Energy trading
Flying high
Rankings 2004
LNG drive gears up
Rankings 2004
The future of freight
The Baltic Exchange has recently shelved plans to offer freight derivatives,yet rising freight rates should aid the development of the embryonic forwardfreight agreement market. By Paul Lyon
Protection treaty
Matthew Saunders , of law firm DLA, introduces the bilateral investment treaty which, though often overlooked, can be an effective method of affording legal protection for energy investments and minimising energy project risk
In pursuit of the eurobarrel
The markets say they do not want oil prices in euros. But denominating internationalcrude prices in euros is a political ambition the European Union seems determinedto pursue – starting with Russia. MariaKielmas reports
Capital calculations
The latest Committee of Chief Risk Officers white paper offers capital adequacy guidelines for energy merchants. But why should energy firms perform these calculations? Glyn Holton asks whether the CCRO has missed the point
Contract killing
New frontiers
Operational and market risks of a regulated power utility
Victor Dvortsov and Ken Dragoon present an analytical method for including market and operational risks when estimating utility portfolio value-at-risk.
Breaking down the model
Brett Humphreys and Andy Dunn outline a method to help energy companies minimise potential model risk and thereby avoid costly errors in valuing deals.
Gas supply problems persist
Natural Gas
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
A capital adequacy primer
A summary of the Committee of Chief Risk Officers' (CCRO) emerging guidelines on capital adequacy, by Cinergy's Antonio Ligeralde, Kenneth Robinson of El Paso Merchant Energy and CCRO head Michael Smith.
Austrian rail firm on the risk management fast track
Austria’s largest electricity consumer, rail firm Österreichische Bundesbahnen, talks to EPRM about its energy risk management strategy. And, as Paul Lyon discovers, other end-users could learn from the innovative company
The search for spot
Strong demand for US liquefied natural gas is accelerating the development of an active global spot market and pricing benchmarks, as Catherine Lacoursière discovers
US coal trading picks up steam
While the coal market awaits pricing indexes to reinvigorate trading, emissions trading is getting a boost from increased coal burning. Catherine Lacoursière reports
Buying your way out of trouble
UK high-street retailer Littlewoods has saved £1.5 million through an energy risk management and procurement programme. Utilyx’s Nigel Cornwall looks at how other companies can reduce energy costs through purchase programmes
Seeking an end to manipulation
Renewed allegations of manipulation of natural gas pipeline capacity in the US have been partly blamed on regulatory complacency. How can regulators put an end to the problems dogging the gas markets? Catherine Lacoursière reports
Speculate away
A new report argues that speculative trading in the crude oil markets contributes far less to volatility than its critics suggest. Kevin Foster looks at the arguments
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
Models of good behaviour
The development of new models that describe the real dynamics of energy prices have to take into account the behavioural aspects of market players. The problem is how to quantify these aspects. Maria Kielmas reports
Pumping up prices
Gasoline prices in the US hit all-time highs in March, and the price is expected to remain high throughout the summer. Kevin Foster looks at the contributing factors
The return of Russian crude
Russia has reclaimed its position as the world’s biggest oil producer for the first time in a decade – but uncertainty is still preventing some foreign oil firms from making the investments the country needs to fulfil its potential. Kevin Foster reports