Goldman’s Icy Arbitrage Draws Interest to Meet EPA Rule
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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.