00:00:00
our estimates suggest that it is several
00:00:02
billion dollars a year across the US the
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main reason for the $2 billion is that
00:00:08
the flat pricing for end consumers it
00:00:10
leads to inefficient energy use we use
00:00:12
it at the wrong time of the day so
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there's sort of two things that are
00:00:16
costly one is during peak hours in hot
00:00:18
weather the wholesale prices are very
00:00:20
high for electricity but consumers don't
00:00:22
have much of an incentive to increase
00:00:24
their thermostat settings and help the
00:00:26
power system so to speak so they consume
00:00:28
way too much power exactly when it's
00:00:30
very expensive to generate and then the
00:00:32
flip side is is that there's also hours
00:00:34
of the day where electricity is very
00:00:36
cheap it would be perfect to charge your
00:00:39
electric vehicles but you still pay that
00:00:41
same flat price so you're not seeing
00:00:43
that very low price in the wholesale
00:00:44
market so we're also inefficiently not
00:00:47
charging our cars and doing our clothes
00:00:49
washing when it would be great to do so
00:00:51
and that Al together is sort of a total
00:00:54
loss of several billions a year
