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by post_break
1020 days ago
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This was done in Texas. You could get power at pass thru rate. The freeze came and griddy, a pass thru supplier begged everyone to switch because the rates would explode due to market demand pricing. Those who didnt switch got charged thousands because it's straight pass thru pricing. Some who knew how this worked just turned off their breakers or switched to generators. Those who refused complained to the state, and then of course the rest is history. https://en.wikipedia.org/wiki/Griddy |
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Some people will want power to be turned off at the slightest increase in price.
Most people will tolerate a small increase in spot pricing over the normal state of affairs, but would like to be disconnected if, say, electricity more than doubles over what would be normal for that time of day.
Other people will tolerate huge increases in price-- and should be able to opt into this behavior after careful acceptance of disclosures.
Indeed, having different thresholds where demand goes away is essential for spot markets to work. Otherwise, the only change in demand is from those actively watching the spot rates (either through automation or manually). It makes sense to provide a minimal level of that automation "built into" the product.