Let’s just hope prices don’t spike to summer 2011 levels. Now, with the cap raised to 9,000 it would be much worse this time around!
Keep a couple things in mind: 1) The grid is completely different today than it was back then. There is much more available generation, including a huge amount of wind and solar generation (which has zero marginal cost and tends to bring average prices down);
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2) You would pay for it now or pay for it later. After 2011, fixed price contracts skyrocketed as energy companies looked to recoup losses & feared another big price blowout.Another blowout never came, but consumers still paid the price and energy companies pocketed the diff.
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At least with Griddy, you'll only pay for the price spikes when they happen, as opposed to paying for them with every kWh you use 24 hours a day, 7 days a week.
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