WASHINGTON PROPOSES TO INCREASE THE COST OF ELECTRICITY FOR MINERS

Washington state energy company Chelan PUD has proposed a new electricity pricing structure for cryptocurrency miners to reduce the unprecedented increase in electricity demand in the region.

Chelan PUD, providing public services in the County of Cheney, Washington, explains that the difference between the current and the proposed system of pricing of electricity calculated on the basis of the increased demand for electricity on the part of miners and implies an increase in cost due to the shortages of generating capacity.

“The new structure for calculating the electricity tariff (Schedule 36) will allow the company to buy enough electricity in the market to provide a variable load on the networks associated with the production of cryptocurrencies.”

On November 7, when Chelan County introduced a new electricity pricing system, “many members of the Washington state crypto community expressed sharp dissatisfaction with the proposed increased costs.” It is estimated that expenditures of miners for electricity could rise by 20-30%.

It should be noted that last week the Bureau of industry and trade of Injiang in China, which monitors the protection of consumer rights, issued a warning to mining-farms of Yunnan province about the need to register with the Bureau of electricity — if the requirement is not met, the regulator can turn off the supply of electricity to mining centers.

Recall that in July, the state of New York also approved new electricity tariffs for miners, but in this region the new provisions, on the contrary, contribute to the satisfaction of “the needs of wholesale customers in the field of mining.”