Griddy is not profiting from these rates. Keep in mind that the other retailers are also paying these crazy wholesale rates. As they are passed on from the grid operator ERCOT.
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Not precisely true. Other retailers hedge, purchase in forward markets, and do off-market transactions to buy juice at less than wholesale.
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You're almost right. Any provider that sells physical electricity is buying that physical electricity from the grid at the real-time wholesale price.
End of conversation
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