The SCAM of Europe's electricity market! Yanis Varoufakis lays it out. We are getting MILKED!!! The biggest SCAM, EVER!!!

I know right??
Bastards invented electricity and ran it in all homes. F**kers.

he's not explaining anything, he's confusing the shit out of something very simple

I understand the electricity market in the US, and it sounds like Europe is similar enough for a comparison.

"Marginal cost pricing" isn't just the highest cost producer, but the highest cost producer that gets to sell. If the demand is 100 (of whatever units) and there are 105 cheaper offers below you, you don't get picked up and your bid doesn't matter. But the guy who sells the 100th cheapest unit sets the price for all 100.

After all why discriminate among kilowatt-hours? They're all the same and today they have some price, the same for all.

This does not explain the increasing margins. And the system didn't change, so why the incentive to cheat now, if that's what is going on? I don't know but neither does he, and he's incorrectly using it as an excuse for the following.

What Varoufakis proposes is to pay much less for solar kilowatt-hours because they have zero marginal cost. As an incentive he offers a 5% profit. (Actually 5% of 0 is 0 so that's no incentive for solar to even provide their power to the grid.)

But the plants with the lowest marginal cost have high fixed costs. You have to buy those solar panels, and after 10 years you have to replace them. How do they get paid for that? A coal-fired power plant or nuclear plant can last many decades, not solar panels. If solar were truly cheaper to produce overall, we'd have solar all over the place and people raving about how great it is. We don't.

It's a system that sounds like communism. A bit of communism is fine as long as it doesn't flower and expand. But we've never known how to prevent that.

Also with electricity everything has to be divided into specific hours or blocks of the day. A kilowatt at 3pm can run your air conditioner and may be produced by solar. A kilowatt at 3am probably isn't needed for AC but won't be produced by solar. They are much different.

Don't need spock the grifter to tell us that

This will become a lock if there is global government.

With no way out.

The left that supports global government have no idea.

Young = naive

listen to all the shill comments , telling him how great he is.

He's not telling you anything useful, not giving you the target list, he's bamboozing you with bullshit economics

Hi CLiff, any summary notes?

You are gonna make Greta cry!!

F off spock