Articles by Risk Staff
Calpine scraps $2.3 billion loan and junk bond sale
San Jose-based Calpine last month cancelled a $2.3 billion secured term loan and secured notes offering. Its wholly owned subsidiary, Calpine Generating (CalGen) Company (formerly Calpine Construction Finance Company II ) cancelled its offerings due to…
Bank of America settles for $17.85m in weather derivatives lawsuit
For four years, Bank of America has been seeking recompense for a weather derivatives deal written by the now-defunct CWWIA. Finally, the bank has settled its case. By Paul Lyon
Nybot in Nymex sights, but IPE rumours are put on ice
Nymex is rumoured to be interested in acquiring Ice. Here, in an exclusive interviewwith Energy Risk, Nymex president Bo Collins suggests the exchange may also besetting its sights elsewhere. By James Ockenden
House of the year – crude oil
Winner: Société Générale
Energy finance house of the year
Winner: ABN Amro
House of the year – natural gas, US
Winner: Bank of America
Software house of the year
Winner: KWI
House of the year – oil products
Winner: Koch Supply & Trading
Risk manager of the year – consumer
Winner: Bayer
Risk manager of the year – retail
Winner: Reliant Energy Solutions
Broker of the year
Winner: Spectron
Energy risk manager of the year
Winner: BP
House of the year – electricity
Winner: EDF Trading
House of the year – weather & emissions
Winner: Evolution Markets
House of the year – natural gas, Europe
Winner: Barclays Capital
Innovation of the year & Exchange of the year
Winner: Nymex
Storms ahead
Weather traders in Europe are celebrating the issuance of an innovative catastrophe bond by EDF. Meanwhile, US traders are concerned over attempts to regulate weather risk contracts as insurance, rather than derivatives. By Paul Lyon
Trading techniques
Abstract: A majority of merchant power plants built during the last few years in the US are combined-cycle units fired by natural gas. This article discusses asset-backed trading strategies for a merchant single-block power plant, showing how unit…
Storage strategies
Abstract: Salt-dome storage facilities are a flexible way to take advantage of arbitrage opportunities in the natural gas market. Kislay Sinha and colleagues at Arizona Public Service discuss the valuation of a storage asset, examine ways of capturing…
Upwardly mobile
As energy prices creep upward, many factors are driving the markets. The upward trend and increased volatility is continuing as the markets evolve and mature. But are these markets operating efficiently and accurately, or are they being manipulated, as…
Taking the slow road
Recent developments suggest that clearing is likely to gain widespread acceptance in the European energy market. Market participants feel it is a question of how and when – not if – robust, liquid solutions will emerge. By Joe Marsh