UK Gas Plants Made Millions in a Few Hours During Price Spike

bloomberg.com

7 points·festive_chaum··5 comments

I'm sure that after the hundreds of millions if not billions theseplants cost to mconstruct, as well as the expenses of millions per month just keeping the lights on, they are overjoyed to make a few million from when they were most needed.

Germany is investigating the sudden peak in price of electricity last week. Misuse is supposed and suspected.

What does "misuse" of electricity even mean? And why is it bad? Sounds like some Soviet Union kind of "suspicion". If something is sold and price is based on supply and demand, what is "misuse"? With claims like that, no longer surprising far right are surging in the polls, at least they won't allow this kind of bs through.

Misuse of the regulations that are fired up in cases there's not enough sun/wind for electricity production - It's suspected that the companies didn't startup their production of electricity with gas/other on purpose (or, that they omited it). By this the prices for electricity skyrocketed. Then the production of electricity has been fired up with gas. Because the price for electricity was very high, the companies earned a lot.

That is investigated. There's nothing soviet in it. There are regulations how to proceed, these haven't been followed. That's all. Not a problem of demand/supply.

Australian gas plants were doing similar. Big batteries initially saved consumers millions by breaking that price fixing arrangement.

Though more recently the gas plants have been building batteries themselves and trying to repeat the trick.

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