The fallout of from the big freeze left some customers owing thousands but, experts say, one way or another consumers will pay the price for the state’s vulnerable energy infrastructure
Amid a deadly storm, Nathan Polk-Borgerding was terrified that Griddy, his electric company, would shut off his power in Abilene, Texas, if he and his roommates allowed their account balance to dip below $10.
So he transferred $50 from his bank – the only safety net he had – to try to keep up with the utility’s real-time charges as Texas’s grid collapsed and the spot price of wholesale electricity surged some 10,000%.
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