Icy Weather Makes Some Electricity Bills in West Texas Soar to Over $1,000
The icy weather that put all of us out of commission, even our radio station, now is causing sky high electric bills.
According to the Midland Reporter-Telegram, the increase in bills is hitting people who have chosen wholesale prices for their power.
That is usually the cheaper option when the weather is normal but when there is a sudden increase in demand, that will drive the price up.
Some people are seeing bills anywhere from $1,000-20,000 on this fluctuating wholesale rate which if you are on a fixed income it can be devastating.
But if you do get this kind of bill you can get it brought back down to normal, correct?
That is not always the case, since you signed up for a variable rate you are basically saying you will pay whatever that rate is so you will be stuck with that bill that could be 4 or 5 digits before the decimal point.
It is also unclear if those people who get those high bills will get financial help.
Gov. Greg Abbott said he will work with the state legislature this week to talk about the unusually high bills and help Texans find a way to get relief from these bills.
For now the state has stopped the energy companies from shutting off power for non-payment.
But bailing out customers could be tough because they took the wholesale option and agreed to the fluctuation in prices and may not be able to get out of the increased bills.
Moral of the story, if you don't get a set rate, you are saying you are alright with $10,000 electric bills, so go with a set rate to prevent this from happening in the future.