### Comment:
My bad, you are right. He did not gamble on the weather markets. He gabled on the power markets, which got fucked over by the weather. Should have hedged with the ol' weather market

### REPLY:
Significant changes to long-term weather forecasts was one part of the equation yeah.. Rising prices for carbon emission certificates and gas prices added to the injury. It is interesting to note that his position would actually have been ITM now. Rumor has it he got squeezed on his position by Goldman by pissing off the wrong people.

### END.