> Let's put one thing front and center, you called it "rationing". You could be right or wrong, but you haven't supported your case at all, to demonstrate it's not just supply-demand.

Supply/demand and prices are rationing. Prices represent the limit on how much of a resource someone can use before there is reason to believe they should stop. It's happens to be best form of rationing we have, the other methods tend to lead to disincentives to improve the situation (consider, for example, how the market rations out limited supplies of RAM right now - prices go up and people who pay get the RAM and all the money going to RAM producers gives them resources and incentive to build new capacity to produce more RAM). There isn't a limit on demand for electricity other than the price, it does literally everything. At the extreme case, if it were somehow cheap enough, we'd be able to use it to fabricate new matter. But every step of the way there are population-level opportunities to use more energy to get more comfortable if there is enough of it.

You've been using the term "rationing" in a negative way, though. That implies more than the mere existence of supply and demand.