Power
Liquidity forces energy firms to get creative with risk management
In some corners of the over-the-counter energy market, liquidity has become increasingly thin during the past few years. As a result, firms need to think more creatively about how they handle liquidity, say risk managers. Stella Farrington reports
Energy Risk Europe: Ofgem outlines UK power market changes
Ofgem senior economist makes case for power market reform and details proposals to alter balancing arrangements
Energy Risk Europe: Acer bemoans 'unnecessary' market coupling delays
Acer director expresses frustration at power market coupling delays caused by exchanges and other stakeholders
Energy Risk Europe: Good times over for Europe's traders, says RWE's Krebber
Strain caused by regulation and renewables means European energy traders must adapt to survive, says RWE Supply & Trading CFO
An anatomy of financial and energy market bubbles
Despite differences in the detail, the mechanics that unfold during episodes of financial and energy market hype are the same. To avoid repeating the errors of the past, companies and individuals should bear them in mind, argues Vincent Kaminski
Cutting edge: Electricity contract risk with portfolio effects
The incremental risk of including electricity contracts in a portfolio is computed by George Levy using a Monte Carlo regime-switching approach. The volume and price processes are modelled using empirical distributions and correlation is captured via a…
Danske Commodities chief reflects on altered energy landscape
While Europe’s traditional energy firms have been suffering, Danske Commodities saw a 75% leap in profits for 2012. Chief executive Torben Nordal Clausen speaks to Gillian Carr
European power traders look to different sources of data
With renewables accounting for a significant and growing proportion of Europe's electricity production, energy traders are increasingly turning to different sources of data to help them gauge the impact. Gillian Carr reports
Power market design leads traders to take advantage
The design of modern power pools is highly complex, creating plenty of opportunities for clever traders to profit by circumventing the rules, writes Vincent Kaminski
Uncertainty rules in Australian electricity derivatives market
Australia's electricity derivatives market had been picking up since the global financial crisis, but volumes have declined in recent years. Firms blame the slowdown on a combination of slim trading opportunities and uncertainty over plans to curb…
US power hedging suffers from low prices
Low power prices have dented the need for electricity producers and consumers to hedge with derivatives, while regulatory reform is also making life difficult for market-makers. But market participants are optimistic the trend could be reversed. Pauline…
US power traders expect rebound in hedging activity
Power hedging activity could increase with rising prices and greater regional variation across the US
Turning points: Torsten Amelung, Statkraft
As the proportion of power generated from renewables goes up, the business model of traditional utilities is increasingly under threat, says Torsten Amelung, Statkraft’s senior vice-president of trading, origination and business development. He speaks to…
Renewables push proves challenging for Germany
A shortening horizon
South Korean power outage fears loom high on agenda
Planning a new Korea
NWE power market coupling struck by delays
A tough nut to crack
Hunter ruling may slow Ferc’s anti-manipulation push
A court decides the US Federal Energy Regulatory Commission overstepped its authority in trying to prosecute manipulation in natural gas futures - a ruling with implications for other cases
'Uneconomic trading' at issue in Barclays power dispute
Barclays seeks to defend itself against power market manipulation allegations by contesting regulator’s pursuit of uneconomic trading
Firms shy away from public utilities despite CFTC relief
No-action letter not enough to convince counterparties to trade with public utilities
Influx into Italian electricity
European power: Italian influx
Energy firms tune in to weather forecasts
Blowing in the wind?