Disney, Big Tech Take Up Energy Trading As Power Costs Soar

Meta Platforms (NASDAQ:META) recently filed an application with U.S. federal regulators (via a subsidiary called Atem Energy ) for authorization to become a power marketer and enter the wholesale electricity trading business. By becoming a direct participant in the market, Meta can sign long-term "take-or-pay" contracts with new power plant developers, including wind, solar, and natural gas. Entering the trading business gives Meta the flexibility to manage an unpredictable supply. If a data center consumes ...