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by toast0
37 days ago
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Commodities are traded on type, quantity, and place. Oil of a specific grade at a specific port. Pork bellies (no longer traded) of a specific grade in Chicago. Etc. If you want the commodities elsewhere, you have to provide for transportation. Same for electricity. Grids (or grid sections) where supply outpaces local demand and transmission to remote grids can hit negative spot prices even when neighboring grids haven't. |
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