They’re closer to energy traders than energy companies, is my understanding (which may be wrong of course) and the smaller ones don’t have the resources required to hedge their positions- so when costs exceed the supply price the smaller ones go boom.
They’re closer to energy traders than energy companies, is my understanding (which may be wrong of course) and the smaller ones don’t have the resources required to hedge their positions- so when costs exceed the supply price the smaller ones go boom.