Energy Risk/News
Gold and silver trading hits record levels in 2008
Trading in gold and silver reached record levels in 2008, spurred on by the perception of precious metals as a "safe haven" from the credit crisis, according to International Financial Services London (IFSL) Bullion Markets 2009 report.
Obama plans alternative energy boost
US President-elect Barack Obama has pledged to double alternative energy production over the next three years and construct a new smart grid as part of an economic stimulus plan.
Russia gas dispute hits European markets
Two days of Ukrainian natural gas transit flow cuts, combined with cold weather, have sparked a rise in both short and medium term European natural gas prices.
CME launches dual listing of oil and gas options
CME Group has announced the dual listing of financially settled crude oil, Brent crude oil and natural gas calendar spread options on the New York trading floor and ClearPort Clearing.
Russian gas exports to Europe via Ukraine halted
Exports of Russian natural gas to Europe through Ukraine have now been completely halted, according to statements from Ukraine's Naftogaz and Russia's Gazprom.
Russian gas exports to Europe “seven times less” after pipeline closures
Gazprom Export director general Alexander Medvedev stated today that an overnight shutdown of three transit pipelines by Ukraine had caused a seven-fold drop in Russian natural gas exports reaching Europe.
NCDEX launches gold and silver contracts
India's second largest commodity exchange, the National Commodity and Derivatives Exchange (NCDEX), added gold and silver futures contracts to its portfolio at the end of December 2008. According to the exchange, the contracts were launched in response…
EDF meeting record French power demand
French utility EDF has brought "almost all" of its available generation capacity online to cope with record power demand highs driven by freezing temperatures, the company said today.
Shell Energy acquires assets of Enspire Energy
Shell Energy North America, a subsidiary of Shell, announced on December 26 that it has signed a purchase agreement to acquire the assets of Enspire Energy, a Virginia-based energy marketing company.
Po Valley Energy secures sales agreement for Italian gas fields
Po Valley Energy, an Australian oil & gas company, has secured its first gas offtake sales agreement worth €38 million for production from its northern Italian gas fields.
Plastics futures to launch on DGCX
The Dubai Gold and Commodities Exchange (DGCX) is set to launch two plastics futures contracts on February 5. The region-specific contracts for the Middle East and Southeast Asia will be offered on linear low-density polyethylene (LLDPE) and…
EU officials move to settle Russia / Ukraine gas dispute
The European Union today moved to end the impasse in negotiations between Ukraine and Russia to resolve a natural gas supply dispute.
Merrill Lynch sues Reliant over credit facility
Merrill Lynch has filed a suit with the New York Supreme Court claiming Houston-based Reliant Energy defaulted when it cancelled a $300m credit agreement on 5 December 2008.
JP Morgan buys UBS’ Canadian energy and ags businesses
UBS is to sell its Canadian energy and global agricultural commodities businesses to JP Morgan, it has announced.
PXE to launch Hungarian electricity futures
Prague Energy Exchange (PXE) has announced that it will trade electricity futures based on power generated in Hungary from March 1, 2009.
Atel and EOS finalise merger
Swiss energy companies Atel and EOS have finalized details of a merger which will form a new company called Alpiq, based in Neuchâtel.
RGGI allowances reach $3.38 clearing price
Regional Greenhouse Gas Initiative (RGGI) allowances sold at a clearing price of $3.38 at the scheme's second pre-compliance auction on 17 December 2008.
RWE Innogy to build 960MW offshore wind farm
RWE plans to invest $2.8 billion in its first German offshore wind farm following the acquisition of project company ENOVA Energieanlagen, part of the ENOVA Group.
E.ON sells 2200MW of generation, enters Belgium
German utility E.ON has announced that it will sell over 2200 MW of generation capacity from German power stations to Electrabel and EnBW. The move comes after E.ON reached agreement with the European Commission to promote competition in Germany's power…
Growth in US oil consumption to slow significantly
The latest Annual Energy Outlook (AEO) from the Energy Information Administration (EIA) has forecast virtually no growth in 2009 US oil consumption for the first time in more than 20 years.
ICE Clear US to clear agricultural swaps
Intercontinental Exchange (ICE) has announced that ICE Clear US will clear sugar, coffee and cocoa swap contracts on ICE Futures US from late January 2009.
Electronic OTC commodities platform launched
Agora-X has launched an electronic communications network (ECN) for the negotiation of over-the-counter (OTC) transactions in commodity and derivative contracts.
Australia to start carbon trading in 2010
Australia's carbon trading scheme will be up and running by the middle of 2010, according to a statement made by the Australian government minister for climate change and water, Penny Wong, at the Poznan climate change negotiations last week.
Energy Risk: video interview
Energy Risk interviews European Energy Exchange CEO Hans-Bernd Menzel about the role of exchanges and clearing in Europe's energy markets.