General Discussion

Ms. Toad

(38,825 posts)

29. Griddy isn't like your average electric company.

Sun Feb 21, 2021, 08:14 PM

Feb 2021

It's more like those balloon mortgages so many people got when interest rates were sky-high and they thought sure they would be able to refinance before the balloon came due.

When they signed up for Griddy, they agreed to pay whatever the going rate was for electricity on a moment-by-moment basis. With such high demand for electricity, the going rate was incredibly high since there was none to be found.

The actual cost for Griddy members to purchase electricity on 2/18 was $9 per kilowatt hour (an average of $640/day). (The griddy price today is $.014 per kWh - just for comparison.)

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Help Me Out DUers - I am trying to process those electricity bills in Texas-UPDATE [View all] malaise Feb 2021 OP

Mine creeps up to about $100 a month in the winter. panader0 Feb 2021 #1

So how does anyone get a bill for $10,000 plus? malaise Feb 2021 #34

A new type of suppler charges you the wholesale spot price. speak easy Feb 2021 #57

Power rates there are set based upon demand and available supply. Blue_true Feb 2021 #60

My Average for gas and Electric in Iowa: $110 n/t BlueJune Feb 2021 #2

New York State. $139/month, gas and electric combined... LuckyCharms Feb 2021 #3

Here in Northern Illinois (Chicago area), mine tops out at $150/month. Progressive Jones Feb 2021 #4

Here in New Mexico: Turin_C3PO Feb 2021 #5

Wow, I'm jealous of the above posters. I'm in NC... OneGrassRoot Feb 2021 #6

i am near that in the deep of winter at the border to NC (virginia). drray23 Feb 2021 #21

California here. Balanced payment plan runs about $140 for gas and electric. (Yearly average alwaysinasnit Feb 2021 #7

Fort Worth, Texas MicaelS Feb 2021 #8

In El Paso the rates are really low. Scruffy1 Feb 2021 #9

In my 2-bedroom apartment in Dallas I average $88/month LanternWaste Feb 2021 #10

Well if you signed up with the company Griddy and opted for the variable rate plan Fullduplexxx Feb 2021 #11

to be fair Skittles Feb 2021 #16

i understand . to me variable means no upper limit also Griddy started warning people to Fullduplexxx Feb 2021 #25

I understand, but to me, variable means within reasonable expectations. LanternWaste Feb 2021 #38

Many people were unable to switch providers though. Make7 Feb 2021 #44

yea i read that -gambling is a risky business Fullduplexxx Feb 2021 #46

You nailed it. No reasonable person would think this. Talk about a rip off, by the electric SWBTATTReg Feb 2021 #28

Yea I think a cap somewhere is warrented. Sgent Feb 2021 #51

That is absolutely crazy malaise Feb 2021 #35

I have learned it was jsut a gamble thing and the customers well knew what they were getting into to LizBeth Feb 2021 #12

The state of Texas Delarage Feb 2021 #30

I'm paying $.25 per KWH. rgbecker Feb 2021 #13

Concentrate on things that use electricity to make heat. Mariana Feb 2021 #48

I'm in northern VA happybird Feb 2021 #14

Oregon Resident Here leftieNanner Feb 2021 #15

I'm in Texas and I pay .10 per kWh Skittles Feb 2021 #18

Are you in the El Paso area? leftieNanner Feb 2021 #20

no, I am in that grid, as is most of Texas Skittles Feb 2021 #22

Very Smart leftieNanner Feb 2021 #32

aw thanks Skittles Feb 2021 #33

Thanks for helping me to understand malaise Feb 2021 #36

Good idea for that 3 mile walk..lol LeftInTX Feb 2021 #42

I am always alwake all night, and I walk every night Skittles Feb 2021 #58

I walk at night too, but didn't think of it when I woke up at 1 am LeftInTX Feb 2021 #59

you have to dress warm Skittles Feb 2021 #61

I went to Colorado in Dec 2019..It kinda helped..otherwise, I would not own a winter jacket LeftInTX Feb 2021 #62

maybe I am overthinking as a longtime nightshift worker Skittles Feb 2021 #64

Oregon here, we pay more in summer Tree Lady Feb 2021 #56

I've never paid much more than $100 iemanja Feb 2021 #17

mine varies from 100 ish in the spring to upwards of $360.00 in the cold winter. drray23 Feb 2021 #19

Central Illinois. Gas and electric combined, on monthly equalizer payment plan. $156. 1300sqf ranch. Midnight Writer Feb 2021 #23

NorCal shanti Feb 2021 #24

I am on a Co-op here in Arkansas. Usually about $80 year round. May hit $120 if it is a really hot LiberalArkie Feb 2021 #26

Delaware with Solar Panels Delarage Feb 2021 #27

Griddy isn't like your average electric company. Ms. Toad Feb 2021 #29

Thanks malaise Feb 2021 #37

In SW Arkansas, old house, no central: $230/month last couple of months rickyhall Feb 2021 #31

I paid $0.0933 / KWH last month. Wholesale price in TX went to $9.00 / KWH. Klaralven Feb 2021 #39

It's because they were heating their houses with electricity Buckeyeblue Feb 2021 #40

I have natural gas heat and I live in South Texas. LeftInTX Feb 2021 #45

Did your electric bill significantly increase? Buckeyeblue Feb 2021 #50

Not yet. Our public utility is waiting for the dust to settle LeftInTX Feb 2021 #52

Austin, Texas ananda Feb 2021 #41

Oregon: $70/month MissB Feb 2021 #43

My monthly electric bill in FL mcar Feb 2021 #47

NC here dsc Feb 2021 #49

Duke energy in Ohio - $84 budget billing - 920 sq ft - 1 story on a slab KentuckyWoman Feb 2021 #53

The super high bills are because there is a TX energy company that sells wholesale electricity Spider Jerusalem Feb 2021 #54

Oregon $100 to $200 in winter depending Tree Lady Feb 2021 #55

I pay from as little as $55 per month in the winter/fall/spring months smirkymonkey Feb 2021 #63

I think we average around $100/month for power - Atlanta Politicub Feb 2021 #65

4-level split, 3 bedroom in Central Ohio--$120 monthly budget for electric plus $60 for gas Maeve Feb 2021 #66