Comment on AI Electric Bills

• spongebue@lemmy.world ⁨2⁩ ⁨weeks⁩ ago

  I’m not sure about that. The way I see it, there will be more supply for the below-expectation demand, which would make prices go down

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  • obsoleteacct@lemmy.zip ⁨2⁩ ⁨weeks⁩ ago

    They can turn off some generators and adjust the supply down for ideal revenue/profits, reduce staffing levels, and extend equipment life. There’s no reason for them to charge you $50 for something once you’ve told them you’ll pay $100 for it.

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    • spongebue@lemmy.world ⁨2⁩ ⁨weeks⁩ ago

      Still nothing terribly new here. Energy has always had inelastic demand, meaning usage doesn’t change much with price. Whether gas costs 1, 3, or 5 dollars people still need to get to work and will still buy stuff. Maybe people will start to combine trips or whatever with higher prices, but nothing huge.

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      • obsoleteacct@lemmy.zip ⁨2⁩ ⁨weeks⁩ ago

        Exactly, so there’s never a reason to bring down the price. If anything you’d bring down the supply (e.g. Enron during the California energy crisis).

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  • slazer2au@lemmy.world ⁨2⁩ ⁨weeks⁩ ago

    Ah, but you are forgetting about corporate greed and industry collusion.

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    • spongebue@lemmy.world ⁨2⁩ ⁨weeks⁩ ago

      Which wasn’t a factor before? 😉

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  • Jhex@lemmy.world ⁨2⁩ ⁨weeks⁩ ago

    Let me introduce you to a little scam called " price stickiness"

    Basically prices are quick to go up but VERY SLOW to go back down… on the opposite side, wages are quick to go down but VERY SLOW to get back up

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    • spongebue@lemmy.world ⁨2⁩ ⁨weeks⁩ ago

      I never said it would happen immediately 😉

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      • Jhex@lemmy.world ⁨2⁩ ⁨weeks⁩ ago

        well, if it won’t happen in our life time, I assume it to be “never”

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