A lot of grid is wasted during off peak times. Energy is stored or sold in inefficient manners. Instead, they should use any excess energy in mining bitcoins to sell. Rather than raising electric rates, they can increase their customer base. Their price discovery will be the electricity/btc pair. They can choose which will be most profitable. Storage can then be bought by customers for their needs based on rates. This just seems more efficient than being forced to sell to only one market.
Actually, I think its more profitable and better for ASIC manufacturer as compare to power company to mine bitcoin. Power company can do other related business like selling battery.
Not all the extra-energy is stored in batteries. Do you know about Pumped storage hydroelectricity? (and it's only an example). Bitcoin is not profitable for the electricity companies.
Bye!
That's only a tiny percent of electricity produced. Bye!
