Some fun numbers (@ $9/kwh):

Running a 1kw microwave costs 15 cents a minute.

Watching a 2 hour movie on a 65" TV costs a dollar.

Playing a PS4 is $2/hr.

Edit: Added @9/kwh because it wasn't clear that's what I was using in my calculations

Most (I assume) residential consumers pay a fixed price, so that cost falls to the energy providers. Events like these have caused smaller Retail Energy Providers to have to go bankrupt due to not being able to pay for the demand of their customers.

No one pays that. This is the realtime spot price, which is only paid by retailers who have an "oh shit" problem with their advanced purchasing. (I should note, there are actually retailers who will sell you spot priced power, should that be your desire).

The vast, vast majority of power is purchased years (via PPAs) to days ahead of time at much more reasonable and stable prices.

I'm surprised there aren't rate limiting controls for home when certain rates are hit (that the home owner can set).