4 ms·
As if negative prices trickle down to the consumer. The electricity market is byzantine, rigged and has resulted in higher energy prices in the last 20 years.
by ash217 6mo ago
As if negative prices trickle down to the consumer. The electricity market is byzantine, rigged and has resulted in higher energy prices in the last 20 years.
- bombcar 6mo agoYou don't have a backyard aluminium smelter? https://en.wikipedia.org/wiki/Aluminium_smelting#Energy_use https://en.wikipedia.org/wiki/Aluminium_smelting#Energy_use
- mcintyre1994 6mo agoIn the UK you can get energy plans with a price that updates every half hour, published a day ahead. From 12:30pm - 4pm today that price is negative. It was also negative for around 16 hours of Easter Sunday. https://www.octopriceuk.app/agile https://www.octopriceuk.app/agile
- api 6mo agoWhere’s profitable crypto mining when you need it? Back yard plasma furnace? Artificial diamond making? Aluminum smelting?
- HPsquared 6mo agoEven just a large water tank which you can choose when to add heat. https://en.wikipedia.org/wiki/Seasonal_thermal_energy_storage https://en.wikipedia.org/wiki/Seasonal_thermal_energy_storag...
- rcxdude 6mo agoYou need something that's valuable, energy intensive, easy to stop and start, and cheap to build capacity for. Either or both of those last two tend to be the problem for most industrial processes (and also crypto mining).
- leonidasrup 6mo agoThere are may different energy storage systems. https://en.wikipedia.org/wiki/Energy_storage https://en.wikipedia.org/wiki/Energy_storage There have wildly different prices for unit of stored energy and wildly different storage times. https://css.umich.edu/publications/factsheets/energy/us-grid-energy-storage-factsheet https://css.umich.edu/publications/factsheets/energy/us-grid... It's not cost effective run aluminum smelting only during peak electricity production.
- paule89 6mo agoWell dynamic pricing only ever works until you have a power outage in the winter and suddenly you pay a years worth of money for the 1 hour you could use your fridge, during a snowstorm.
- HPsquared 6mo agoThat's what batteries are for.
- Ekaros 6mo agoThat is the trade off for renewables. Power is very expensive when needed and very cheap when not.
- leonidasrup 6mo agoElectric power is very expensive when demand is greater than supply, very cheap when supply is greater than demand.
- HPsquared 6mo agoOne property of electric power grids is that supply exactly equals demand.
- wrxd 6mo agoIt’s still capped at £1/kWh, which is a lot but also a price I’ve seen maybe for a few slots on a couple days in the last three years. The price was known ~1 day in advance so I had the choice to fill up the battery with cheaper (but still high) prices overnight and reduce the impact
- manarth 6mo agoConsumer pricing in the UK is regulated with a price cap (per kWh), so consumers can't be fleeced in an unexpected event. Business energy users aren't protected, so they buy long-term contracts, hedge, or go-under in the event of an unforeseen energy-shortage.
- testing22321 6mo agoA very large percentage of Australians are about to start getting free power for three hours a day [1]. So yes, it sure does! [1] https://www.newscientist.com/article/2503532-australia-is-getting-free-electricity-will-other-countries-follow/ https://www.newscientist.com/article/2503532-australia-is-ge...