Power
OTC share of EU gas derivatives surges to 25%
Energy price cap may supercharge flight from ETDs and affect CCPs’ ability to manage risks, Esma warns
Interpolating commodity futures prices with Kriging
A futures price’s term structure is built to account for trends and seasonality effects
EU plan to suspend power derivatives gets icy response
Proposal from energy ministers to ease collateral burdens blasted as “silly” and “terrible idea”
Esma to meet with clearing industry over EU energy crisis
Widening eligible collateral on table; ECB intervention would need government indemnities
Banks shock commodities by 1,000% in stress-test rethink
Energy price spikes force clearing firms to consider extreme or even ‘implausible’ scenarios
LGIM’s climate modelling shows ‘point of no return’ in 2025
Cost of limiting global warming to 1.5°C will become too great for economy within 36 months
How to tackle rising risk in European energy portfolios
Rising geopolitical risk in Europe is changing the energy landscape, adding new constraints and additional risks to gas and power portfolios. While Russia’s invasion of Ukraine is shifting supply-and-demand dynamics across Europe, regulatory shifts are…
Curbs on hedging threaten to short-circuit Bulb sale
Insolvent energy supplier is barred from holding long-dated forwards – which could deter potential buyers
Energy Risk Commodity Rankings: banks and brokers battle extreme volatility
Winners of the 2022 Commodity Rankings needed new approaches to manage extreme price swings
Energy market split over emergency government support
German move to backstop margins with liquidity facility welcomed by energy producers – but others say it’s unnecessary
Interview with Sarah Friar, chief executive at Nextdoor: part 2 of 2
Sarah Friar, chief executive at Nextdoor, says enterprise risk assessments are vital because, when done well, they are great mental models and helpful for playing out scenarios
UK Treasury urged to allow failed energy firms to hedge
Bulb can’t buy wholesale electricity and gas more than two weeks in advance, leaving it exposed to price hikes
SMFG reports highest power sector emissions intensity
Across all systemic banks, only eight dealers disclose their GHG emissions for this field
Losing their hedge: why so many UK energy suppliers went bust
Hedging strategies were powerless to protect firms from runaway energy price rises
Energy Risk Commodity Rankings: firms provide a lifeline in choppy waters
Winners of the 2021 Energy Risk Commodity Rankings supported clients in unprecedented times to be voted counterparties of choice
Nasdaq whacked with $36 million fine over Aas default
Swedish regulator’s fine poses serious questions over default management and margining, while providing few answers
Performance of value-at-risk averaging in the Nordic power futures market
The authors investigate the performance of various value-at-risk (VaR) models in the context of the highly volatile Nordic power futures market, examining whether simple averages of models provide better results than the individual models themselves.
Podcast: the difficulties of decarbonisation
What are energy firms doing to measure and mitigate transition risk?
Derivatives house of the year: Macquarie Group
Energy Risk Awards 2020: Firm’s wide commodities presence, physical and financial risk expertise and financing capabilities result in standout deals
Managing AML and fraud – A risky business requires a risk-based approach
This webinar explores how to meet AML and fraud management obligations while empowering core businesses to remain competitive and innovative
Energy Risk Awards 2020: The winners
Key wins for BP, Engie and Uniper while Macquarie takes the derivatives house of the year award
Carbon tax spike could spur global recession – S&P
Higher carbon prices would trigger widespread industry defaults, says agency research unit
Introducing stylized facts on electricity futures through a market impact model
This paper provides an alternative way to introduce the stylized facts on electricity futures.