RWE Group
EFET calls for exemptions from mandatory trade clearing
EFET calls for energy companies to be exempted from mandatory clearing as proposed by the European Commission
Deals of the Year: Essent Trading
Essent Trading in bio-coal deal with Stramproy Green
Trading positions
Energy Risk catches up with the latest appointments, promotions and departures in global commodity markets
RWE acquires Essent
The sale of the largest energy generator in the Netherlands, Essent, to German utility RWE was completed on September 30 in a €7.3 billion deal.
RWE Supply & Trading introduces continental gas financial swap contract
RWE Supply & Trading (RWEST), the trading arm of German power company RWE, has developed a financially settled gas swap contract targeted at non-physical players in the gas markets.
Delayed Zeebrugge gas documentation due in Q1 2004
The delayed standard agreements for trading natural gas instruments at the Zeebrugge gas hub are set for release in the first quarter of next year, said Peter Taff, director of European operations at UK utility Centrica and a member of the Zeebrugge…
Cross-border conundrums
Credit Risk
Carbon across Europe
Pan-European emissions trading is a step closer after agreement of an EU directive. Atle Christiansen and Kristian Tangen of Point Carbon look at the consequences
RWE deploys Trema to integrate treasury and asset management operations
German utility powerhouse RWE plans to extend its straight-through processing (STP) capabilities across its global subsidiaries using front, middle and back office integrated software from Swedish technology company Trema.
Rethinking European power
European energy firms are seeking to reposition their products and strategies in advance of European Union market deregulation. FAME Energy reports
European credit spreads remain tight
Spreads in the credit derivatives market continued to stay tight in Europe this week, based on expectations of a swift war in Iraq. London-based traders said overall liquidity has remained very thin since the official start of the conflict on Wednesday.
US retreat hits European trading
The retreat of US energy firms from energy trading has reportedly hit European volumes hard. But volumes aside, James Ockenden finds that the withdrawal may bring a fundamental change in the market. With additional reporting by Eurof Thomas
Pension deficit concern sparks demand for default protection
Traders saw a marked increase in volumes for credit protection, following a credit watch alert by rating agency Standard & Poor’s (S&P) on 12 major European corporations earlier today. S&P today warned that the companies, including Sainsbury’s, Rolls…
The bigger they come…
Germany
Exchanging blows
Conflict in the US and growth in Europe marked another turbulent year for energy exchanges. Kevin Foster casts an eye back over 2002
Coal on the rocks
Faced with liquidity problems, falling volumes and uncertainty over the accuracy of price data, coal trading has had many of the same difficulties as the natural gas and power sectors over the past year. How can it get back on its feet, asks Kevin Foster
Icap signs letter of intent to buy out APB
The world’s largest inter-dealer broker, Icap, has entered preliminary agreement to buy out privately owned Kentucky-based energy broker APB Energy. APB brokers gas, electricity, weather and coal derivatives on its online platform, True Quote, and…
OTC power market down by 60% as firms switch to regulated markets
There has been a sharp decline in the number of over-the-counter gas and power contracts since the demise of Houston-based energy trader Enron. Firms initiating power trades are increasingly conducting them via exchanges or through their clearing…
Credit Market Update: Buyers of protection pull back bids for European credits
Buyers of protection have pulled back their bids in the European credit default swap market this week, in response to positive market news and sentiment, coupled with greater stability on the equity markets.
Credit Markets Update: Xerox scandal spooks market
Reports of another major accounting blunder, this time at Xerox, have spooked the credit derivatives market and sent bids for credit protection on European names escalating again. Credit default swaps spreads on European credits had been tightening after…
RWE counts €11 million Enron cost but inherits staff
RWE, Germany’s second largest utility, believes it has the largest energy trading exposure in continental Europe to Enron Europe, the London-based subsidiary of the bankrupt energy trading firm. RWE Trading, the marketing and trading arm of the Essen…