|
I think you will find that the invisible hand of the free market will clear all of this stuff up. People will switch to a fairer energy provider if they find that they are paying more to stay alive than they would prefer to pay.
|
# ? Feb 25, 2021 02:57 |
|
|
# ? Mar 29, 2024 16:04 |
|
just pretend I bolded the whole thingquote:My boyfriend is an idiot with money. *endless screaming*
|
# ? Feb 25, 2021 05:10 |
|
HelloIAmYourHeart posted:just pretend I bolded the whole thing
|
# ? Feb 25, 2021 05:12 |
|
DaveSauce posted:I think the point is that you have absolutely no idea what it'll cost for the next hour of electricity. At least if you go to the gas station, you see the price on the pump before you fill up. Yeah you get it. For this and many reasons that's a predatory business model that shouldn't be allowed.
|
# ? Feb 25, 2021 06:17 |
|
HelloIAmYourHeart posted:just pretend I bolded the whole thing Drugs, gambling, or secret girlfriend? I have an acquaintance who acted a bit like this, his rich parents bailed him out every time
|
# ? Feb 25, 2021 06:31 |
|
Back in like 2007 some goon made an ask/tell thread about how he made millions trading agriculture futures from his yacht. Eventually he formed kind of a money cult with an IRC channel and screensharing streams about how to setup your charts spot his special foolproof-no-fail technical analysis patterns. I'm not sure what the guy had to gain from building his religion, unless he was getting a kickback from the broker he insisted everyone trade through. Maybe the worship was enough. Eventually the IRC channel got really sad. Just a lot of idle daydreaming about how much everyones lives would be better when they had millions in easy money, while simultaneously pissing money into futures they didn't understand. I'm seeing a lot of that kind of talk on reddit and it bums me out. "Here's why I need gamestop to moon." "All my problems will be solved when GME reaches $x." The goonmessiah just kind of ghosted after a while. I wonder what ever happened to him. gently caress was I stupid. I lost like $3k on beans and that was more than my car was worth at the time.
|
# ? Feb 25, 2021 07:26 |
|
eddiewalker posted:Back in like 2007 some goon made an ask/tell thread about how he made millions trading agriculture futures from his yacht. Eventually he formed kind of a money cult with an IRC channel and screensharing streams about how to setup your charts spot his special foolproof-no-fail technical analysis patterns. I'm not sure what the guy had to gain from building his religion, unless he was getting a kickback from the broker he insisted everyone trade through. Maybe the worship was enough. Interestingly, some of the people I know who seem to get easily attached to personality cult type figures or low information fringe political ideas latched onto GME and then some of the lesser meme stocks after GME. Seems like the same combination of "one weird trick to fix everything" and low information stick it to the man type thinking. I personally don't give a poo poo about random people on a Reddit board, but it's frustrating to see some friends act this way. There's no getting through, like telling them to instead invest in a broad market ETF and just put a little in every week just bounces off their skull. They won't accept it. I think it needs to feel difficult and against the grain almost to prove a point. They're looking for something that both proves they have been right this whole time, "the system" is rigged and they had no chance, but also allows them to beat "the system" and be a success.
|
# ? Feb 25, 2021 13:09 |
|
eddiewalker posted:Back in like 2007 some goon made an ask/tell thread about how he made millions trading agriculture futures from his yacht. Eventually he formed kind of a money cult with an IRC channel and screensharing streams about how to setup your charts spot his special foolproof-no-fail technical analysis patterns. I'm not sure what the guy had to gain from building his religion, unless he was getting a kickback from the broker he insisted everyone trade through. Maybe the worship was enough. Thinkin bout thos dolrs
|
# ? Feb 25, 2021 13:31 |
|
Dik Hz posted:Insurance kinda falls apart if you let people freely switch in and out whenever it personally benefits them rather than locking them in to fixed terms. Whether that's a bug or feature is left up to the reader. I'm confused here. Are these plans marketed and sold as insurance, or are you making that comparison on your own? Granted, I haven't been following this much outside the headlines and a few news articles, but this is the first time I've seen it called "insurance." It seems like the story here is that these are less of a "hey here's a risky product that could save you money now but really screw you later" and more of a "hey we can save you TONS OF MONEY sign up with us NOW NOW NOW just don't look at the fine print!" Going back to the original point you were trying to make, yes "in theory" this variable pricing model should quell demand for power during periods of scarcity. But that's only if it were done properly where, again, consumers can see the price for the next kwh of usage and can switch to a competitor at any time. If these providers don't allow both of these things, then this does precisely nothing to control demand, it only serves as a mechanism to force consumers in to paying higher, noncompetitive prices.
|
# ? Feb 25, 2021 13:58 |
|
DaveSauce posted:I'm confused here. Are these plans marketed and sold as insurance, or are you making that comparison on your own? Granted, I haven't been following this much outside the headlines and a few news articles, but this is the first time I've seen it called "insurance." It seems like the story here is that these are less of a "hey here's a risky product that could save you money now but really screw you later" and more of a "hey we can save you TONS OF MONEY sign up with us NOW NOW NOW just don't look at the fine print!" Note, I do agree on the price transparency part. Allowing people to switch at any time would be akin to allowing people to buy health insurance on their way to the hospital and dropping it on their way out. Whether market-rate electricity plans (and for-profit healthcare) should exist is a separate debate. But if you allowed people to switch from the market rate to the 'insured' rate whenever they wanted, you're essentially setting the market cap at the 'insured' rate. It'd be simpler and fairer to just set the market cap rate to that number in the first place.
|
# ? Feb 25, 2021 15:02 |
|
Dik Hz posted:It'd be simpler and fairer to just set the market cap rate to that number in the first place. haven't you just invented a regulated power market
|
# ? Feb 25, 2021 15:18 |
|
KYOON GRIFFEY JR posted:haven't you just invented a regulated power market I think that's their point
|
# ? Feb 25, 2021 15:21 |
|
DaveSauce posted:Going back to the original point you were trying to make, yes "in theory" this variable pricing model should quell demand for power during periods of scarcity. But that's only if it were done properly where, again, consumers can see the price for the next kwh of usage and can switch to a competitor at any time. If these providers don't allow both of these things, then this does precisely nothing to control demand, it only serves as a mechanism to force consumers in to paying higher, noncompetitive prices. ERCOT publishes real-time prices here: http://www.ercot.com/content/cdr/html/real_time_spp I am sure Griddy has an app that filters for your location and displays the price you're currently paying nicely. If you're on a spot-price plan, you can switch your plan at any time. However, if you wait until DEFCON1 to do so, don't be surprised when nobody is willing to take you until the grid settles down, for reasons Dik Hz explained.
|
# ? Feb 25, 2021 15:30 |
|
YOu're an idiot if you live in texas and don't run 2 separate power lines to a smart electrical router that checks electricity prices using a python script every 10 milliseconds and draws power from whatever service is cheaper. How else do you cut down on the cost of charging your Tesla.
|
# ? Feb 25, 2021 15:36 |
|
Tomfoolery posted:YOu're an idiot if you live in texas and don't run 2 separate power lines to a smart electrical router that checks electricity prices using a python script every 10 milliseconds and draws power from whatever service is cheaper. How else do you cut down on the cost of charging your Tesla. Given that it's not unusual for spot prices to be slightly negative overnight, 2meters1house sounds like a fantastic disruptive sure-fire unicorn idea. Let's do it.
|
# ? Feb 25, 2021 15:41 |
|
Tomfoolery posted:YOu're an idiot if you live in texas and don't run 2 separate power lines to a smart electrical router that checks electricity prices using a python script every 10 milliseconds and draws power from whatever service is cheaper. How else do you cut down on the cost of charging your Tesla.
|
# ? Feb 25, 2021 15:41 |
|
Tomfoolery posted:YOu're an idiot if you live in texas and don't run 2 separate power lines to a smart electrical router that checks electricity prices using a python script every 10 milliseconds and draws power from whatever service is cheaper. How else do you cut down on the cost of charging your Tesla. if you own a tesla you are not a Real Texan
|
# ? Feb 25, 2021 15:43 |
|
Dik Hz posted:It's been compared to insurance several times in the thread so far, so I was highlighting that to make the point. People are allowed to switch at any time and the local power company isn't allowed to turn them down. Which is why Griddy sent out desperate emails and phone calls to all of their customers telling them to switch providers immediately before the storm got bad. The thing is, switching isn't instant and when a bunch of people all try to switch at once it can take a couple days to clear the backlog, to say nothing of when a crisis is going on. And of course a few Griddy customers just didn't bother but why would they, they made the news with the stories of how awful it is and now people are talking about how to bail them out.
|
# ? Feb 25, 2021 16:47 |
|
Tomfoolery posted:YOu're an idiot if you live in texas and don't run 2 separate power lines to a smart electrical router that checks electricity prices using a python script every 10 milliseconds and draws power from whatever service is cheaper. How else do you cut down on the cost of charging your Tesla. I have heard of at least 1 person who had a whole house natural gas generator that would do that during the summer when spot prices we getting below the cost of natural gas generation. I also assume that this kind of person would find a way to pay spot natural gas prices, so they may have been hit by $600/MMBTU at the time it was $9kWh.
|
# ? Feb 25, 2021 16:57 |
|
Dik Hz posted:
It's actually the central part of the debate. They're bad, and should be illegal. No infrastructure should be private.
|
# ? Feb 25, 2021 17:21 |
|
Oh, so that's why ARK has done so well - God is on Cathie's side.quote:I started reading the One-Year Bible, after I would read the passage for the day, I would then just open it up randomly and say, “God, speak to me. Just show me what to do. Show me Your will. Show me Your way.” I always felt that the name was a biblical reference, but more along the lines of Noah's Ark. What an idiot I was! quote:What we were really doing was encouraging the new creation, God’s new creation. We were allocating capital to its highest and best use: transformative technologies that were going to change the world and make it a better place, while the rest of the world started investing in the past, which they thought was safe. Today, the tables are flipped, so we feel like we’ve done the right thing. It is by God’s grace and the power of the Holy Spirit, I will tell you, that I moved in this direction. Sure she's making good business in the temple allocating capital, but known socialist Jesus might be right around the corner, and I don't think he's happy...
|
# ? Feb 25, 2021 17:35 |
|
The junk collector posted:People are allowed to switch at any time and the local power company isn't allowed to turn them down. Which is why Griddy sent out desperate emails and phone calls to all of their customers telling them to switch providers immediately before the storm got bad. The thing is, switching isn't instant and when a bunch of people all try to switch at once it can take a couple days to clear the backlog, to say nothing of when a crisis is going on. And of course a few Griddy customers just didn't bother but why would they, they made the news with the stories of how awful it is and now people are talking about how to bail them out. its really obvious when people use made-up strawmen to justify loving over others. like, for example, this mythical Griddy customer who rationally and logically chose to pay $9/KwH for electricity because [insert reasoning here that boils down to "poor people deserve what they get"]
|
# ? Feb 25, 2021 17:42 |
|
The customer obviously can see the price is going to spike on a weather forecast, and change suppliers easily. They'll always win! The supplier has no way of knowing the weather could get bad and prep for that possibility, they'd just be wasting their money to do so! What if they prep and nothing happens? They'll lose shareholders investments, which is obviously bad since we have to answer to them.
|
# ? Feb 25, 2021 17:57 |
|
ChickenOfTomorrow posted:because [insert reasoning here] Because they pay half to two-thirds the going rate the other 360 days a year. Some people will find that an attractive gamble, and value is in the eye of the beholder.
|
# ? Feb 25, 2021 18:06 |
|
HelloIAmYourHeart posted:just pretend I bolded the whole thing This guy's a moron who spent $4k in order to borrow $5k he didn't actually need for anything, but god forbid I lose $1500 breaking this lease, better just settle down and marry him.
|
# ? Feb 25, 2021 18:43 |
|
A utility rate from a normal utility company will be set by the rate commission. You have to go out and make a separate agreement to deal with something like Griddly. It would be like if you had mandated liability only car insurance and then went out and made a separate agreement with an app to agree to self-insure the liability in exchange for help on the premiums. Something I’m sure someone wants to do, but it probably isn’t a great decision.
|
# ? Feb 25, 2021 18:43 |
|
Are variable rates for utilities really such an outlandish thing in the US? Here (Sweden) it's just a standard choice you make (do you want fixed, variable or hybrid? If fixed, how long a term?) with the prevailing wisdom being that variable is generally cheaper in the long run but with the drawback that it of course varies and that you are vulnerable to spikes. Similar to mortgages, in a way.
|
# ? Feb 25, 2021 18:53 |
|
kissekatt posted:Are variable rates for utilities really such an outlandish thing in the US? Here (Sweden) it's just a standard choice you make (do you want fixed, variable or hybrid? If fixed, how long a term?) with the prevailing wisdom being that variable is generally cheaper in the long run but with the drawback that it of course varies and that you are vulnerable to spikes. Similar to mortgages, in a way. Somehow I highly, highly doubt the Swedish system would allow for gouging residential power customers for tens of thousands of dollars during a disaster Sweden also would have been prepared to mitigate the disaster in the first place
|
# ? Feb 25, 2021 18:55 |
|
kissekatt posted:Are variable rates for utilities really such an outlandish thing in the US? Here (Sweden) it's just a standard choice you make (do you want fixed, variable or hybrid? If fixed, how long a term?) with the prevailing wisdom being that variable is generally cheaper in the long run but with the drawback that it of course varies and that you are vulnerable to spikes. Similar to mortgages, in a way. Several places I've lived have had a subsidized rate for the first x kWh, where x is supposed to be the regular consumption of a regular family in a small house, with higher rates for use in excess of that. Growing up in the northern US, our electrical company offered a year-round rate break for the option to shut off our electric heat during peak demand. My family did so and we'd fire up the wood stove on the nights they did this.
|
# ? Feb 25, 2021 19:24 |
|
ChickenOfTomorrow posted:its really obvious when people use made-up strawmen to justify loving over others. like, for example, this mythical Griddy customer who rationally and logically chose to pay $9/KwH for electricity because [insert reasoning here that boils down to "poor people deserve what they get"] The real issue, in my mind, is that Texas producers only get paid for the electricity they actually produce. So the economics of spare capacity that's only used once a decade make it cost an exorbitant amount. If your extra capacity is only used 3 days a decade, you need to recoup that investment during those 3 days. Harden the grid to resist a volatile climate and make sure economic incentives are in place to maintain excess capacity to respond to emergencies. $10k power bills are a symptom and not the real issue, imo.
|
# ? Feb 25, 2021 19:38 |
|
Help! Account in deep negative balancequote:I had sold 200 contracts of GME 01/22 $1 puts. Max loss is supposed to be 20k. Because of option prices being out of whack after hours, the brokerage shows each contract to be worth 20$ putting this trade at a loss of -$400k. All the margin balances look messed up (reg-T account) quote:EDIT2: just got off the phone with fidelity. They chalked this down to a “reporting error” based on after hour prices. They said something about pricing between 12 and 1pm causing this issue. They fixed the reporting on my account so it’s showing a positive account balance and my gme position doesn’t show a huge loss. They also assured me that no positions will be closed. Thank you everyone for your replies, kept me sane.
|
# ? Feb 25, 2021 19:50 |
|
kissekatt posted:Are variable rates for utilities really such an outlandish thing in the US? Here (Sweden) it's just a standard choice you make (do you want fixed, variable or hybrid? If fixed, how long a term?) with the prevailing wisdom being that variable is generally cheaper in the long run but with the drawback that it of course varies and that you are vulnerable to spikes. Similar to mortgages, in a way. I feel like this is the Nth time rehashing the conversation, but in TX both variable and fixed rate plans are extremely common. The plans in the news aren't variable rate plans though, they are wholesale market rate plans.
|
# ? Feb 25, 2021 20:53 |
|
There's some additional BWM in here. Who is speculatively buying $1 puts for GME?
|
# ? Feb 25, 2021 21:51 |
|
Guinness posted:Somehow I highly, highly doubt the Swedish system would allow for gouging residential power customers for tens of thousands of dollars during a disaster Cold weather is hardly a disaster. Lack of preparedness sure makes it one tho
|
# ? Feb 25, 2021 23:08 |
|
Some kid a few weeks ago killed himself over almost exactly this situation. Congrats to redditors doing the bare minimum to ameliorate a situation they caused, I guess.
|
# ? Feb 25, 2021 23:40 |
|
Boiled Water posted:Cold weather is hardly a disaster. Lack of preparedness sure makes it one tho Weather that people and buildings aren't equipped to handle is more or less definitionally a disaster. Some rain is hardly a disaster. There are places in Southeast Asia where flooding isn't a big deal, because everybody builds their homes on stilts. If you live somewhere where basements exist, on the other hand, you might have issues. Warm weather is hardly a disaster. When heatwaves hit the UK in 2019, the very highest recorded temperature was 38.7 degrees C (just barely over 100 F). In Phoenix or Fresno, that's barely even a hot day. But, because buildings and infrastructure weren't set up to keep things cool, nearly a thousand old people died. Preparing for extremes is important and it's only going to get more important with climate change kicking into high gear. But if you look at it as "oh, what's the big deal, where I live we deal with that every year," then you're discounting all the prep work that has gone into local infrastructure and habits and everything else.
|
# ? Feb 26, 2021 00:35 |
|
Enchanted Hat posted:There's some additional BWM in here. Who is speculatively buying $1 puts for GME? You spend a hundred bucks buying puts, and you get $20k out if they go bankrupt before the end of the year. It's straight-up gambling but you get to call your winnings "investment earnings" if you're right.
|
# ? Feb 26, 2021 01:02 |
|
Space Gopher posted:Weather that people and buildings aren't equipped to handle is more or less definitionally a disaster. This happened in Texas ten years ago and FERC told them to fix it back then but lacked regulatory authority. That would have meant less profits, so it wasn't done. Now, there's billions in damage and dozens of dead people. Very bwm for society, gwm for those at the top
|
# ? Feb 26, 2021 02:33 |
|
Evil Willow posted:What Legal grounds do I have to stop a friend? [TN] BWM for aggressively doing what it takes to get written out of the will.
|
# ? Feb 26, 2021 04:04 |
|
|
# ? Mar 29, 2024 16:04 |
|
Nofeed posted:Sure she's making good business in the temple allocating capital, but known socialist Jesus might be right around the corner, and I don't think he's happy... Always remember, when it comes to bankers and their ilk, it's not "what would Jesus do?" but rather "what did Jesus do?" Whipped some rear end, that's what !
|
# ? Feb 26, 2021 04:19 |