Goldman-Backed Energy Trader to Raise Debt After 96% Profit Drop

The office of InCommodities A/S in Aarhus, Denmark, on Monday, Jan. 15, 2024. Only five years ago, a small group of largely anonymous trading firms based in Aarhus and Aalborg made a combined net income of about $100 million per year, but in 2022 the same companies produced about $5 billion in combined profits, according to a Bloomberg Opinion review of their annual accounts, making them the "Silicon Valley" of European energy trading.