Portland Power Traders Lose Big on California Blackout
- Portland General increased bets ahead of California outages
- Company said it has placed two people on administrative leave
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The financial losers of California’s rolling blackouts are beginning to emerge.
Portland General Electric Co., the utility that powers almost half of Oregon, plunged the most in five months after the company said it’s poised to lose as much as $155 million due to trades it made this year as wholesale electricity prices surged.