You switched the lights on. Traders made billions of dollars
Fog in Hungary in the morning predicts the spike in intra-day electricity prices. Algorithms buy power contracts and make money, when prices rise. Traders in Denmark are using the upheaval of the green energy transition and Russia's war. Five years ago, they made $100 mln per year, now it is $5 bln and European consumers are paying the price.

17 January 2024

Bloomberg