Weekly Recap: 9/8-9/14 Griddy members had a great week last week! Griddy members paid 8.6c/kWh vs. the Texas average of 11.6c/kWh, which is 35% higher! We had no price spikes this week, leading to those lower prices! https://www.gogriddy.com/blog/uncategorized/weekly-price-recap-9-8-9-14/ …pic.twitter.com/jst0SxDQ6R
With that being said, before August, in the whole history of the US wholesale electricity market, the price had hit $9/kWh for a grand total of 10 minutes.
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Past performance is no guarantee of future results. More frequent and severe price spikes might be “the new normal” for a while—especially in summer. And then there are “Grey Swan” events like yesterday. Grey Swans are likely events, but unpredictable as to frequency & timing.
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That is exactly why we are looking into ways to better protect our members in the future. But this August also doesn't guarantee the same future results.
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