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Spain’s national grid operator Redeia will plan for a record-high investments in its next strategic plan, chair Beatriz Corredor said on Monday as the blame game over who is responsible for the massive blackout in April continues. “The company's next strategic plan will involve the execution of an unprecedented volume of investments,” Reuters quoted Corredor as saying on Monday.  Redeia and its unit Red Electrica (REE) have been blamed for the power outage on April 28, when a blackout hit the electricity transmission systems of Spain and Portugal, and briefly parts of...

Everyone knows that markets hate uncertainty. Proof that this well-worn investment cliché has real substance can be seen in the way markets responded to a series of unforeseen events during the past decade. In 2016 there was the Brexit referendum, followed by the Covid-19 pandemic four years later, which led to protracted lockdowns. More recently, Russia invaded Ukraine, the Gaza-Israel conflict erupted and the US air force targeted Iran’s nuclear facilities with bunker-busting bombs, swiftly followed by US President Donald Trump’s upbeat social media announcement of a phased ceasefire between Israel...