Octopus AGILE and other tarriffs tied to wholesale rates.
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Hi - Has anyone been following the Texas freeze fiasco? One of the problems was that many users were on tarrifs like Octopus Agile which is tied to the wholsale rates for electricity. Which is great in normal times. During the freeze the Texas unconstrained wholesale pricing system put the prices up 70% or more and passed this on to the users. People ended up with bills for a couple of weeks of 16,000 dollars! All this money quickly extracted from their credit cards on a daily basis! So I was wondering what it would take for the UK to end up in such a storm and AGILE users being burnt as there is no upper limit on what you can be charged. It could be for some reason all the nuclear is taken off line due to some new technical issue and we are in a high pressure weather system with no wind power. I haven't contacted Octopus yet but was just wondering whether anyone had made the connection with our smart meter tarrifs and the problems in Texas? Dave.
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