Texas Energy Crisis

[Sparko]

So, I finally got my electric bill that covers the period of the Great Texas Freeze.
It's up only slightly.

2021-03-09 06.45.46.png

For that huge house of yours? wow. That's really good. I just paid that for my little house. and I have gas heat!

[Cow Poke]

So, somebody told me that wasn't my final bill, because ERCOT had not yet charged the utility.
Here's what my supplier's website says about that...

Bluebonnet.jpg
Apparently, it's the customers of all those "discount" electric companies that had variable rates -- if you weren't locked into a specific rate, you may have to eat the big overage.

Kinda reminds me of all those people in the 80's who did the Adjustable Rate Mortgages, and when the interest rate soared, their mortgage payments went like from $600/mo to $1,500/mo.

[Cow Poke]

So, somebody told me that wasn't my final bill, because ERCOT had not yet charged the utility.
Here's what my supplier's website says about that...

Bluebonnet.jpg
Apparently, it's the customers of all those "discount" electric companies that had variable rates -- if you weren't locked into a specific rate, you may have to eat the big overage.

Kinda reminds me of all those people in the 80's who did the Adjustable Rate Mortgages, and when the interest rate soared, their mortgage payments went like from $600/mo to $1,500/mo.

Wow, now we're getting REFUNDS!!!!! (Electric coops can't "make a profit", so they have to distribute their excess earnings back to coop members)

BLUEBONNET’S MEMBERS TO RECEIVE $4.7 MILLION IN CAPITAL CREDITS BEGINNING IN MAY

Bluebonnet Electric Cooperative’s Board of Directors has voted to return $4.7 million in capital credits to its member-owners.

Beginning in May, Bluebonnet’s members will receive a credit on their electric bill for their share of $4.7 million in capital credits, a $500,000 increase over last year.

Capital credits are excess revenue above what it takes to run the co-op. Every April, Bluebonnet’s Board of Directors approves the capital credits payment during its meeting.

The amount each member gets back depends on how much electricity they used in previous years through 2020 and how long they have been a Bluebonnet member.

Current members will see a credit on their May electric bill for their share of this year’s capital credits retirement. Former members who are still owed a capital credit will receive a check in May or June.

[Sparko]

That's nice.

[Cow Poke]

That's nice.

I don't imagine it will be very much, because my highest monthly bill is less than $200. But, yeah --- apparently they didn't lose their shirts in the Great Texas Power Plunder.