The Infona portal uses cookies, i.e. strings of text saved by a browser on the user's device. The portal can access those files and use them to remember the user's data, such as their chosen settings (screen view, interface language, etc.), or their login data. By using the Infona portal the user accepts automatic saving and using this information for portal operation purposes. More information on the subject can be found in the Privacy Policy and Terms of Service. By closing this window the user confirms that they have read the information on cookie usage, and they accept the privacy policy and the way cookies are used by the portal. You can change the cookie settings in your browser.
Large blackouts are economically costly and socially disruptive, but in some cases can also be beneficial to investors in publicly-traded utilities. Large blackouts, particularly those that damage capital equipment, can increase future cash flows of utilities if replacement capital expenditures are permitted to be included in the rate base. The semi-strong version of stock-market efficiency suggests...