this post was submitted on 19 May 2024
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Texas power prices briefly soar 1,600% as a spring heat wave is expected to drive record demand for energy (fortune.com)
submitted 6 months ago by pro_grammer@programming.dev to c/technology@lemmy.world
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[–] n3m37h@sh.itjust.works 12 points 6 months ago (2 children)

And yet prices still surged 1600%

[–] DMBFFF@lemmy.world 1 points 6 months ago

The higher the percentage, the greater the incentive.

[–] orrk@lemmy.world -3 points 6 months ago (1 children)

why would you think that any of this effects prices?

[–] n3m37h@sh.itjust.works 4 points 6 months ago (2 children)

It should reduce the costs, but Texas is so fucked....

[–] gravitas_deficiency@sh.itjust.works 1 points 6 months ago

You are free… to pay as much as you possibly can for electricity.

[–] orrk@lemmy.world 0 points 6 months ago

why? what mechanism forces them to lower prices? the same that keep corporate profits at record highs year after year? we recently saw just how silly the idea of competition making anything cheaper is when every, even tho, there was no reason for doing so, started upping the prices of groceries, because they could.