Re:Bidding error sees Finnish day-ahead power price tumble t...
by sigurdjs on Thursday November 23, 2023 @06:09PM
(#38398772)
They cannot produce that amount of power and needs to buy it back on the secondary market. Will likely cost around 100Meur.
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Re:Bidding error sees Finnish day-ahead power price tumble t...
by codetrotter on Thursday November 23, 2023 @06:19PM
(#38398880)
FTA:
> "We are working with other market parties to solve this extreme situation," it said.
Sounds like they are working on an agreement with the others to avoid their mistake turning out to be as costly as that.
It’s probably in the interest of all of the participants that this is resolved with a less costly outcome. After all, who knows which of them will be the one making a similar mistake next time. It’ll be good for them then, if they played nicely now as that can inspire how future happenings will play out.
Re:Bidding error sees Finnish day-ahead power price tumble t...
by kragen on Thursday November 23, 2023 @06:32PM
(#38398966)
this is similar to how knight capital lost 440 million us dollars one afternoon in a trading bot bug and had to get merged with one of their competitors. this isn't quite that big