This is bad news - hedge funds buy profitable businesses and immediately go to work cutting back services to pay the purchase cost down faster. Expect less customer service, less options, and higher bills incoming.
this post was submitted on 22 Feb 2024
432 points (98.0% liked)
A Boring Dystopia
9552 readers
71 users here now
Pictures, Videos, Articles showing just how boring it is to live in a dystopic society, or with signs of a dystopic society.
Rules (Subject to Change)
--Be a Decent Human Being
--Posting news articles: include the source name and exact title from article in your post title
--Posts must have something to do with the topic
--Zero tolerance for Racism/Sexism/Ableism/etc.
--No NSFW content
--Abide by the rules of lemmy.world
founded 1 year ago
MODERATORS
Kill your elders. (Not really)
There's no solution to this, and time is just a salve. Call me slightly pessimistic, but I think the only thing that'll ultimately bring about any change is a decimating thermonuclear war.
I actually work at CenterPoint on the electric side. We all hate the execs just as much as all our customers. I wish the union would cover more than just linemen.
Can you not approach the union and look to expand who they cover? I can't see why they would reject having a larger membership.
Why do you hate the customers 😆
They're an electric company
What a shocking comment.
I got that email too. I am so fucking mad.
I do most of my cooking in my electric appliances so I can avoid most of my stove, but I can't do much about my water heater and I have yet to get myself to take a cold shower regularly, so i may need to move if they turn out to be real cunts.
That was my gut reaction too but what happens when this happens to the electric company as well?
We are fucked. Unless you have the wealth to both own a home and put solar with battery backups then you are tied to your local utility, and if that utility is owned by a hedge fund you are in trouble.
In a lot of states utilities have lobbied the governments to put strict rules on solar as well, because it is a threat to their business. So even if you have a good solar set up and want to still be on the grid they could force you to either take parts of your solar down or not be on the grid at all. That is all theoretical I haven't heard of a utility forcing a homeowner to remove panels though, I have just heard that they throw up roadblocks to putting them up.
Heat pump water heater and HVAC. Induction range. Plug the gas line.
Natural gas is far and away some of the most cost efficient methods of providing heat for temperature control and cooking.
The electricity you're using to run the pump and the HVAC will more than likely exceed the cost of the gas. My Houston electricity bills can get into the $600/mo range during heat waves, while my gas bill never gets above $50.
This is going to fuck people sideways, without a doubt. But hedge funds are already dick-deep in the electricity market. You're not escaping capitalism by plugging your gas line.
... during heat waves? Yes, heating is generally cheap during those.
During freezes, too. Heating your home with electricity - particularly at Texas's ERCOT exploding rates - is far more expensive than using natural gas.
That's an ERCOT problem. And I guarantee you, if you average the cost on a long term scale it's better. Just because heat pumps work poorly in super cold weather doesn't mean they're not the better choice.
That’s an ERCOT problem.
Perhaps. But its hard to ignore when you're in Texas.
if you average the cost on a long term scale it’s better
I've heard this claim with roof solar panels as well. As soon as I actually crunch the numbers, you're talking about a 5-10 year window before you see any kind of payoff.
If we're talking about Multi-Family Units that have an industrial scale system? Sure. Would be great if these were mandatory, both to keep down energy utilization and overall costs. But for detached dwellings, you're talking about a huge upfront cost with a lot of potential risks of improper installation and some very marginal changes in cost over a few months a year that aren't notably better than a well-maintained higher end HVAC or... just insulating your home better.
Many of us are not under ERCOT. Utilities in Louisiana are heavily regulated. I doubt that they can do much without running into trouble.
If they’re only selling you natural gas, I’d get a heat pump with some solar panels and disconnect the natural gas line.
Good idea but doesn't help us renters a ton.
Wondering what's happening around here, meant to dig in.
I travel 30-miles out to my camp in the NW Florida boondocks. Solar is booming around here. "They", whoever they is, put in a huge farm to the north, and a bigger one just went up to the south. There's another new road marked, "Bla, bla, whatever, Solar Project". I've got lost and stumbled on yet a 4th monster farm.
While I hate to see hundreds of acres of ecosystem literally burned to make space, it seems worth it. But where is that stunning amount of power going? Who owns it? Is my house getting that power? Is it lowering my bill? Can we draw the local (coal?) power plant down?
I'm all in for nuclear, but I'll take solar all day long. Been screwing around with cheap panels at home and camp to charge 12V deep-cycle batteries. Works great! One more panel (3x) and I can drive the trolling motor on my tiny boat free and clear!
I look forward to seeing you trolling on here!
Louisiana has always had an issue with overt corruption but complete private capture of a utility is still beyond the pale. Good on you, Louisiana for finally twisting all the knives.
view more: next ›