Energy bills are climbing again in the UK while billions are being paid out in curtailment costs. Flexible load solutions that could help stabilise the grid are being ignored.
According to the Financial Times, in the 2024–25 financial year. NESO spent £2.7 billion in total balancing costs in 2024–25, with wind curtailment a major contributor.
This curtailment happened because the grid could not handle the excess electricity.
https://ft.com/content/221d5b5d-ae51-4a6c-8516-b3b906d3ff89
Recent coverage paints a clear picture.
YahooFinance and CoinDesk report on Hut 8’s efforts to monetise energy assets, showing how miners are aligning with the energy sector to provide stability and unlock new revenue streams.
https://finance.yahoo.com/news/hut-8-maps-path-monetization-131011324.html
Our UK briefing paper at nostr:nprofile1qqsp02kerjznyqgla3gujxw33dhr80lm7pvhp9vn8p2f2095afggdcgpzpmhxue69uhkummnw3ezuamfdejszrthwden5te0dehhxtnvdakqz2r55r shows exactly how Bitcoin mining could do the same here.
Flexible load can absorb excess renewable generation, reduce curtailment costs, and lower bills for households and businesses.
The UK energy crisis is not going away. It is time to stop ignoring solutions that are already working elsewhere.
H/t to Progressive Bitcoin UK for today’s newspaper headlines.
Its almost as if this is a very deliberate ploy by the labour government to bring the UK to its knees, in order for it necessary to have to go back to the IMF for a bail out , and one of the preconditions of the bail out the IMF will request we re-join the EU.
There can be no other reason, other than complete stupidity , which given the state of the talent available in the labour party we obviously can't rule out either.
The UK prints its own money, hence IMF bailout would never happen. Don’t believe the hype.
It will happen. It’s happened before. It will happen again.
The UK can only continue to print its own money if the Bond market thinks it can pay it back. Right now , that is definitely not the case
Fair play, though since the GFC, everyday practices exist now that they wouldn’t have dreamt of in the 70s. In relation to the bond market, looking back at the Truss effect, it seems to me that printing increases even more when the market starts to slide no?
The “Truss Effect” is total BS, the bond Market has been at the same levels as the Truss blip , for almost the entire year. If they print more, it will have the Weimar effect. Those “everyday” practices have actually put the UK in a far more precarious position
