4 ms·
The difference, of course, is that electricity is a commodity: every unit of electricity is essentally the same as every other unit, it's not really practical o
by makomk 4y ago
The difference, of course, is that electricity is a commodity: every unit of electricity is essentally the same as every other unit, it's not really practical or useful to distinguish between them (they literally use the same wires), and buyers' need is satisfied by any of them. You'd be pissed off if you ordered caviar and got a scotch egg instead, but so long as the lights come on you don't think about where that particular electricity comes from. Other commodities apparently work in exactly the same way where the price is set by the highest seller, including bulk foods like wheat and rice. There's not really any obvious way to change it either; if there's someone willing to pay the higher price everyone obviously wants to sell to that buyer.
- ZeroGravitas 4y agoI like the system, but it doesn't stop it being accounting fiction. We made these rules up to ensure fair prices. We can rewrite the rules if we want. Which seems relevant when people are talking about society collapsing and people freezing to death. And some people have strong financial incentives to not fix it.
- Ekaros 4y agoI wonder how many consumers would be ready to have remote-relays next to their power meters. Let's say they buy wind energy. When there is no supply from wind or there is some problem they would not get power anymore. That would be workable model.