(Reuters) – Traders at Goldman Sachs Group Inc (NYSE:) are set to bring in significant profits from the freeze that led to a major blackout across U.S. states last month, Bloomberg News reported on Friday.
The Wall Street investment bank could possibly make about $200 million, at least on paper, from the physical sale of power and and from financial hedges after spot prices jumped, the report said, citing people familiar with the matter.
Goldman did not immediately respond to a Reuters request for comment.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Be the first to comment