Plans like that started gaining popularity in the recent years as in general they were cheaper than ones with fixed prices. Then because of the Russian invasion the prices skyrocketed with daily averages of even 30 and 40 cents and people were in deep trouble with their electric bills and many of them scrambled to get 20 - 30c/kWh one year long plans to save their asses. However the spot prices then dropped back to 3 to 4 cents for the spring and summer and now those people were stuck with their fixed price plans and are paying 10x the spot prices. Personally I just decided to gamble with the spot priced plan as my 6c/kWh plan had just ended and the 8 to 12 cents plans are all 1 to 2 years long. Despite freak days like this, on average, I’m still probably paying less than I would have with a fixed price plan.