A Goldman Sachs-backed electricity firm is making a play to reach more Americans’ homes
Publishing timestamp: 2024-02-02 10:07:45
Summary
Goldman Sachs' investment in Rhythm Energy, a Texas energy retailer, allows the bank to expand its reach into American homes. However, the move raises concerns about consumer abuse in the energy industry. Rhythm Energy positions itself as an honest company, but data shows that its Texas customers paid higher rates compared to regulated providers. Critics argue that Goldman Sachs' involvement in retail energy contracts and energy generation could lead to abuses, while the bank maintains strict information barriers between its public and private businesses.
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Keywords: energy, investment strategy, goldman sachs group inc, david solomon, banks, business news, breaking news: investing, breakingnewsglobal, breaking news: markets,