Before dawn on a recent autumn day, fog set in over large swaths of Eastern Europe. In any other financial market, the weather wouldn’t have mattered much. Perhaps a few delayed flights, maybe some traffic jams, most of little consequence. But in Europe’s electricity bazaar, bad weather equals money.More than 1,000 kilometers away from the fog, a small group of largely anonymous trading firms based in Denmark was ready to pounce. As soon as the infrared picture from a Meteosat weather…
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Europe’s Energy Markets Are Being Upended by Denmark’s Electricity Traders
