French Power Operator Makes $60 Million Trading Error
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French power distributor Electricite de Strasbourg SA oversold large quantities of electricity due to trading errors earlier this week, a mistake that could cost the company 60 million euros ($60.3 million).
The utility’s ES Energies Strasbourg unit made quantity errors on transactions on Tuesday and Wednesday amounting to 2.03 gigawatts and 5.75 gigawatts of electricity, the company said in a statement.