[fredophile]

> Calling that personal benefit when they were hit by a massive surge in supply pricing is shifting the blame a bit, no?

How is it not personal benefit? This company was essentially acting in the same role as an insurance company for retail customers. They charge a fixed fee for electricity that is above the average price of electricity. When electricity costs less than they charge they make money. When it costs more they lose money. They should have maintained cash reserves from profitable times to handle unprofitable ones. In an extreme situation like the current one in Texas they could seek a loan or already have lines of credit in place to cover any shortfall from their cash reserves. The profit they made went somewhere and it obviously didn't go into a rainy day fund.

[lawnchair_larry]

As a 501(c)(12), they provided services at cost to all “customers” (members), as legally required.

[ldng]

It is incredible that such a fund is not mandatory