.. or an article explaining this but didn't have much luck.. Would you happen to have one or know where I can find a website explaining this..

Thanks so much,

Lynda

This is the best explanation for $8000+ power bills in Texas.

: Copied and pasted from another post.

: "Seeing A LOT of misinformation regarding Texas power.
: Many of them focusing on the rare scenario where a couple
: people now have $8-10k power bills. This scenario being
: used to blast Texas's free market energy trade.

: $8k energy bills? Wait... That's ridiculous and shouldn't be

: allowed.

: Yes, it is ridiculous. But it should be allowed because it
: only happens to ridiculous people.

: I'll explain.

: Texas has a free market power co-op with 3 different layers.
: There are the energy producers. (Power plants) There are
: wholesale energy resellers. (Power companies) and then
: there are customers.

: Typically, wholesale companies buy energy from the power
: plants at rate which updates by the minute depending on
: supply and demand. Wholesale companies average out this
: cost over a month or even longer, and resell this energy to
: it's customers with a rate lock in.

: The vast majority of customers in Texas are part of this
: hierarchy. And the ones that are, are NOT ever going to see
: a $10k energy bill.

: So, why are some people getting them?

: Because Texas is a free market, and nothing stops individuals
: from registering to buy directly from power producers at
: wholesale prices.

: Doing this is quite literally the same as being a day trader
: in the stock market. You buy energy when the price is low.
: Only these people aren't actually reselling the energy they
: purchase. They are using it. Most of the time, if you
: conserve energy during peak hours and use power smartly,
: you can game the system and have $30-40 energy bills while
: your neighbor is paying $150.

: There are some very smart and crafty people who buy at
: wholesale prices. A lot of them use whole home battery
: systems where the house is powered by batteries during peak
: energy cost times and the batteries are recharged only
: during low energy cost times. Many go a step farther and
: use natural gas generators for use when energy costs spike
: above the price of natural gas.

: Then there are idiots. People who buy wholesale energy for the
: cost savings. But do not do anything to mitigate their
: risks.

: These are the idiots on the news with $10k power bills.

: The power companies even sent out advanced notices to
: individuals buying wholesale to stop and to get a locked
: rate plan from an energy company before the ice storm
: arrived."