A brutal storm ripped through southwestern Minnesota in April and snapped 2,000 power poles. Worthington Public Utilities kept the lights on with a seat-of-the-pants microgrid.
But for the first time in history, the decision may not be up to the regulators, politicians, or even the utilities. Instead, bank examiners may decide the survival of the merchant sector this summer. Perhaps that is as it should be, given how blindly the banks loaned out billions to the merchants.
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