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Where did I reject what the cold climate experts said? I simply stated what I directly observed during the storm; that the roads weren't the problem.
Thank you. While I think Ted Cruz is a clown, he's not wrong. Some Texans would prefer that, but I think most people see the need for balance and realize that some regulation is necessary. I think it's also worth mentioning that the vast majority of Texans had no idea what regulated vs deregulated really meant prior to the storm. Even people who did know, thought the competition was saving them money and had no idea the potential consequences.
I agree, those people are responsible for choosing those plans. I actually know a handful of people who were Griddy customers and they understood perfectly how it worked, they just never imagined the kind of price spike that they got slapped with. They also don't feel like the company took advantage of them as seems to be the national narrative.
My understanding is that the wholesale price was allowed to "increase per demand" in order to incentivize more producers to come online. I'm obviously not in the power generation business but it sounds like there is some breakeven point where it wasn't profitable for some plants to run due to the extreme cold. Because it's a competitive model, if it's not economical for them to generate power, no one will make them. So they cranked the price up to lure in more producers, then there were gas supply issues out of the Permian and it really hit the fan. So in a sense, the Griddy customers that had power got caught in the cross-fire.
