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Texas Was 'Seconds and Minutes' Away From Catastrophic Month

Discussions about the economic and financial ramifications of PEAK OIL

Re: Texas Was 'Seconds and Minutes' Away From Catastrophic M

Unread postby ROCKMAN » Sat 13 Mar 2021, 18:11:53

evil - It has nothing to do with politics. It has everything to do with contract law. It's every consumer's right to enter a risky contract...OR NOT. You take a gamble to make/save money you either win or lose. It's a simple choice. And the law says you honor the contact YOU AGREED TO.

T - Yep. And some are a good bit cheaper then you and me. I suspect those with hydro power have the best deal.

And it's even much more complex in Texas then I pointed out. For instance is is the breakdown of my bill during the freeze:

Reliant Learn & Conserve 24 plan
Energy Charge (1380.0 kWh @ $0.064945/kWh)...$89.62 paid to Reliant Energy
CenterPoint Energy Delivery Charges...$49.47 paid to CenterPoint Energy. It owns and maintains the local distribution infrastructure.
Electricity Relief Program0...$0.46
Gross Receipts Tax Reimbursement...$2.78
Total Charges $142.33 for 1380 kWh consumed that month.

The players:

Reliant Energy is one of many subs of NRG Energy: NRG Energy, Inc. is a large American energy company, dual-headquartered in Princeton, New Jersey and Houston, Texas. It was formerly the wholesale arm of Northern States Power Company, which became Xcel Energy, but became independent in 2000. NRG Energy is involved in energy generation and retail electricity.

CenterPoint Energy: CenterPoint Energy, Inc. is an American Fortune 500 electric and natural gas utility serving several markets in the American states of Arkansas, Indiana, Louisiana, Minnesota, Mississippi, Oklahoma, and Texas. It was formerly known as Reliant Energy, NorAm Energy, Houston Industries, and HL&P.

Notice CenterPoint has a monopoly on energy distribution in Houston: it owns the only electric lines in town. So why can't it charge whatever it wants? Ta da: here comes the the Public Utility Commission of Texas: a state agency that regulates the state’s electric, water and telecommunication utilities, implements respective legislation, and offers customer assistance in resolving consumer complaints. And of course being a govn agency they never fuck up. LOL.

I'll stop there peeling this huge onion for everyone. I haven't even touched on most of the electricity generators in Texas. The bottom line: no one can throw out a few smart ass lines that come anywhere close to describing the complexity that ERCOT has to oversee. I'm guessing it would take at least a couple of thousand words to cover just the basics. And probably less then 2% here would read them all. LOL

Back to Reliant Energy: "Enjoy the freedom of a month-to-month plan, or the price security offered by a fixed-rate term plan. And remember, most Texans have the power to choose their electricity provider. Contact Reliant today and let us show why we've become the choice for more than 1.2 million Texans." IOW they have more then a dozen different plans with different hooks: free weekend electricity; your 8 highest consumption days in a month are free; 100% solar; and on and on. There are actually companies that will analize your lifestyle/financial situation an recommend a plan for you. But every plan carries a risk...even the "fixed rate" plan: I'm paying $0.11 and there's one charging $0.177.

It's almost like playing in a casino. And we know the house always wins. Just a question of how much. LOL
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Re: Texas Was 'Seconds and Minutes' Away From Catastrophic M

Unread postby OutcastPhilosopher » Sat 13 Mar 2021, 18:23:13

Outcast_Searcher wrote:
Pops wrote:Sorry that was actually intended to be a parody of the TX Lt General who said grandparents should be willing to die from COVID so the economy could continue apace for young people—and investors presumably

Yes. I realize that. I was just pre-empting the many younger folks who claim(with similar thinking) that old people should die vs. getting SS or medicare -- and claim those programs are the equivalent of welfare.

Even though those programs have real problems re funding, the underlying issues need to be dealt with, instead of merely blaming the recipients who, without choice, paid for the benefits they are to collectively receive.



Yes.....why should younger people pay into a dead ponzi scheme that will implode before they would get any of it due to the inherent nature of the chain letter known as Social Security which is a failure? I blame the old people who totally mismanaged it and want to prolong it so as to make sure that they get "theirs" everyone else be damned. The old people should have actually saved enough money for retirement. It is their FAULT 100%. I blame all of the old bastards for being complete failures.

I call on young people in the US to boycott getting jobs,if you are in debt...go deep into debt to the tune of millions (claim bankruptcy when you can't pay and fuck the credit card companies and banks, stop working long hours at your current jobs, only make enough to pay what you need, start throwing wrenches into the system, etc.
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Re: Texas Was 'Seconds and Minutes' Away From Catastrophic M

Unread postby Outcast_Searcher » Sat 13 Mar 2021, 22:28:35

OutcastPhilosopher wrote:
Outcast_Searcher wrote:
Pops wrote:Sorry that was actually intended to be a parody of the TX Lt General who said grandparents should be willing to die from COVID so the economy could continue apace for young people—and investors presumably

Yes. I realize that. I was just pre-empting the many younger folks who claim(with similar thinking) that old people should die vs. getting SS or medicare -- and claim those programs are the equivalent of welfare.

Even though those programs have real problems re funding, the underlying issues need to be dealt with, instead of merely blaming the recipients who, without choice, paid for the benefits they are to collectively receive.



Yes.....why should younger people pay into a dead ponzi scheme that will implode before they would get any of it due to the inherent nature of the chain letter known as Social Security which is a failure? I blame the old people who totally mismanaged it and want to prolong it so as to make sure that they get "theirs" everyone else be damned. The old people should have actually saved enough money for retirement. It is their FAULT 100%. I blame all of the old bastards for being complete failures.

I call on young people in the US to boycott getting jobs,if you are in debt...go deep into debt to the tune of millions (claim bankruptcy when you can't pay and fuck the credit card companies and banks, stop working long hours at your current jobs, only make enough to pay what you need, start throwing wrenches into the system, etc.

Get thee to a loony bin, where you belong.

BTW, when endless whining runs the world, be sure to get back to us.
Given the track record of the perma-doomer blogs, I wouldn't bet a fast crash doomer's money on their predictions.
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Re: Texas Was 'Seconds and Minutes' Away From Catastrophic M

Unread postby OutcastPhilosopher » Sun 14 Mar 2021, 09:36:31

Outcast_Searcher wrote:
OutcastPhilosopher wrote:
Outcast_Searcher wrote:
Pops wrote:Sorry that was actually intended to be a parody of the TX Lt General who said grandparents should be willing to die from COVID so the economy could continue apace for young people—and investors presumably

Yes. I realize that. I was just pre-empting the many younger folks who claim(with similar thinking) that old people should die vs. getting SS or medicare -- and claim those programs are the equivalent of welfare.

Even though those programs have real problems re funding, the underlying issues need to be dealt with, instead of merely blaming the recipients who, without choice, paid for the benefits they are to collectively receive.



Yes.....why should younger people pay into a dead ponzi scheme that will implode before they would get any of it due to the inherent nature of the chain letter known as Social Security which is a failure? I blame the old people who totally mismanaged it and want to prolong it so as to make sure that they get "theirs" everyone else be damned. The old people should have actually saved enough money for retirement. It is their FAULT 100%. I blame all of the old bastards for being complete failures.

I call on young people in the US to boycott getting jobs,if you are in debt...go deep into debt to the tune of millions (claim bankruptcy when you can't pay and fuck the credit card companies and banks, stop working long hours at your current jobs, only make enough to pay what you need, start throwing wrenches into the system, etc.

Get thee to a loony bin, where you belong.

BTW, when endless whining runs the world, be sure to get back to us.


You'll be dead within 5 years
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Re: Texas Was 'Seconds and Minutes' Away From Catastrophic M

Unread postby ROCKMAN » Mon 29 Mar 2021, 14:12:06

Did I miss anyone pointing out that SS distribution system was structured (by the age brackets which are slowly inching up) that statistically death is what would make the system functional? Of course modern medicine has screwed that plan up by keeping too many of us old farts alive. Take the Rockman for example: between my multiple sclerosis meds and pacemaker/defibulatore implanted in my chest I'm still drawing my $2,400 check (and my wife's $1,300) and cheap medicare coverage every month out of SS years longer then the system counted on. That's about $40k a year AND we have zero debt. Who needs a pension plan? And now that I'm fully inoculated against covid I'll continue screwing up the mortality spreadsheet the govt was counting on. LOL.
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Re: Texas Was 'Seconds and Minutes' Away From Catastrophic M

Unread postby jedrider » Mon 29 Mar 2021, 14:23:59

I think it's premature to declare social security a failure. Considering what we've paid into the system (and the effect of inflation), the government does OWE us this money AFAIK (not having done the calculations). However, some more Covid events and Texas style blackouts will certainly help out the system.
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Re: Texas Was 'Seconds and Minutes' Away From Catastrophic M

Unread postby Outcast_Searcher » Wed 31 Mar 2021, 21:41:11

OutcastPhilosopher wrote:
Outcast_Searcher wrote:
Pops wrote:Sorry that was actually intended to be a parody of the TX Lt General who said grandparents should be willing to die from COVID so the economy could continue apace for young people—and investors presumably

Yes. I realize that. I was just pre-empting the many younger folks who claim(with similar thinking) that old people should die vs. getting SS or medicare -- and claim those programs are the equivalent of welfare.

Even though those programs have real problems re funding, the underlying issues need to be dealt with, instead of merely blaming the recipients who, without choice, paid for the benefits they are to collectively receive.



Yes.....why should younger people pay into a dead ponzi scheme that will implode before they would get any of it due to the inherent nature of the chain letter known as Social Security which is a failure? I blame the old people who totally mismanaged it and want to prolong it so as to make sure that they get "theirs" everyone else be damned. The old people should have actually saved enough money for retirement. It is their FAULT 100%. I blame all of the old bastards for being complete failures.

I call on young people in the US to boycott getting jobs,if you are in debt...go deep into debt to the tune of millions (claim bankruptcy when you can't pay and fuck the credit card companies and banks, stop working long hours at your current jobs, only make enough to pay what you need, start throwing wrenches into the system, etc.

I call on your ilk to be rational and stop posting economic nonsense nearly every time you post. Clearly, many of us won't get what we want.

No one is forcing Americans to work enough to buy large houses, multiple cars, take frequent foreign vacations, etc. etc.

Do you ever post credible citations to your random economic claims from CREDIBLE sources? (not zerohedge opinion pieces or doomer blog nonsense).

Aside from taking on some debt for my first new car in 1981, because I was getting a meaningfully lower rate from my credit union than I was earning on my 6 month CD's, and interest free credit cards I pay in full every month (and bonus cash with every purchase) I've NEVER HAD ANY DEBT AT ALL. And mean big guys (or small women, etc) have NEVER sprung up and tried to FORCE me to take on debt!

Funny how that works in the real world.

I retired at age 48. I'd had enough of IBM and its randomness re how it treated people over the previous 15 years, and I needed to help out my aging parents. No one prevented me from accumulating the savings I needed to securely do that in the 26+ years I worked full time, or the part time work I did (substantial) from age 12 to 22. Funny how, in the real world, that works.

Oh, and I most assuredly did NOT retire at age 48 due to having EVER made some gigantic salary as an IBM mainframe system programmer. I managed to get into the upper middle class -- barely, but that was it. I got "comfortable" by being FRUGAL, as taught by my depression era parents. NOT having big houses (or any house at all while I worked). NOT having frequent new cars, fancy furniture, fancy trips, yadda yadda was the key. ANYONE can be frugal with a little self control.
Given the track record of the perma-doomer blogs, I wouldn't bet a fast crash doomer's money on their predictions.
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Re: Texas Was 'Seconds and Minutes' Away From Catastrophic M

Unread postby evilgenius » Sun 11 Apr 2021, 13:24:13

ROCKMAN wrote:evil - It has nothing to do with politics. It has everything to do with contract law. It's every consumer's right to enter a risky contract...OR NOT. You take a gamble to make/save money you either win or lose. It's a simple choice. And the law says you honor the contact YOU AGREED TO.

T - Yep. And some are a good bit cheaper then you and me. I suspect those with hydro power have the best deal.

And it's even much more complex in Texas then I pointed out. For instance is is the breakdown of my bill during the freeze:

Reliant Learn & Conserve 24 plan
Energy Charge (1380.0 kWh @ $0.064945/kWh)...$89.62 paid to Reliant Energy
CenterPoint Energy Delivery Charges...$49.47 paid to CenterPoint Energy. It owns and maintains the local distribution infrastructure.
Electricity Relief Program0...$0.46
Gross Receipts Tax Reimbursement...$2.78
Total Charges $142.33 for 1380 kWh consumed that month.

The players:

Reliant Energy is one of many subs of NRG Energy: NRG Energy, Inc. is a large American energy company, dual-headquartered in Princeton, New Jersey and Houston, Texas. It was formerly the wholesale arm of Northern States Power Company, which became Xcel Energy, but became independent in 2000. NRG Energy is involved in energy generation and retail electricity.

CenterPoint Energy: CenterPoint Energy, Inc. is an American Fortune 500 electric and natural gas utility serving several markets in the American states of Arkansas, Indiana, Louisiana, Minnesota, Mississippi, Oklahoma, and Texas. It was formerly known as Reliant Energy, NorAm Energy, Houston Industries, and HL&P.

Notice CenterPoint has a monopoly on energy distribution in Houston: it owns the only electric lines in town. So why can't it charge whatever it wants? Ta da: here comes the the Public Utility Commission of Texas: a state agency that regulates the state’s electric, water and telecommunication utilities, implements respective legislation, and offers customer assistance in resolving consumer complaints. And of course being a govn agency they never fuck up. LOL.

I'll stop there peeling this huge onion for everyone. I haven't even touched on most of the electricity generators in Texas. The bottom line: no one can throw out a few smart ass lines that come anywhere close to describing the complexity that ERCOT has to oversee. I'm guessing it would take at least a couple of thousand words to cover just the basics. And probably less then 2% here would read them all. LOL

Back to Reliant Energy: "Enjoy the freedom of a month-to-month plan, or the price security offered by a fixed-rate term plan. And remember, most Texans have the power to choose their electricity provider. Contact Reliant today and let us show why we've become the choice for more than 1.2 million Texans." IOW they have more then a dozen different plans with different hooks: free weekend electricity; your 8 highest consumption days in a month are free; 100% solar; and on and on. There are actually companies that will analize your lifestyle/financial situation an recommend a plan for you. But every plan carries a risk...even the "fixed rate" plan: I'm paying $0.11 and there's one charging $0.177.

It's almost like playing in a casino. And we know the house always wins. Just a question of how much. LOL

What do you mean nothing to do with politics? There is a very basic political decision being made to ride with the decisions of the market. No regulatory body is declaring anything like a state of emergency, under which existing economic circumstances take a different place in line. You can say it is simply a maintenance of the status quo, but, at best, you are only partially correct about that.

What you might really be doing is trying to apply that metaphor that many liberals do in international politics, saying that war has no bearing upon political lines. Well, war rewrites political lines like nothing else in history.

But it doesn't do that merely because of the reality of winners and losers. Generally, we've learned to include more into the reconciliation. We've learned that if we don't those arguments don't always go away. When they don't, then, maybe they are akin to the power of the market for making most decisions in every day life, like you are so right about.

It's these special situations where situations can be called by regulators that I wonder about. I mean, even the New York Stock Exchange has had to allow for breakers to slow or halt trading, so that reason can prevail. I don't suppose Texas has discovered something new by refusing to think about it.
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