Texans who switched to companies like Griddy to buy their electricity at wholesale prices are now seeing HUGE bills

The price rose to as high as $9000 a megawatt-hour.

One power supplier, Griddy, told all 29,000 of its customers that they should switch to another provider as spot electricity prices soared to as high as $9,000 a megawatt-hour. https://t.co/CqQGE7W3AM

— Houston Chronicle (@HoustonChron) February 16, 2021

Yes, a “train wreck” is the proper term when rates go from $22 a megawatt-hour to $9000:

A “train wreck” of the TX energy market has seen the price in Houston go from $22/MW to about $9,000. One utility, Griddy, which sells power without locking in a price in advance, told retail patrons Tuesday to find another provider before they get socked with tremendous bills. https://t.co/AtodlK2DsC

— Aaron C. Davis (@byaaroncdavis) February 17, 2021

Griddy’s homepage, at the very least, acknowledges that “things suck right now”:

homepage right now for Griddy, one of the electricity retailers in TX pic.twitter.com/jCwwzEOSEW

— Sujeet Indap (@sindap) February 16, 2021

And people are starting to share their huge bills online:

@GregAbbott_TX hey there Mr. Governor, check this out, I made a switch From TXU To Griddy … Last Year I saved $1580.00. But look at what they do when ERCOT does rotating power outages…How dare they do that when I have been out of power for 3 days… pic.twitter.com/QC037WO7wD

— Loose Fonseca (@loosefonseca) February 17, 2021

It’s going to get worse, folks:

Friend of a friend just got this bill through griddy while going through rolling blackouts in a small house. This is extortion pic.twitter.com/wN9MEGHUAG

— Andrew Kochie (@AndrewKochie) February 17, 2021

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