Comment by FrustratedMonky
2 years ago
Just a few months ago on HN there was a thread discussing the upcoming summer.
Was surprised just how many 'free-market' advocates came out to say how great things were, how the market has created additional supply, and all this was just lib panic.
They are paying 'crypto-miners' to temporarily stop running? That is absurd. So I could make money just by moving a mining operation to Texas, and wait for a shutdown.
How much failure does it take to realize some regulation is good. It benefits everyone.
The market did create a ton of supply. It added so much supply electric contracts went as low as $0.10/kWh including delivery costs at the start of the summer. It added several state's worth of supply. Its just people demanded even more with 7x more growth in demand than historical.