republican state, some democrats but the majority republican

    • You need to get the greed of you businessmen under control Shereka Taylor. I live in a "RED STATE" my state legislature is all Republican we voted to made sure to weather proof our power plants against "heat" and the "cold".

  • There is a right way, a wrong way ... and a Texas way.

  • I feel sorry for ppl in Texas . I complain when my light bill is over $90. Then they're stuck with it. 😬 Greedy companies, how dare they try to make us pay for mother nature

  • There's not really much good in Texas is thereyou should pour gas on it light it burn it to The ground salt the ground so nothing grows there ever again

    • Speak for yourself. There's plenty of good stuff here.

  • I’m so troubled my 2nd home is cold while the kid is dying in a trailer home get the “F”. Out of here Pay the dam bill

  • Like California when Christmas comes my bill goes up no matter what every one knows that

    • This guy gambled with electricity prices and lost. He should've had a fixed-rate plan.

  • That’s what u vote for

    • This is stupid. No one voted for this. This is a problem of his own making.

  • Dang lesson learned. Do not.do auto deposit for bills. Pay it manually every month

    • WRONG! Lesson learned: buy a fixed-rate energy plan, not a wholesale one

  • Don't pay it.

    • Great idea, then he'd ruin his credit. Pay your bills, deadbeat

  • I guess moving from California to Texas was a waste...$$$

    • Probably not, but he was gambling with energy prices and should've gotten a fixed-rate plan

  • Dear Texans deregulation SUCKS.

    • @Mike Thomas How so? The company only got $10/customer/month. Yeah, real greedy.

    • Well, it mostly "Greed".

    • Actually, it's pretty awesome. Unlike this dummy, I have a fixed-rate plan and I pay $0.036/kWh.

  • hahaha capitalism at its finest

    • This guy was gambling with energy prices and lost. He should've gotten a fixed-rate plan

  • How do you have an outrageous power bill for Electricity you never Got????

    • You don't. If your electricity is off you don't pay for it. Duh

  • Charging 1000s of dollars and not giving them power hahahahahaa robber's and crooks at its finest!!

    • This is dumb. If your electricity is off you don't pay for electricity.

  • File bankruptcy

    • Yep, if he can't or won't pay, this is basically his option, or have your credit ruined. He could just let it go into collections and see how hard they come after him for it

  • Individuals signed up for market pricing, betting they would come out ahead over set pricing from the power company, they lost that bet. If you're going to Vegas you don't get to wine when you lose.

    • _Precisely_

  • What a scam on the people... Were sorry about the electric system breaking down now pay us for your 2-4K power bill.

    • ​@JeepZJ 101 The company charged customers $10/month. That gave them access to wholesale rates which are typically lower than retail and sometimes negative, but are free-market rates and subject to market influences. However, most people, like me, have fixed-rate electricity plans. Obviously, your average retail homeowner isn't expecting $1k+ power bills, but most recognize that exorbitant bills are possible if rates go crazy. These people discounted the likelihood of an event crippling markets and screwing them over. They got what they deserve and shouldn't have been near a plan like this. But even when electricity prices went to $9/kWh, still continued to use power? Like, wtf?

    • @gw ok sure... That makes it right? and I don't believe people agreed to pay those prices, nobody would genius. Most people can't afford 2-5k power bills but sure you're right tho. 👏👏

    • There's no scam dummy. he paid for what he used. He signed up to pay market rates trying to save some money. Lesson: don't gamble with electricity prices

  • Let's make sure that FEMA funding doesn't line the pockets of stockholders. Use that funding for home repairs. Allow the electorate to vote out those who think this is a great idea.

  • Really if we can spend millions on foreign aid you would think our spending crazed political reps would just write a check. Its their corporate overlords demanding this ridiculous rate.

    • This is stupid, why bail out this dummy? He was gambling with electricity prices and lost

  • "Who needs food water and heat when you have good government?" -Old Soviet Proverb

  • What was that about California again

    • CA is slightly crazy. Home prices be like _wtf?!_ And no garages, haha. This guy gambled with electricity prices. SHould've had a fixed-rate plan.

  • Texas the Epicenter of those Mega-Churches with Rich Millionaire Pastors ,they all have to Start Paying Taxes ASAP!

  • Texas is a Republican State, the Whole World knows that, infact the Whole Milky Way Galaxy knows that too lol , and this Failure is the Result of their Policies. That Governor of Texas Greg Abbott needs to be Fired or he must Resign but instead he blame others, pointing fingers except himself . He is the "Cancer" of all Problems Texas is Facing now...

    • @Mike Thomas How so?

    • It "Greed" that what happen.

    • I'm not a republican, but this isn't political and if Beto would've gotten elected it still would've happened. Abbott is a pos and needs to go, but not because of this

  • Ask Ted Cruz! WTF! 🐑🐑🔥💩

    • I'm not a republican, but this isn't about politics. Cruz trying to leave the state was dumb af, though

  • Idiots !

    • Haha, yeah! This guy was a dumb dumb. That's what he gets for gambling with electricity prices

  • Texans: Keep your government out of our lives and business! Also Texans: Help Help! Someone in the government save us!

    • I don't think it's inconsistent to think it's the government's job to offer assistance when a natural disaster strikes, but also desire a free-market for energy trading

  • "Greedy "?

    • Who's greedy? The company makes $10/customer/month. This is dumb

  • Didn’t the private business fail to keep their system “winterized”??

    • To an extent. If we briefly dipped into freezing which happens every year it'd be fine. This was a "second-worst" cold storm and freezing spell. We don't see this stuff basically ever and it's hard to anticipate something like this.

  • Lol isnt it ironically funny that their electric bills were jacked up by a company named Griddy?

    • @Greg Rizal Comparing implies some sort of equivalence. The seller, Griddy, didn't increase their prices -- so it's not price gouging. They resell a commodity that is priced through a market. The price of something increasing is not an "abusive practice." Consumers/constituents have protections against unexpected price increases... they can enter into a contract for a fixed price. This is what most people do. Some decided they did not want that. Government should protect people from harm? So they should not allow anyone to live in Florida due to risk of hurricanes, or drive cars, or go skydiving, any innumerable things that people get injured doing? This occurred in 1989 when we were fully regulated. California is federally regulated and regularly has rolling blackouts with millions without electricity. Many Democratic-led states have deregulated energy. I have little love for Republicans, but this isn't about politics. If Beto was elected this still would've happened, except he probably wouldn't have tried to leave the state.

    • @gw Well you are stupid. I only compared the sudden increase of the price to stocks. I didnt said price gouging is like stocks. Price gouging is exploitative and it involves the seller increasing their products' price beyond what is reasonable, and because the Texas republican sc*ms deregulated their power suppliers, those crocs can do whatever they want. Electricity, like water, are public utilities that should be protected from abusive practices that will result in harm to the consumers.I guess Texas greedy demons think money they want to chase after are more important than their constituents who will be told this is for their own good.

    • @Greg Rizal Haha, this is stupid. You know how the price of gold typically goes up when stocks go down? Is that price gouging? It's a power market and electricity is a commodity, basically like oil, corn, metals, etc. Stocks aren't a commodity but they trade similarly in an open market. It's common across the US. And you don't have to buy it at wholesale rates -- most people don't! Get a fixed rate plan and quit gambling with electricity prices, assuming you have a choice. Open and book and learn something.

    • @gw Its called price gauging. Super cheap in normal times. Super expensive in abnormal times. Utilities are not supposed to be treated like stocks. Ppl got scammed because its "cheap" not knowing what will happen if it goes the other way. The government was supposed to protect them.

    • The bills weren't jacked up. Griddy just offers wholesale prices. They make $10/customer/month.

  • It's not confusing , evil companies.

    • @Irritating Indiana 1) The house always wins unless it's run by Trump -- the only man who could bankrupt a casino 2) I'm 100% for real 3) Don't buy wholesale electricity unhedged. How complicated is that? People who do that were basically doing the same thing the big banks were, which I'm sure you were griping about when they got bailouts. If you didn't support bailouts for banks then you shouldn't support bailouts for these people. It's the same reasoning why most people avoid or leave to professionals: shortselling stock, selling naked options, not carrying homeowner's insurance, driving without seatbelts, riding motorcycles without helmets, etc. How am I wrong?

    • @gw come on your gas lighting right? Surely

    • @gw the house always wins

    • @Irritating Indiana _Really?_ C'mon, you're smarter than that, right? If you want to say that only people with home solar systems and/or backups can only have this plan then, sure, but then you have idiots like you saying, "you're blocking access to low/negative prices to the 1% and making the rich richer!" The company offered access to wholesale prices. If someone takes that risk unhedged, and they aren't prepared for a supply squeeze then there are consequences

    • @gw gambling isn't allowed in Texas , as far as I know. Also gambling with utilities in your home should be illegal, maybe regulated. The house always wins, the home looses. Companies who write these plans know what they are doing.

  • So no one read the fine print?

    • _Exactly._ It would seem not.

  • They either pay or they will cut the electricity off again

    • yup

  • They must pay

  • It is non preparedness for disaster and lack of leadership...Texas have Senator who goes to vacation in the middle of a disaster and a governor who lacks accountability except to blame others for his lack of disaster.

    • Yes, but even if Beto was elected this still would've happened. It's not about politics.

  • only if they had solar penels things would have been cheaper.

  • They don’t deserve any handouts and they should have to pay every cent! After all that’s what an insensitive is. Plus if they do except any help it’s Socialism and I don’t think anyone in Texas wants Socialism!

  • The people of Texas chose this system believing their Governor would put regulations ( a cap ) on the amount the companies could increase payments but he failed to do so most likely because he is getting some type of kick backs.

  • Sorry Texas, but you guys signed up for that. No federal help without change.

  • The left waitress pathomorphologically subtract because event simultaneously raise beyond a high-pitched october. unhealthy, attractive key

  • They'll probably keep talking about this till 2022.

  • It’s still heavy traffic in the Bay Area, CA highways. More people need to leave to move to Texas or anywhere where there’s Arctic freezing weather.

  • The utilities are NOT paying more. That is a LIE!!!! They are raking in massive profits!!!!

  • What's your "Governor " for ??? Too busy for tanning

  • Perhaps before Texas secedes it should first learn to take care of itself.

  • Jacking energy bills after refusing to weatherize leaving the entire state in a crisis, is a crime. The company caused this problem. Tax payers should not have to foot the bill.

  • Utility Strike, people! Nobody pays until ERCOT dies and we get on the national grid! They can't shut us off if they can't pay their workers!

    • Getting on the national grid wouldn't change anything. CA has the most regulated grid in the nation and has blackouts like every year. ERCOT had nothing to do with this. Weather happens.

  • Beautiful wright wing of capitalism , keep voting republicans

    • I'm not a republican, but this isn't about politics

  • Well Repugnants.....free capitalism

  • it's time for Texas to join Russia, Putin does everything for the people, taxes are low, and health insurance is free

  • Thought about leaving California for Texas screw that is either going to be Vegas or Arizona now

  • Boo hoo to them. They voted for this. They should have to pay. Then maybe they'll wake up and vote progressive

  • 1) they do not winterize and go as far as having a *_stand alone grid to evade federal regulations_* (no one else does that if they CAN connect to a larger grid. Texas and maybe North Korea). 2) no backup from other states or Canada IF their (unprepared) providers fail 3) they fail misearbly 4) when they return to the grid they make up for lost revenue by price gouging. Which is illegal during an emergency btw 3) when it was the worst they lost 40 % of electricity production AND a lot of natural gas for HEATING (pipelines also not winterized) so people TRIED to compensate with electricity 4) when the unprepared providers finally returned to the grid they were able to charge extortion prices, way beyond their production costs. They had no or reduced revenue for a few days, but they can easily make up for that. There is no power from out of state that would solve the scarcity situation (so they could not profit from the scarcity situation THEY crated. Not only have the clients to live with the blackouts, and the damages (frozen pipe situation would have been much better) They pushed flexible pricing (which is not even a thing in other states).

  • Electricity leans strongly into direction of natural monopoly. Texas chose to have a race to the bottom regarding prices and to evade federal regulation (with the small costs for preparedness that the large energy use do not want) they chose to have a STAND ALONE GRID. It is a closed scene (to avoid the word "market").

  • This video failed it’s title. It did not even slightly explain how Texans are dealing with their power bills. I expect better of you, NBC.

  • Someone is LAUGHING ALL THE WAY to the bank. Probably a buddy of Rick Perry too.

  • It’s funny how the Jesus freaks don’t see ANY of this, as “God” giving them a sign that Conservative politics is going to destroy this country. 🤣

  • Texas wants to be its own government, nothing but stupid Republicans. Wake up America you can't fix stupid

  • ITS A SET UP!!!!,. management knows there's money to be made!! Similar to gas refinery explosion,. RESULTS HIGH GAS PRICES!!!

  • I paid the bill with Monopoly money and I received a text reply a few days later... "Thank you for your payment."

  • Wow.. The Name "Giddy" Sounds like a company you create just to collect, bankrupt and fold... Buut since theres no regulations theres no rules so that'd be totally legal. Texas, you are FOOLS if you continue to vote Republican.

  • This is the kind of things Texans celebrate. They made their collective bed now they need to lie in it. They need to understand that unregulated capitalism has its consequences.

  • I don't care about them, that's what they get for voting Republican, I hope they all suffer & have to pay all those thousands of dollars to those huge electric companies...

  • Ted Cruz should pay for all of Texan residents..

  • Band together Texans and go after these privately owned energy companies and go after your state government for allowing this to happen. Sue the crap out of them!

  • Zero sympathy for warming your second home.

  • Apparently this is funny to the rest of the country so much for "United".

  • Ahhh my old boi CAPITALISM. Isn't it BEAUTIFUL my fellow Texans/Americans?

  • Cannot wait Texas turns blue lol

  • First they fail to keep the power on, then they price gouge insanely. Law suits for a long time.

  • And now y'all want the government to be involved to save the day.

  • 😒WTF! 💡🧾🔦💸That's just some of the dumbest thing I ever heard. I understand if they used power. But if it's off how does the meter run to even count the usage. Watch the water company is next billing everyone.

  • If I was Biden, I would say you want bailed out. Fine, here is the money and there is going to be a tax on electricity to pay for it in Texas, and a nice little extra for the taxpayers in the rest of the country...we will reduce their electric Bill's by a corresponding amount

  • This is what happens with deregulation! SURPRISE, IDIOTS.

  • Probably tied to all these Bill Gates green energy mandates.

  • Hard to say who was at fault here but why did the power company's shut down in the first place.

  • How can the power price be so expensive when the power has been off?

    • I read that during an emergency price gouging is forbidden. Now the hotels might get away with it (the wife of Ted Cruz complained about high hotel prices in Texas, that gave them the idea to flee to Cancun. Cost flyin' Ted likely his 2024 presidential run ;) - but the energy providers are easier to catch, their business model is more standardized. And in the hotels the consumers at least knew the high prices in advance and could make an informed choice, we can assume that only wealthy individuals checked in for 1000 USD per night (I hope that was at least for 2 persons in a double).

    • providers failed to prepare. Texan politicians wanted a race to the bottome regarding electricity prices. Preparedness was not mandated, it would cut into profits. Worse: some providers have problems with the margins already, they are not going to invest if it is not a level playing field (with mandates). Federal regulations would have avoided the worst, at slightly higher prices. TX politicians want to attract industries that use a lot of energy and those companies (big donors) resent modestly higher prices (that would include the costs for reserves and making the equipment cold / heat proof). They could easily pay, they just do not want to. They pay those prices in all other states and in other nations. And TX politicians wanted those extremely low prices (with cutting corners) as special attraction of Texas (plus MORE big donors ! for them) so they can lure in companies from other states (states that are now supposed to bail them out via federal government). Tx politicians look good, lots of jobs, also jobs in construction. For geographic reasons some nations or regions must have a stand alone grid (separated by deserts, mountain ranges. Or islands) - but a nation or region that can, will connect to a larger grid. Only Texas - or maybe North Korea (If China accepts them, they would gladly cooperate with them, not sure if they are connected). Stand alone grids COST more, they also have to provide for all the reserves for emergencies by themselves (they miss out on the backup of other states). Or one nation or province has a surplus, so it helps with costs if they import and export. The Texas sitution is unique, because they have so much fossil fuels and they have a lot of consumption to match that. So they CAN be cheap despite being a closed "market". Their politicians will also do nothing to promote energy saving. After all their buddies cannot export much - not part of a larger grid - so they NEED high ongoing consumption _IN Texas._ but when they lose so much production they have extreme scarcity. They also do not store oil or gas. They get that from ongoing extraction. Well they had a lot of technical problems with that too because of the unusual cold. Then the providers returned to the grid. Households and companies got power again (sometimes). But the closed "market" had much higher demand than usual. Because of the cold and because they also lost natural gas for heating. No imports from out of state possible - the prices would be slightly higher but no extortion prices, the Southwest grid is large and includes Canada, some providers have reserves - 'cause federal regulations - and would gladly activate them for a reasonable price. If in a large net all keep _some_ reserves and can deliver the resources (power, food, staff....) in an emergency to the other participants than all participants can make do with less reserves and can still have a high level of resilience - compared to when they are on their own in an emergency. Some consumers have those "flexible" plans where the consumer prices are tied to the auction wholesale prices. Consumption is very differently throughout the season in Texas, normally it is the highest in summer. I guess it made sense for some consumers and no doubt was skillfully marketed. The wholesale auction prices rose to extrem levels because of the scarcity - because of an epic failure of political and industrial leadership.

    • They had extreme scarcity because they lost 40 % of electricity production (when it was the worst) and also the natural gas for heating, so demand for electricity shot up even more. - To avoid federal regulation (incl. the demand to winterize) Texas has a Stand Alone Grid. That means they do not export or import much form other states (if they do that they would be part of the grid and subject to regulation.) That means they do not have the infrastruture to get a lot of electricity from out of state in case of an emergency, they do not have the powerlines, never mind the legalities (maybe those could be overcome by emergency orders - of big bad federal government. but not lack of infrastructure) Normally Texas can produce the electricity they need. And some consumers opted for the flexible plans. They have higher prices in summer when electricity demand goes up, so consumers can save costs if they reduce consumption then. or they leave during summer and live there in the cooler seasons.

  • This is why I'm curious to know if that class-action lawsuit against the power company has merit. I mean if you sign up for it, they can increase the power based on usage.

  • The federal government and blue states should not be bailing out the bad ideas and reckless decisions of red states and their residents. It's just subsidizing stupidity.

  • The federal government shouldn’t pay. They didn’t want the gov let the businesses desk with it

  • How could you not know? What did they think deregulating meant?

  • Evolution of The Alamo!

  • There crying because They got exactly what they asked for Fuckum

  • I miss America

  • That is SO unfair it's Ercots fault not the customers! The people who were impacted by this shouldn't have to pay a dime! This is completely the fault of the company.

  • Don't pay the bill. What are they gonna do turn the power off...😏

  • Very good... new orleans, then puerto rico and now texas.... one by one... our nation is being destroyed... and no one has a problem with this

  • omg.. GET ANOTHER COMPANY TO FIX THIS

  • Welp 🤷🏽‍♀️ Texas.. u got what u asked for

  • Second home ...??? Oh boo hoo