Comment by friend_and_foe
2 years ago
Opens with a disingenuous "$86M owed, which will be paid for by Texas consumers" no, it already has been paid for by consumers when they bought the energy from them because they needed it. I'm trying to figure out if these people truly don't know how any of this works because they're uninterested or if they deliberately pretend like they don't because the truth is not condusive to the narrative they want to build.
Not sure how one can “buy energy” from a crypto company that doesn’t generate electricity…
This is known as a Virtual Power Plant.[0] In the case of this cryptocurrency company, they are selling the electricity that they "would" be consuming if it wasn't being bought back from them. If they hadn't "sold" it back to the grid, it wouldn't have been available to be used by other customers.
[0]https://en.wikipedia.org/wiki/Virtual_power_plant
What an absurd name for basically a big resistor generating heat you are paid to disconnect from the grid when it’s about to go up in flames. They need batteries not sudoku solver bots. Talk about doublespeak in this case, wow.
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They had already purchased it and sold it back.
This site is pretty generic template agitprop. Industry and activist groups make things like this all of the time to frame certain issues they don't like in the worst possible light.
You can find this sort of stuff in lots of industries that have cash flows at risk that are trying to manufacture outrage in the voting public to create activists who will attempt to influence legislative priorities.
They hate crypto, and they hate Texas, so they can take a cheap shot.
Who is this they you speak of? Texas is a beautiful state, with a psychotic energy system, and a government that doesn’t represent the will of their people.
You've never been to Texas if you think it's beautiful lol. Its pretty in some places, particularly the desert and hills, but most of Texas is flat, muggy, hot, the forests are overgrown, pig farms and grain fields. Even the ocean is brown. California is beautiful. Texas is mid at best. But it has other things going for it.
The energy system in Texas is one of it's strengths, the government does represent the will of the majority and is probably the main thing the state has going for it, that and energy resources. People don't move there because it's beautiful, they move there because it is governed and run pretty sensibly.
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The UK has an almost identical power market. We just generate more wind and solar than anyone else.