2 days ago
The Next Big Energy Trade Is Mega-Batteries for Europe's Excess Power
Three years ago, Castleton Commodities International analysts huddled in their London office to discuss how to make money from a growing phenomenon in the European power market — negative prices.
The dislocated markets and sharp price swings they saw are exactly the type of conditions that commodity traders like CCI thrive on. It's only becoming more widespread, as renewable output far outstrips demand at times during the day, sending prices below zero and causing excess supplies to be wasted. Then hours later, a drop in wind or the sun going down can see prices jump back up.
