Power Trader Whose Error Caused Crash Faces $11 Million Fine

A Swedish power trader behind a major collapse in Finland’s electricity market in 2023 is facing a €9.25 million ($11 million) fine.

A botched bid by Kinect Energy Sweden AB sent shockwaves through the market about two and a half years ago, halting intraday trading across northern Europe and driving prices deep below zero. Some Finns even enjoyed a full day of free electricity.