The Blackout Trade: How a Power Market Went Dark in California
Transmission towers in Crockett, California, U.S. (Photographer: David Paul Morris/Bloomberg)

The Blackout Trade: How a Power Market Went Dark in California

(Bloomberg) -- By Aug. 16, heat was smothering California, and alarms were going off in the city of Folsom. There, the operators of the state’s vast electrical grid were facing a troubling question...
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