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Goldman’s Icy Arbitrage Draws Interest to Meet EPA Rule

Clustered deep beneath the trading floors of Goldman Sachs Group Inc.’s Manhattan headquarters are 92 tanks with enough ice for 3.4 million margaritas.

Goldman runs chilled anti-freeze through pipes connected to the 11-ton vessels during summer nights -- when power costs less -- to freeze the water. That ice is used the next day in its air-conditioning system, when high-demand electricity comes with a surcharge.