Texas residents face high electricity rates

Texas residents face high electricity rates [Video]

WHAT YOU NEED TO KNOW:


  • Texas residents are outraged with the unbelievably high electricity bills they received following the winter storm and power outages.
  • Some electricity rates even spiked from $50 to $9,000 per Megawatt.
  • The high rates left some residents with electricity bills in the tens of thousands.

After dealing with brutal winter storms and power outages, Texas residents are now faced with unbelievably high electricity bills. 

   

WFAA reported that some rates jumped from $50 to $9,000 per Megawatt. One Dallas resident, Ty Williams, received a bill of almost $17,000 so far for this month — compared to $600 last month. Williams told the news station that his bill was from the energy company Griddy.

“How in the world can anyone pay that? I mean you go from a couple hundred dollars a month… there’s absolutely no way‚ it makes no sense,” Williams said.

Residents in Texas, which is the only state with a stand-alone electricity grid, have the option to have “variable or indexed” electricity plans. For these plans, a huge demand can drive up their electricity rates, which was the case during the winter storm.

Matt Schulz, a chief analyst in the energy industry, told NBC, “The last thing an awful lot of people need right now is a higher electric bill — and that’s unfortunately something a lot of people will get stuck with.”

One couple in north Texas shared a screenshot of their bill. Their Griddy bill for two weeks, from February 1 to 18, showed a $2 all-in rate, 1,638 kilowatt-hours used, and a total of $3,801.16.

“Using as little as possible 1300 sq ft house and this is my bill.. How is this fair. I only paid $1200 for the whole 2020 year,” they tweeted.

   

They added that Griddy advised them to switch, but the process has been on hold for more than a week.

Another resident from Dallas, Royce Pierce, said his bill for his three-bedroom home amounted to $10,000 for just a few days.

Pierce said, “We are hoping there will be relief. This is something maybe we can skate by and tackle as time goes on but how many people can’t? A lot.”

Griddy explained the high rates in a statement on Thursday but did not offer any immediate relief to customers.

The company wrote, “We intend to fight this for, and alongside, our customers for equity and accountability – to reveal why such price increases were allowed to happen as millions of Texans went without power.”

 

Source: The U.S. Sun

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