> As I recall, that $9000/MWh cost actually went primarily to power distribution companies,
There was a power company ( https://en.wikipedia.org/wiki/Griddy ) that offered wholesale spot rates to retail customers. As this was often lower than other retail prices and the customers were intend to be savvy of the demands they were putting on the grid (and turning off things when prices went too high), this lead to some rather large bills.
> Many of the people who have reported extremely high charges, including Mr. Willoughby, are customers of Griddy, a small company in Houston that provides electricity at wholesale prices, which can quickly change based on supply and demand.
> The company passes the wholesale price directly to customers, charging an additional $9.99 monthly fee. Much of the time, the rate is considered affordable. But the model can be risky: Last week, foreseeing a huge jump in wholesale prices, the company encouraged all of its customers — about 29,000 people — to switch to another provider when the storm arrived. But many were unable to do so.
> Katrina Tanner, a Griddy customer who lives in Nevada, Texas, said she had been charged $6,200 already this month, more than five times what she paid in all of 2020. She began using Griddy at a friend’s suggestion a couple of years ago and was pleased at the time with how simple it was to sign up.
There was a power company ( https://en.wikipedia.org/wiki/Griddy ) that offered wholesale spot rates to retail customers. As this was often lower than other retail prices and the customers were intend to be savvy of the demands they were putting on the grid (and turning off things when prices went too high), this lead to some rather large bills.
His Lights Stayed on During Texas’ Storm. Now He Owes $16,752. - https://www.nytimes.com/2021/02/20/us/texas-storm-electric-b...
> Many of the people who have reported extremely high charges, including Mr. Willoughby, are customers of Griddy, a small company in Houston that provides electricity at wholesale prices, which can quickly change based on supply and demand.
> The company passes the wholesale price directly to customers, charging an additional $9.99 monthly fee. Much of the time, the rate is considered affordable. But the model can be risky: Last week, foreseeing a huge jump in wholesale prices, the company encouraged all of its customers — about 29,000 people — to switch to another provider when the storm arrived. But many were unable to do so.
> Katrina Tanner, a Griddy customer who lives in Nevada, Texas, said she had been charged $6,200 already this month, more than five times what she paid in all of 2020. She began using Griddy at a friend’s suggestion a couple of years ago and was pleased at the time with how simple it was to sign up.