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Infrastructure

Utilities shift towards longer-term hedging

US and Canadian regulated utilities are increasingly looking to put on longer-term hedges, even more than three years out in some cases. Such was one of the findings of an informal survey of the audience at a utility risk-management conference in Chicago…

More IT for MiFID

MiFID's success hinges on IT prospects, write Choongo Moonga and Phil Craig . But many in the industry are balking at the costs involved

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

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

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

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

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

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…

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

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