Energy Risk - Volume2/No13

Counting on coal

NRG Energy's move to buy Texas Genco seems a wise one for a company with strong dark-spread exposure, but it has its risks, despite the target company being backed by an active hedging programme. Joe Marsh reports

Papering over the cracks

High energy prices are forcing pulp-and-paper makers to take action against falling profits, yet most companies are still shying away from energy price hedging. But that situation may be slowly changing. Joe Marsh reports

Top tips and dirty tricks

You don't have to be a genius to work as a quant - though it helps - but you do have to know a few tricks of the trade. So where should aspiring energy quants start? Neil Palmer offers some suggestions

A matter of principal

Developing term structure models can be tricky, as unknown factors and non-observable variables can affect futures prices. But principal components analysis is useful in tackling these problems. Here, Delphine Lautier uses PCA to pin down price movements…

Off to a flying start

Aviation is one of the fastest growing sectors in terms of carbon emissions, but a move by the European Commission to include airlines in the EU's Emissions Trading Scheme has alarmed some in the industry

Credit in the limelight

Today's business climate is pushing credit risk higher up the risk management agenda, as our Energy Credit Risk conference in New York showed. Stella Farrington reviews the event

Playing power games

Thanks to increasing consolidation, it seems the country-specific energy exchange will soon be a thing of the past in Europe. But is this level of competition premature?

Top of the agenda

Energy Risk's inaugural risk management survey reveals what you consider the biggest challenges, greatest fears and chief problems facing risk managers today, and what changes you would like to see in the future

Congestion charges

As the US' premier regional transmission organisation, PJM Interconnection's pricing and transmission congestion models must be foolproof. Sandy Fielden describes how they work and the associated risk management mechanisms available to participants

The right of refusal

Traders have learned that giving away free financial options can be costly. However, free options can take many forms. Brett Humphreys and Tamara Weinert discuss the value of a risk management option that can easily be given away

Regulating Germany

Matthias Kurth was appointed Germany's first energy regulator in June of this year. The decisions he makes as the new Federal Network Agency president will be felt throughout European energy markets. He speaks to Oliver Holtaway

Francis Van Der Velde

Francis Van Der Velde of Brussels-based Fuel Purchasing & Consulting is more aware than most of the pain airlines are suffering

Carbon complexities

The EU ETS adds price complexity to European energy markets and the trend towards pan-European markets means far more complex models will be needed to model carbon risk, writes Bjorn Brochmann

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