this post was submitted on 12 Nov 2023
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[–] UnderpantsWeevil@lemmy.world 2 points 1 year ago

Oh yeah how’s that independent power grid working out?

Ironically enough, its been a huge boon for renewable energy providers. ERCOT auction rates effectively subsidize green producers at fossil fuel prices, so when the gas cartels squeeze the price up to $5000 MwH, all the wind and solar providers (which can flood the grid with energy to the point that they risk operating at a loss) pick up a massive ahem windfall on those last few MwHs sold.

Because building these facilities is so cheap and running them is basically free, the Texas Gulf Coast and the Midland area have been filling up with enormous green energy facilities to capitalize on these fossil-fuel cartel induced price spikes.