Traders Bet on Cheap California Power. Then Blackouts Hit.
Transmission towers alongside a Pacific Gas & Electric Co. substation in Crockett, California, U.S. (Photographer: David Paul Morris/Bloomberg)

Traders Bet on Cheap California Power. Then Blackouts Hit.

(Bloomberg) -- Ahead of California’s rolling blackouts, traders and power producers boosted bets on falling electricity prices. Some of them may be caught short after the outages sent prices surging.
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