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Sophisticated traders draw criticism for profiting off power shortages

15
Aug
2014

As summer heat spikes and air conditioning units flip on across New Yorks Long Island neighborhoods, the aging electrical grid is struggling to handle the demand. To compensate these local power plants reach across the state and the nation, borrowing juice from places with electricity to spare. Congestion contracts allow private companies to wager on the nations recently deregulated electrical grid The New York Times published a lengthy report this morning about DC Energy, a Virginia firm staffed with experts in chemical engineering and artificial intelligence who study the power grid and create complex algorithms that spot trading opportunities.

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