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ThurberMingus · 806 days ago · link · · parent · post: The Texas Electric Grid Failure Was a Warm-up
Wait, was someone planning to pay miners the cost of electricity to shut down during a price surge? I assumed this was a free market 'they'll shut down on their own when it's too expensive' plan that ignored a net increase in demand will still cause an increase in prices.
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am_Unition · 806 days ago · link ·
That's exactly the issue. The decisions made by grid operators that saved the grid from complete failure hinged on assessments down to the minute. Relying on mining companies to react quickly enough to an escalating crisis is a mistake. Not that I have any faith in the grid operators, btw.