OT, somewhat. Who else is currently under rolling blackouts? - Page 32
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  1. #621
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    Quote Originally Posted by 72bwhite View Post
    Not a huge surprise probably one of the owns nothing conman type deals
    That one may be a real utility. A lot of them that actually have power plants and a grid are in trouble. Sounds like they had a lot of debt before and had to buy more power on the spot market. I think I saw member owned coop in the article. It is not going to be pretty, a lot of money is owed to ERCoT. Some of the speculators cleaned up on paper, but there paper gains may not materialize. They may be paying taxes on the paper gains and fail to collect, so they may get what they deserve.

    Too early to tell, it may be years before the dust settles.

    On the El Paso thing mentioned earlier. They may have need more power and it was cheaper and closer to buy it from the west. Hard to imagine that any politician is wise and can see the future.

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  3. #622
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    That’s one of the things you keep up with when you own power companies stock
    Well any stock really.

    Agree it will be interesting to see how it plays out down the road

  4. #623
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    Heard on the news this evening San Antonio CPS besides having the normal debt on infrastructure they are dealing with C19 shortfalls. People are not paying their bills and they are not disconnecting anyone. Now they are trying to figure out how not to hit users with the extra costs of the emergency power purchases.
    Not going to be easy for anyone.

    This debt and nonpaying of utility bills may have had some thing to do with the lack of preparedness. SA may not have any plant losses but how do you know when nothing is published on who went down.

    Now the lawyers are signing up people to sue ERCoT and the power companies for millions. Looks like a perfect storm for utility finances.
    Last edited by FredC; 03-01-2021 at 09:02 PM. Reason: Saw a TV ad.

  5. #624
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    Well maybe that $1400 stimulus check will help with the unpaid bills part.
    On the other hand if it hurts them financially it will give them the incentive to fix the problem

  6. #625
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    Quote Originally Posted by 72bwhite View Post
    Not a huge surprise probably one of the owns nothing conman type deals
    Its a co-op. Its owned by smaller rural electric co-ops, which, in turn, are owned by the members - the ratepayers. Not a for profit corporation, and its actually been around since 1941, and it serves a pretty big swath of Texas.


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