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    A Texas woman who was hit with a $9,000 power bill this month has sued her electricity provider for price gouging in a case that highlights the risks some consumers face in the state's deregulated energy market. The suit is the first of its kind after a harrowing week of snow and subfreezing temperatures that brought on skyrocketing energy prices for thousands of customers in the state and blackouts for millions of others. The economic toll of the extreme weather event could top $200 billion, putting the freeze on par with some of the costliest natural disasters to hit the United States. Lisa Khoury, a resident of Chambers County in Houston, filed a class-action suit Monday against her electricity provider, Griddy Energy. According to the suit, Khoury was charged $9,546 between February 1 and 19, an amount 40 times higher than her typical bill range of $200 to $250. ...
    Pike Electric service trucks line up after a snow storm on February 16, 2021 in Fort Worth, Texas. Winter storm Uri has brought historic cold weather and power outages to Texas as storms have swept across 26 states with a mix of freezing temperatures and precipitation. Ron Jenkins/Getty Images Lisa Khoury, of Texas, is at the forefront of a proposed class-action lawsuit against Griddy Energy. The class-action lawsuit is seeking $1 billion in damages. The lawsuit accuses Griddy of price gouging during last week's winter storm. Visit Insider's homepage for more stories. A Texas woman has filed a proposed $1 billion class action lawsuit against an electricity provider after she received a $9,000 power bill in the wake of a winter storm that left millions of people without power. Lisa Khoury, who lives in Mont Belvieu, a suburb outside Houston, is accusing Griddy Energy of unlawful price...
    A Texas woman who received a more than $9,000 power bill this month is suing her electricity provider for price gouging. It is the first such lawsuit after a harrowing week of snow and subfreezing temperatures brought on skyrocketing energy prices for thousands of customers in the state and blackouts for millions of others. Consumer law experts say more such lawsuits are likely to come. But Texas' deregulated electricity market, complete with what's called variable-rate pricing, means that many of these claimants will have an uphill battle getting their bills discharged. Lisa Khoury, a resident of Chambers County in Houston, filed a class-action suit Monday against her electricity provider, Griddy Energy. According to the suit, Khoury was charged $9,546 between February 1 and 19, an amount hundreds of times higher than her typical bill range of $200 to $250.  Khoury said Griddy pulled $1,200 from her bank...
    (CNN)A Texas woman has filed a proposed billion-dollar class-action lawsuit against electric company Griddy Energy that alleges the company engaged in unlawful price gouging during last week's statewide winter storm and power outages, according to a statement from the law firm.Lisa Khoury, a resident of a Houston suburb, claims she was charged a total of $9,546 by Griddy from February 1 to February 19, according to a copy of her bill filed with the lawsuit. Khoury's average monthly electricity bill before February ranged from $200 to $250, according to the suit. Texas officials are investigating outrageous energy bills in storm price surgeThe suit claims that Griddy "committed price gouging," was negligent when it "failed to shield consumers from excessive electrical bills," and that, by selling electricity at high prices in the middle of the storm, the company was "unjustly enriched."Griddy did not immediately respond to the allegations in the...
    ARLINGTON, Texas (CBSDFW.COM) – In the middle of record low temperatures, Ty Williams of Arlington received a home electric bill so high he couldn’t believe it – $11,527.89. “And that’s just for half of February,” said Williams. “It just blows my mind. I really did think it was a mistake. There is no way that this is happening.” Based on Williams’ electricity usage, had he been on a fixed rate plan ($0.11 per kWh), his bill would have been $334.70. Other customers of the electric company Griddy also reported astronomical bills. “They (Griddy) took $300 from my account on the 13th and then took another $300 on the 15th,” said Kristin Schlinker of Arlington, who, like most Griddy customers, is on a pay as you go plan. “I just about had a heart attack. It was crazy!” Griddy is a wholesale electric retail provider. For a monthly fee of $9.99,...
    U.S. federal energy regulators said Monday they will examine threats climate change and extreme weather events pose to the countrys electric reliability in the wake of last weeks deadly Texas freeze that left millions of people without power. "The effects of climate change are already apparent," Federal Energy Regulatory Commission Chairman Richard Glick said in a statement. "We must do everything we can within our statutory authority to ensure that the electric grid is capable of keeping the lights [on] in the face of extreme weather." FERC, which regulates the interstate transmission of electricity, oil, and natural gas and approves fossil fuel projects such as pipelines, could play a big role in President Joe Bidens promise to make the power grid emissions-free by 2035. It was not immediately clear how FERC, a panel of five commissioners which has a 3-2 Republican majority until about June, can keep help power delivery...
    HOUSTON (CBSDFW.COM/CNN) — An electricity and gas provider based in Texas, Just Energy, warned that the financial impact of the winter storm that moved through the state could force it out of business. Just Energy said Monday that it could lose about $250 million from Texas’ deep freeze that left millions without power last week. The hit “could be materially adverse to the Company’s liquidity and its ability to continue as a going concern,” it said in a press release. READ MORE: Judge Says Railroad Talks Should Be Included In Lawsuits With US headquarters in Houston, Canada-based Just Energy shares dropped more that 30% in early trading on the Toronto Stock Exchange. The massive spike in energy demand during Texas’ cold snap sent prices soaring. Just Energy noted that Texas energy prices were selling for as much as $9,000 per megawatt hour for much of last week — the cap...
    By Joseph Pisani and Jonathan Mattise | Associated Press After unusual icy weather left millions of Texans without power, some are facing another crisis: Sky-high electricity bills. The surge in pricing is hitting people who have chosen to pay wholesale prices for their power, which is typically cheaper than paying fixed rates during good weather, but can spike when there’s high demand for electricity. Many of those who have reported receiving large bills are customers of electricity provider Griddy, which only operates in Texas. Among them is Susan Hosford of Denison, Texas. On a typical February day, she pays Griddy less than $2.50 for power. But the one-day cost spiked to hundreds of dollars after the storm. In all, she was automatically charged $1,346.17 for the first two weeks of February, which was more than she had in her checking account, causing her bank to charge her overdraft fees...
    After unusual icy weather left millions of Texans without power, some are facing another crisis: Sky-high electricity bills. The surge in pricing is hitting people who have chosen to pay wholesale prices for their power, which is typically cheaper than paying fixed rates during good weather, but can spike when there’s high demand for electricity. Many of those who have reported receiving large bills are customers of electricity provider Griddy, which only operates in Texas. Among them is Susan Hosford of Denison, Texas. On a typical February day, she pays Griddy less than $2.50 for power. But the one-day cost spiked to hundreds of dollars after the storm. In all, she was automatically charged $1,346.17 for the first two weeks of February, which was more than she had in her checking account, causing her bank to charge her overdraft fees and affect other bills. “This whole thing has been a...
    The New York Times His Lights Stayed on During Texas’ Storm. Now He Owes $16,752. SAN ANTONIO — As millions of Texans shivered in dark, cold homes over the past week while a winter storm devastated the state’s power grid and froze natural gas production, those who could still summon lights with the flick of a switch felt lucky. Now, many of them are paying a severe price for it. “My savings is gone,” said Scott Willoughby, a 63-year-old Army veteran who lives on Social Security payments in a Dallas suburb. He said he had nearly emptied his savings account so that he would be able to pay the $16,752 electric bill charged to his credit card — 70 times what he usually pays for all of his utilities combined. “There’s nothing I can do about it, but it’s broken me.” Sign up for The Morning newsletter from the New...
    NORTH TEXAS (CBSDFW.COM) — As of Monday nearly 16,000 Texans across the state were still without power, according to poweroutage.us. But when those residents join the hundreds of thousands who have had service restored they could be facing another crisis: astronomical electricity bills. The surge in pricing is hitting people who have chosen to pay wholesale prices for their power, which is typically cheaper than paying fixed rates during good weather, but can spike when there’s high demand for electricity. Many of those who have reported receiving large bills are customers of electricity provider Griddy, which only operates in Texas. READ MORE: Forney Tennis Players Battling Leukemia With Amazing Support Behind Them Among them is Susan Hosford of Denison, Texas. On a typical February day, she pays Griddy less than $2.50 for power. But the one-day cost spiked to hundreds of dollars after the storm. In all, she was automatically...
    After unusual icy weather left millions of Texans without power, some are facing another crisis: Sky-high electricity bills. The surge in pricing is hitting people who have chosen to pay wholesale prices for their power, which is typically cheaper than paying fixed rates during good weather, but can spike when there’s high demand for electricity. Many of those who have reported receiving large bills are customers of electricity provider Griddy, which only operates in Texas. Among them is Susan Hosford of Denison, Texas. On a typical February day, she pays Griddy less than $2.50 for power. But the one-day cost spiked to hundreds of dollars after the storm. In all, she was automatically charged $1,346.17 for the first two weeks of February, which was more than she had in her checking account, causing her bank to charge her overdraft fees and affect other bills. “This whole thing has...
    Roads were covered with snow and sleet on February 15, 2021, in Spring, Texas. David J. Phillip/AP Some Texans were hit with $5,000 utility bills after winter storms caused prices to surge. On Sunday, regulators said electric providers are banned from shutting off service for unpaid bills. A news release said the orders are "intended to be temporary, likely through the end of this week." Visit Insider's homepage for more stories. The Public Utility Commission of Texas said Sunday that electricity companies would be temporarily banned from cutting off service due to unpaid bills. Gov. Greg Abbott announced the move earlier in the day, following an emergency meeting that was held on Saturday to address the surging electricity bills some Texans were receiving after the devastating winter storm. In a news release about the moratorium, the PUCT said that they issued a series of orders timed to...
    The New York Times His Lights Stayed on During Texas’ Storm. Now He Owes $16,752. SAN ANTONIO — As millions of Texans shivered in dark, cold homes over the past week while a winter storm devastated the state’s power grid and froze natural gas production, those who could still summon lights with the flick of a switch felt lucky. Now, many of them are paying a severe price for it. “My savings is gone,” said Scott Willoughby, a 63-year-old Army veteran who lives on Social Security payments in a Dallas suburb. He said he had nearly emptied his savings account so that he would be able to pay the $16,752 electric bill charged to his credit card — 70 times what he usually pays for all of his utilities combined. “There’s nothing I can do about it, but it’s broken me.” Sign up for The Morning newsletter from the New...
    The New York Times His Lights Stayed on During Texas’ Storm. Now He Owes $16,752. SAN ANTONIO — As millions of Texans shivered in dark, cold homes over the past week while a winter storm devastated the state’s power grid and froze natural gas production, those who could still summon lights with the flick of a switch felt lucky. Now, many of them are paying a severe price for it. “My savings is gone,” said Scott Willoughby, a 63-year-old Army veteran who lives on Social Security payments in a Dallas suburb. He said he had nearly emptied his savings account so that he would be able to pay the $16,752 electric bill charged to his credit card — 70 times what he usually pays for all of his utilities combined. “There’s nothing I can do about it, but it’s broken me.” Sign up for The Morning newsletter from the New...
    Loading the player... As Texas continues to battle with the aftermath of the historic winter storm that collapsed the state’s power grid, some residents are receiving electric bills as high as $10,000, according to NBC News. Jose Del Rio of Haltom City in the Dallas-Fort Worth area received a $630 electricity bill this month instead of the $125 to $150 bill he normally receives each month for his vacant two-bedroom home. “If worse comes to worst, I have the ability to put it on a credit card or figure something out,” Del Rio said. ”There is no one living in that house. All the lights are off. But I have the air at 60 because I don’t want the pipes to freeze.” An aerial view from a drone shows electrical lines running through a neighborhood on February 19, 2021 in Austin, Texas. Amid days of nationwide frigid winter storms...
    Some Texas homeowners this week were furious to learn that they had been billed as much as $17,000 for their electricity as power outages caused by two powerful winter storms caused rolling blackouts for days. While most Texans are on a fixed rate plan on which they pay the same monthly amount throughout the duration of their contract, there are those who are on a variable or indexed plan whose rates vary based on the market. One of those on the variable plan, Ty Williams, told WFAA-TV that his combined electric bill last month for his home, guest house, and office was $660. As of this month, he owes more than $17,000. ‘How in the world can anyone pay that?’ Williams said. People wait in line at an Austin, Texas brewery for potable water on Friday. Many homeowners in Texas this week were angered to learn that they were...
    For millions of people who live in Texas, this week has seemed like hell. With the electrical grid collapsing, people were left to freeze to death in their living rooms while others watched their homes literally fall apart as frozen water pipes burst. But this is all simply a matter of perspective. For electricity providers in Texas, this has been the best week ever. The same goes for natural gas companies. And coal companies. And drilling companies. And on down the line. The entire energy industry, including the owners of Texas wind farms, has seen a tremendous surge of profit. That surge was so great that on just two days this week, Monday and Tuesday, providers could easily have cleared more profit than they do in a full year of ordinary, full-scale production. Not providing adequate electricity to Texas is much more profitable than providing every Texan with the power they need. By design....
    New York : Texas produces more electricity than any other US state. Photo: John Weast / . The freezes that are hitting Texas are causing electricity prices in this region to skyrocket 10,000%, since the low temperatures have put the power installations out of service. Electricity prices soared more than 10,000% when the winter storm hit this week. The state has suffered from blackouts since then, and more than 4 million people were without power during the early hours of Tuesday. The problem is that low temperatures are affecting energy sources, both fossil fuels and renewable energies. The most surprising thing about this problem is that it happened right in Texas, since it is considered the largest energy power in the United States. It should be noted that Texas produces more electricity than any other US state, generating nearly twice as much as Florida, which...
    (CNN Business)Editor's Note: A version of this story appeared in CNN Business' Nightcap newsletter. To get it in your inbox, sign up for free, here.Tonight: A deep freeze sends Texas electricity prices soaring 10,000%; Citibank can't fix a $500 million oopsie; and vegan KitKats are now a thing. Let's get into it.FROZEN OVER Unthinkably cold temperatures have knocked Texas' energy facilities offline. Electricity prices spiked more than 10,000% when the winter storm hit this week. There are blackouts across the state. More than 4 million Texans were without power early Tuesday.Read MorePOINTING FINGERSAlthough some are attempting to pin the blame on one fuel source or another, the reality is that the Arctic temperatures are hobbling fossil fuels and renewable energy alike, my colleague Matt Egan explains. It's striking that these power outages are happening in mighty Texas, the energy powerhouse of America. A bit of context: Texas produces more electricity than any other...
    Barely a month remains until the first anniversary of the declaration of the state of alarm on March 14, with which Spain and its citizens were aware that they had to face a global pandemic, many of them without knowing exactly its meaning. and what it would entail. Thus, the expansion of Covid-19 has brought hand an unprecedented global economic crisis, causing the closure of thousands of businesses and a significant increase in unemployment rates. How could it be otherwise, the pandemic has also caused changes in the price of products that are commonly consumed. Although logic could invite one to think that prices have decreased – as has happened with average wages – this has not been the case. According to data from the Consumer Price Index (CPI), published by the National Institute of Statistics (INE), the interannual rate has risen one point, reaching 0.5%, which means its...
    Forecasts that seem quite close to the realities we live in today. But what are the factors that justify this state of affairs? How can you cope with and control your “bill” budget as much as possible despite constantly rising electricity prices? Why are electricity prices increasing in France? Four main elements explain the increase in electricity prices in France. It is : Tax increases: since January 1, 2014, the VAT applied to the price of kWh has increased from 19.6% to 20%. The TFCE (Tax on the Final Consumption of Electricity) also increased, from € 9.135 / MWh to € 9.5 / MWh. As for the CTA (Tariff Contribution of Transmission) which was 21%, it represents 27.04% of the fixed part of the TURPE (Tariff for the Use of Public Electricity Networks) since May 2013; The increase in the CSPE: the Contribution to the Public Electricity Service...
    The price of electricity continues to rise in the heat of the cold wave. This Tuesday the cost of electricity again marked a new peak, and for Wednesday it is expected that those prices will be exceeded and 89.94 euros per megawatt hour will be reached, the second highest price of the month, only behind the one charged last Friday. And all this while the thermometers record downward records, reaching 20 degrees below zero in places like Teruel. The increase in prices – which affects consumers who have contracted the Voluntary Price for the Small Consumer (PVPC) – is not the consequence of a direct decision of the Government nor of a large increase in the cost of generation, but the operation of the electricity market. But this increase threatens to create a new clash between PSOE and United We Can, given that the purple ones are pressing to accelerate...
    The following article is sponsored by StopSocializedMedicine.org and authored by Sven R Larson, Ph.D. Regardless of who is sworn in as president on January 20, some things will not change. We know, for example, that government will try to extend its control over our health care system. The latest idea is price regulations on pharmaceuticals. This is an issue where Trump and Biden are very much in agreement. On September 13, President Trump issued an Executive Order to align U.S. prescription drug prices with those of other countries. American consumers should not pay more than they do in what the Executive Order described as “most favored nations.” Joe Biden, in turn, wants to “create an independent commission to oversee and regulate” prescription-drug prices. In other words, there is not much more than a mail-in ballot’s distance between Trump and Biden on this issue. On the face of it, price control rings of compassion and...
    HALLOWELL, Maine (AP) — The Maine Public Utilities Commission is soliciting so-called “standard offer” proposals for customers of Central Maine Power and Versant Power. The standard offer is the default that consumers pay for electricity unless they elect to choose a different provider for themselves. The PUC said the standards offers cover for the coming year, and proposals are due next month. PUC Chairman Bartlett noted that standard offer prices have been 18 to 20% lower this year compared to last year reflecting electricity supply and demand conditions in New England. The new standard offer prices that result from this process will be announced later this year. Copyright 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Tags: Maine
    SAN JOSE — The cost of food at home has jumped in the Bay Area, propelled by meat, poultry, and fish prices that have skyrocketed, while electricity costs have soared, a report released Friday shows, a fresh sign of how the coronavirus has jolted the region’s economy. The overall cost of living in the Bay Area, as measured by the inflation rate, remains tame, with the consumer price index rising 1.6 percent over the one-year period that ended in August, the Bureau of Labor Statistics reported Friday. Bay Area consumers, however, face dramatic differences in their costs. It all depends on an individual’s activities during a time of widespread restrictions and fast-moving changes regarding where and how people can buy an array of items, products, and services, as well as what they are eating at home and how much electricity they are using.  
    Fact check: Cannibal Club restaurant in LA is fake, and Priscilla Chan isnt involved A regional supermarket chain just filed for bankruptcy despite surging grocery sales Traders Bet on Cheap California Power. Then Blackouts Hit. (Bloomberg) -- Ahead of California’s rolling blackouts, traders and power producers boosted bets on falling electricity prices. Some of them may be caught short after the outages sent prices surging. In early August, generators and merchant traders were the most bearish on California power futures in at least two years, amassing a net-short position of 14,939 futures and options, according to Commodity Futures Trading Commission data. While some of those bets were unwound leading up to the blackouts, wagers on falling prices continued to eclipse bullish bets through Aug. 18, days after the outages. “Traders expected Covid-19 to keep eating into electricity demand, and gas prices were forecast to remain subdued relative to historical...
    Offshore wind is the renewable-energy industry’s shiny new toy. Led by New York, seven Atlantic-coast states have now imposed mandates to expand offshore wind use over the next decade, with the Empire State last week soliciting bids for an additional 2,500 megawatts of offshore power, on top of the 1,700 megawatts procured previously. Advocates claim offshore wind will contribute to a low-carbon future, spur an economic renaissance and create thousands of jobs. Don’t buy it. The mandates are yet another boondoggle that will benefit a well-connected few, saddling everyone else with even higher power costs. Consider Rhode Island’s 30-megawatt, six-turbine offshore wind project located off Block Island and operated by Deepwater Wind. A decade ago, Rhode Island’s public utility commission rejected the project, concluding that the sky-high prices it would charge the local electric utility would adversely affect consumers. Yet the Rhode Island legislature ignored consumer interests and forced the...
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