Book contributions by Risk Staff
Portfolio Construction and Management
Edited by Brice Benaben and Julien Jarmoszko
Articles by Risk Staff
Watching the home front
The growing international controversy about Iran’s nuclear ambitions as well as internal unrest may stall foreign investment in the country’s energy sector in a way that US sanctions have failed to do. Maria Kielmas reports
Taiwan’s growing risk appetite
Relying on imports for most of its energy requirements and constrained by the government’s view that risk management is gambling, how can Taiwan tackle the challenge of price risk in its growing energy sector? By David Hayes
Water faces rising costs
UK water utilities are expecting rising electricity and environmental costs as they and their regulator prepare for the next five-year price review. Maria Kielmas reports
A hard Act to follow
The final piece of the Sarbanes-Oxley Act – section 404 – falls into place this month, requiring internal control reports. While the Act may go some way to restoring investor confidence, it is costing energy companies dear, finds Kevin Foster
System-ready for Sarbanes-Oxley
Energy companies are not alone in having to review their operations to comply with the Sarbanes-Oxley Act. Energy software suppliers, too, are looking at their systems, although most are confident they are already well prepared, finds Clive Davidson
Deregulation versus re-regulation
While the US authorities are still ironing kinks out of a major electricity market redesign and looking to repeal the utility industry’s most influential Act, US regulators and self regulators are moving to fill the vacuum. Catherine Lacoursière reports
Utilities cut spending on IT
Energy utilities have cut spending on IT by 13% so far this year, according to the initial results of a study by Connecticut-based consultancy the Meta Group.
Royal Bank of Canada reaches agreement over Enron case
The Royal Bank of Canada (RBC) has reached a settlement agreement with Enron, the Enron creditors’ committee and Dutch firm Rabobank, resolving aspects of a share transaction known as ‘Cerberus’. The transaction also involved the use of total return…
A true test for value-at-risk
The three classic approaches for measuring portfolio value-at-risk do not compare like with like, argues Richard Sage. Here he presents a test portfolio to highlight the differences between calculation methods
WRMA to campaign on data and against normalisation
Lynda Clemmons, president of the US Weather Risk Management Association (WRMA), is to sit on an American Meteorological Society (AMS) panel to address issues in the weather industry involving weather data and public-private partnerships.
LNG could rescue the US
Sandy Fielden of energy market specialist Logical Information Machines looks at a potential solution to the US natural gas supply crisis: liquefied natural gas
Tennessee’s valley of debt
Tennessee Valley Authority’s power plant financing arrangements should be measured as debt, says the US General Accounting Office, thereby putting further pressure on its politically sensitive and federally restricted debt levels. Paul Lyon reports
All talk, no action
Cancelled power plant auctions and the complexities of asset debt structures are bad news for the boutiques set up to acquire power assets. The boutiques talk a good business plan – but execution may prove troublesome, as Paul Lyon discovers
Sick and tired of the three per cents
High yield
Bill Gross
Pimco
Tied to the market
Indices
King’s new throne
People news
The market mechanic
Profile
The crystal ball
Credit strategy
Protecting your own
Alstom
On the Fritz
Columnist
Avoiding the potholes
Whole-business securitisations
On the back foot
Market view