The price of food and insane electric bills

[Wallfire]

Been hearing a lot of discussion on this. Some feel this is the result of "unbridled capitalism" and Texas needs the government to step in. Some blame green energy. And some blame out-of-staters on the problem. 

Because the world is always demanding my opinion, here it is. You can only plan and prepare for so much. At some point, you gamble. Everyone does this everyday. No one expected the snow and cold that far south, not even the energy industry. The probability was negligible. Well, we saw the long shot and its affects. 

Those buying energy in that market gambled too. When the prices were low, no one complained. But the same market forces which kept those prices low now are pushing consumers' bills to insane levels. It is up to the energy consumers in Texas to decide where they go from here. 

They do not need government to regulate a solution. The demand side can leverage more stability in pricing on its own. Will they do it? I doubt it. This is too good an opportunity for progressive White Knightery to save the day. This will be bludgeoned over everyone's heads at the national level in the weeks to come. A fact-free avalanche of vitriol and hyperbole. 

* I feel bad for those who got obscene bills. I feel worse for those who got obscene bills and had automatic payment set up thought their bank account or credit card. There may be some lawsuits coming soon on this. Just a guess. 

** Thanks for letting me blab on your thread.

The main point of any firm is to make money, so if a firm can without braking the law send you a 10,000 dollar bill in stead of the 300 dollar bill they will do it. It has very little to do with capitalisms as  countries controlled by socialism often let the same thing happen.
But its very true what you said, people who play the market instead of getting fixed price have to be ready to drop there pants and grab there ankles as its part of the system.
Some times the system uses lots of lub, sometimes none at all. In both cases you are still getting f##ked, but its all about how much it hurts