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A comment on Is Bitcoin a Waste of Electricity, or Something Worse?. Parent comment
So the power company has a grid, and they monitor the amount of power generated with the amount of power consumed.
They know this because they have sensors at the substations that can tell how much power is being used.
If too much power is being generated, they can sell the power to another company, or turn off excess capacity.
If not enough power is being generated, they can buy the deficit from another company, or increase the generation.
It's really straightforward.
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So the power company has a grid, and they monitor the amount of power generated with the amount of power consumed.
They know this because they have sensors at the substations that can tell how much power is being used.
If too much power is being generated, they can sell the power to another company, or turn off excess capacity.
If not enough power is being generated, they can buy the deficit from another company, or increase the generation.
It's really straightforward.