Wednesday, July 14th, 2021

Time	Event
6:12p	Backblaze Raises Subscription Pricing of Personal Backup Backblaze CEO Gleb Budman, writing on the company blog: Over the last 14 years, we have worked diligently to keep our costs low and pass our savings on to customers. We've invested in deduplication, compression, and other technologies to continually optimize our storage platform and drive our costs down -- savings which we pass on to our customers in the form of storing more data for the same price. However, the average backup size stored by Computer Backup customers has spiked 15% over just the last two years. Additionally, not only have component prices not fallen at traditional rates, but recently electronic components that we rely on to provide our services have actually increased in price. The combination of these two trends, along with our desire to continue investing in providing a great service, is driving the need to modestly increase our prices. The new monthly plan now costs $7, while the yearly plan will set you back by $70. Read more of this story at Slashdot. (Comment on this)
8:41p	Gas Sellers Reaped $11 Billion Windfall During Texas Freeze The official autopsy of the great Texas winter blackout of February 2021 quickly established a clear timeline of events: Electric utilities cut off power to customers and distributors as well as natural gas producers, which in turn triggered a negative feedback loop that sunk the state deeper and deeper into frigid darkness. It's now becoming clear that while millions of Texans endured days of power cuts, the state's gas producers contributed to fuel shortages, allowing pipelines and traders to profit handsomely off them. From a report: Interviews with energy executives and an analysis of public records by Bloomberg News show that natural gas producers in the Permian shale basin began to drastically reduce output days before power companies cut them off. As the flow of gas cratered, everyone scrambled to secure enough supply, sparking one of the wildest price surges in history. Power producers were forced to pay top dollar in the spot market for whatever gas they could find. Soon customers will be saddled with the bill. And it's a big one: The total comes to about $11.1 billion for a storm that lasted for just five days, according to estimates by BloombergNEF analysts Jade Patterson and Nakul Nair. The cost of gas for power generation alone was about $8.1 billion, or 75 times normal levels. A further $3 billion was spent by utilities providing gas for cooking, heating and fireplaces. The BNEF estimate is based on spot prices at major hubs assessed by S&P Global Platts rather than private contracts, so is likely an upper limit of the total cost. Millions of Texans are now faced with the prospect of paying higher gas prices for years as utilities seek to spread the cost over a decade or more. Texas lawmakers have set aside $10 billion to help natural gas utilities cover their natural gas costs from the storm through low-interest, state-backed bonds. A special legislative session convened Thursday but the agenda did not include any measures to fix the power grid. This week, Governor Greg Abbott appeared to double down on his early assessment that wind and solar were prime culprits of the freeze. Even though gas failed in its role as a reliable backup fuel during the freeze, Abbott pushed regulators in a letter to strengthen incentives for fossil fuel and nuclear generators while increasing "reliability costs" for intermittent renewable power sources. What Abbott didn't mention was the massive windfall key industry players made during the freeze. Energy Transfer posted its highest quarterly net income on record, more than three times its previous best quarter. Read more of this story at Slashdot. (Comment on this)
9:22p	PC Market Growth Slows Amid Global Chip Shortages The PC market is showing early signs of its growth slowing down, after an impressive run of shipments throughout 2020. From a report: Both IDC and Gartner conclude that growth in the second quarter of PC shipments has slowed this year. Demand for new PCs is still above what we saw before the pandemic hit, but a mixture of softer demand and the effects of the global chip shortage mean it's not growing as quickly. "The market faces mixed signals as far as demand is concerned," says Neha Mahajan, a senior research analyst at IDC. "With businesses opening back up, demand potential in the commercial segment appears promising. However, there are also early indicators of consumer demand slowing down as people shift spending priorities after nearly a year of aggressive PC buying." IDC says more than 83 million PCs were shipped in the second quarter of 2021, while Gartner's own figure is more than 71 million. Gartner does not include Chromebook shipments in its results, but the research firm says "Chromebook shipments were once again strong in the second quarter of 2021." Either way, both firms agree that year-over-year growth in this latest quarter wasn't as strong as 2020's sudden growth. Read more of this story at Slashdot. (Comment on this)

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