Comment by pjc50
2 years ago
Electricity markets are not just spot prices. There's sub-markets for being available to respond to emergencies.
The UK system: https://www.nationalgrideso.com/industry-information/balanci...
It seems you'd be eligible for "quick reserve" if you could turn on or off >1MW of response within one minute. Ideal for batteries. Includes a "standby" fee paid hourly to cover having the system "armed".
(It seems unlikely that either the bitcoin operation or their electricity meter could manage sub-minute response times to changes in prices alone? I'm not exactly sure how metering and payment works at grid level and how granular it is)
The Texas and UK power market are actually very similar in construction and operation.
It certainly could