I had written up a big rant about how stupid this video was, but after doing some digging I have discovered for myself it is only slightly less stupid than I thought.

Earthquake lights are an apparently maybe real thing. There isn't any solid theories explaining how it works, but there are some ideas of how it could be possible. A quick google search turns up articles and everything on the subject.

However, I do not think that is what is happening in this particular video from 5:00 on. For one, most earthquake lights last moments, rarely minutes. If you watch, you can see the background going dark, then light again. This is an accelerated night time observation of the volcano in the background, using a light sensitive camera during a time-lapse recording mode. In this case, the camera was placed unfortunately, and gets blasted in the face with a light of some kind all night long, that then shuts off as the sun begins to rise. The "plasma discharges" are just vehicles driving around, being captured at regular intervals due to the time lapse delay between frames, which gives a "pulse" appearance.

Additionally, the part about electricity forming clouds is bullshit. That's a condensation cloud, formed from the force of the eruption. Electricity within the plumes of the volcanoes themselves, however, is quite real, and totally awesome!