I hedge therefore I am. Although this isn’t quite what French philosopher René Descartes said over 350 years ago, the statement occasionally rings true for corporates, for which hedging can sometimes mean the difference between survival and collapse. Consequently, it’s as important as ever for firms to think scrupulously about their exposure to energy price risks.
Putting together a hedging programme should involve careful thought, however. Successful hedging is often described as an art – and d