It’s not a cartel risk. It’s a supply and demand equation.
Cartels love industries with inelastic demand.
It’s just market prices.
Markets aren’t magic. Prices are a consequence of human decisions. And if you can withhold electricity from the grid to maximize returns (by forming a cartel with other producers) you can drive those prices up when people can least afford to reduce consumption.
Wanderer@lemm.ee 4 months ago
Isn’t it tonnes of different people, farmers and such. Too many for a cartel to form. Reducing supply is just going to mean to make less money.
Batteries are making the grid a lot more elastic.
UnderpantsWeevil@lemmy.world 4 months ago
Farmers and such are not selling power on the Texas wholesale electric grid, no.
Because fossil fuel supplies are limited, you can often make more money selling a small amount onto the market at a high price than a large amount onto the market at a low price.
Wanderer@lemm.ee 4 months ago
Some people ideas of capitalism are so warped.
If there is an energy cartel report them.
UnderpantsWeevil@lemmy.world 4 months ago
I’ll notify Ken Paxton right away. I’m sure he’ll get right on it.