BLOCKNEWS GEORGIA

By Nina Kikava - News - 2 months ago

Regional Washington District Proposes Different Pricing System For Crypto Miners

According to Central Washington radio KPQ report, that was published on November 14, Washington’s Chelan County Public Utility District (PUD) is planning to increase the cost on electricity for crypto miners.

Lindsey Mohns, who is customer utility rate advisor, made a comment on this matter, where she tried to explain the difference between electricity pricing system that is active today and electricity pricing system that is being proposed:

“What this new rate structure (Schedule 36) does is brings into it a market consideration on the energy price because we will have to purchase power on the market to serve the variable load associated with cryptocurrency.”

Kimberlee Craig, who is the public information officer at the company commented on this matter as well: “the district is addressing (the rate structure) in a way that captures the cost and protects the investment for the customers that are already here and invested greatly in our system.”

On November 7, there was a public meeting where a new pricing system was announced and explained. After the meeting people were left with a lot of questions, which later went online on forums, where a lot of people who are connected to the crypto industry in their own ways indicated their bad attitude towards the change.

Among these people was Denton Meier, who is part owner of Firefly Technologies. He attended the announcement and expressed his opinion on upcoming changes referring to electricity pricing system:

"I think it’s nice to be able to make comment but it seems like they’ve already made up their mind. What’s been missing is actually a round-table discussion and more of a brainstorming session. How can we really affect the local economy, how can we work together? Let’s create a business-case scenario and include the PUD in that. ” Meier commented.

In April, the company decided to place a ban on cryptocurrency miners due to some unauthorized miners in the area. Chelan is not the only region where there has been a ban placed on crypto miners, for example in the city of Ephrata, there has been a huge one year ban placed on crypto operations.