Rosseti Explores Crypto Mining to Stabilize Power Grid and Boost Revenue
Rosseti, Russia's largest power grid company, is exploring ways to manage and utilize energy consumption from cryptocurrency mining facilities. The company seeks to determine the locations of these facilities, monitor their energy use, and even engage in mining activities itself.
Rosseti's primary goal is to stabilize the power grid and avoid bottlenecks. It plans to control energy consumption by miners, potentially throttling facilities during peak load times and encouraging off-peak hour activities. The company also aims to better utilize unused capacities and increase load on power centers, generating additional revenue from tariffs and keeping electricity prices affordable for the population.
Rosseti observed a decrease in energy consumption in certain regions, leading to unused network capacities and rising maintenance costs. To address this, the company plans to integrate cryptocurrency mining into its power grid, utilizing underutilized power plants more efficiently. By offering discounted electricity prices or special variable tariff models, Rosseti aims to attract new consumers like mining companies, boosting electricity demand in regions with low network utilization.
However, Rosseti's plan has sparked criticism, with concerns raised about potential violations of competition principles if the company engages in mining itself. The Russian government has designated the non-profit organization 'Digital Economy' as the coordinator for the localization of mining operations in Russia. Despite these efforts, it remains uncertain whether Rosseti's measures will help Russia achieve its planned leading role in mining, as such regulations often have a deterrent effect on private mining companies.
Rosseti's initiative to manage and utilize energy consumption from cryptocurrency mining facilities is a significant step towards stabilizing Russia's power grid and increasing efficiency. However, the company must navigate potential competition concerns and ensure its actions do not deter private mining companies, as Russia seeks to establish a leading role in the mining industry.
