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Use custom ticks as mentioned in the documentation or question 7855 on ask. In your situation, something like this might work

sage: from matplotlib import ticker
sage: TT = ticker.FormatStrFormatter('%.7e')
sage: point2d([(0, 7.9123432e-12), (1, 7.9123471e-12), (2, 7.9123457e-12)], tick_formatter=[None,TT])

Though it is not very readable. I would advice you to translate the y-axis so that you actually see the difference on the first digit (in my case I would translate by 7.91234e-12).