Contracting with an electric wholesaler is precisely what free-marketers do to try and save a buck and cut out that meddlesome utility middleman. You're giving up the stability of a pooled service in favor of shaving a bit off the price - this normally works in your favor except when it doesn't, and in this case it really doesn't.

I wouldn't say I'm critical of those people, I'm critical of the extremist laissez faire policies in Texas that led to this disaster in general and electricity wholesalers in particular. I am, however, critical of folks who would bemoan medicaid and disaster relief funds until it hits them - in this particular case I don't know enough about the individuals to judge - but asking for 1 billion in damages is pretty extreme if they lost 9k and were one of just 29k customers.

I think people are critical of the fact that the lack of regulation in the Texas power market allowed somebody who had absolutely zero idea of the agreement she was entering to make such a catastrophically bad deal.

I'd consider myself a somewhat sophisticated financial trader and power derivatives are beyond me. I maintain calls on electricity generation by paying a fixed rate for power.

No brokerage firm would allow this person to basically gamble on spot electricity prices but somehow it's okay in the great state of texas.

When you sign up for a variable rate loan and default, you should not sue.

The provider in question was providing a service at a variable rate. It had to have been clearly part of the terms.

Who to blame are the regulators. Variable rate loans shouldn’t be allowed and neither should this variable rate wholesale crap.

But suing someone over a bill in a class-action suit? Do you think the consumers will all get refunded fully? The law firm will get that money.

How is it critical to say people should honor their commitments? Recession or not, we are a nation of laws.

There are plenty of fixed rate providers. She opted to take this risk to save a few cents/kwh the rest of the time. This is the trade off.