Oddbean new post about | logout
 @1f15c8ed @f8d9bc1c In the case of the Texas grid, it's not "government seizing control" at all. There are 2 ways miners turn off temporarily:

1. When spot market prices for electricity increase too much, i.e. there's either not enough wind or demand increases dramatically, miners turn off their machines when it's not profitable.
2. The ERS (Emergency Response Service) allows ERCOT to purchase control over generation and load for rapid intervention. Those agreements are signed voluntarily.