this post was submitted on 28 Feb 2025
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We don't really: that story you heard from a few years ago was the only company that billed like that. The customers made a bet that the pricing averages through the day (lower at night, higher cost during the day) would average out in their favor over fixed-cost billing, and frankly, it did right up until it didn't.
They took a risk and got bit by, frankly, not understanding how the system works and basically ate the spikes.
Everyone else paid $0.09/kwh or so during that whole period, and the electric providers ate the cost because when you're averaging out spikes across millions of kwh, it won't lead to bankruptcy.