ChumpChange
ChumpChange 
Joined: Jun 15, 2018
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February 14th, 2021 at 12:41:48 PM permalink
Electric prices could double, quadruple, 10X, or 100X imminently because of supply problems in the deep freeze. Will casinos close (especially in the midwest & east) because the electric bill just went off the charts?

No word on when prices will recover, but it's not this week, and prices will continue to skyrocket. Texans could be paying $5-$10 per kilowatt-hour today, and multiples of that by the end of this week.

For a low user on 20 kw-hr/day, that'd be $100-$200 a day for electricity now.
sabre
sabre
Joined: Aug 16, 2010
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Thanks for this post from:
RogerKintodiousgambitCalder
February 14th, 2021 at 1:02:15 PM permalink
Are you off your medication?
ChumpChange
ChumpChange 
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February 14th, 2021 at 1:15:02 PM permalink
"Energy Emergency" - Texas Power Provider Warns Of Rotating Outages As Cold Weather Tests Limits Of Grid
https://www.zerohedge.com/energy/energy-emergency-texas-power-provider-warns-rotating-outages-cold-weather-tests-limits-grid
rdw4potus
rdw4potus
Joined: Mar 11, 2010
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February 14th, 2021 at 1:31:04 PM permalink
Yeah, but you're using the pricing and deliverability situation in TX (where there are no casinos) to ask if Midwest and Eastern casinos will close.

That answer is no. Ercot is a stand-alone grid.
"So as the clock ticked and the day passed, opportunity met preparation, and luck happened." - Maurice Clarett
ChumpChange
ChumpChange 
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February 14th, 2021 at 1:33:49 PM permalink
Other grids are near or over $100/MWhr, or 10 cents/kwhr, which is double my rate.
fantom
fantom
Joined: Dec 19, 2020
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February 14th, 2021 at 1:38:01 PM permalink
Where I live there have never been any immediate impositions of price spikes in electricity. Heating oil and propane prices are subject to market forces, but even those rates have some stability in the short term.

What happens here is that the utility companies file with the Public Utility Commission (PUC) for rate increases over the next term - perhaps quarterly - such that you get a regulated price increase that's consistent over the rating period. The PUC is notably anti-provider, and "consumer-friendly," so from a business point of view it's a battle for the utilities to do business here. Of course, every time the wind blows the politicos are more than ready to crucify National Grid for not having a bucket truck at every street-corner to keep the lights on. Oh yeah - if you don't pay your bill, don't worry. They can almost never shut you off for owing months and moths of unpaid bills.

So I don't think my electricity bill is going to go up this month, regardless of how cold it gets. My rates didn't go up last summer when everyone was running the AC, either.
ChumpChange
ChumpChange 
Joined: Jun 15, 2018
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February 14th, 2021 at 1:48:14 PM permalink
There's a 2nd & 3rd ice storm making its way across the same areas this week causing massive power outages in the sub-freezing weather. A foot of snow is on the way, probably for each storm.
ChumpChange
ChumpChange 
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February 14th, 2021 at 1:51:02 PM permalink
Enron: On December 15, 2000, the Federal Energy Regulatory Commission (FERC) rejected California's request for a wholesale rate cap for California, instead approving a "flexible cap" plan of $150 per megawatt-hour. That day, California was paying wholesale prices of over $1400 per megawatt-hour, compared to $45 per megawatt-hour average one year earlier.

https://en.wikipedia.org/wiki/2000%E2%80%9301_California_electricity_crisis
fantom
fantom
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February 14th, 2021 at 1:52:40 PM permalink
But here, I'll be charged the same rate for electricity in February as I was in December.
ChumpChange
ChumpChange 
Joined: Jun 15, 2018
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February 14th, 2021 at 1:58:07 PM permalink
Someone on the internet mentioned they were on a fixed price plan instead of the variable priced plan, and they were told that in a couple years the fixed price plan could be charging 40% more. This is for the Tennessee area where power prices have doubled very recently.

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