there is no need to consider very marginal cases such disaster stricken areas shortly after the disasters occur.
the difficulty of transport is non-existent if you place your power plant in the vicinity of the population (as such is the general case).
you also assume a small power pool. i mentioned the incentive is there to build a power production capacity far larger than the one needed to supply the nearby population, due to mining profits.
the correlation will probably start appearing once the practice of expanding the power capacity of the plants to capitalize on bitcoin mining becomes a common practice around the world.
the cost of production might not be so different for different parts of the world in the future as you might expect, with giant batteries becoming ever more cheap, which will drastically ease the exploit of natural renewable energies such as wind and solar.
As you said, electricity prices are different around the world. So that obviously means that the cost of mining a bitcoin (and thus trading it on a local exchange) will be slightly higher or lower than the mean.
But I'm inclined to believe there's only a weak correlation between the two prices, because electricity prices are far more affected by inflation (i.e. the local currency's price - even in the case of USD it can be measured by a 3rd, stable asset e.g. gold) than they are by some random geeks trading on exchanges.
The price of electricity is not something that is ever going high, you could always have the electricity prices going down because people could make their own. Lately the solar panel world is getting cheaper and more durable, that is of course technology getting better. So for mining, you have to spend a lot less on solar panels and you will end up with a result that should be all that better.
I understand that it may not be the fixed rate that you get from the companies, it's a different method, but if you are doing something like a crypto mining company, you should be able to spend some on solar panels as well. It would make it self sufficient as well, it will definitely cause you to get a lot better one way or another. I believe that we could have some situations that will be profitable for the miners, so they should try their very best and could probably end up with a result that should give them a good return on their investment.
