Editor's letter
Welcome to the August issue of Energy Risk. I'm holding the fort this month while Stella honeymoons in the Cook Islands – a much better place to spend the summer than here in the UK! At the time of press, umbrellas were still very much in evidence all over London and extreme rainfall has put large parts of England underwater, causing billions of pounds of flood damage. It is a costly reminder of the economic risk posed by the one commodity that affects almost every business: the weather. On page 33, David Watkins interviews David Riker, chief executive of Storm Exchange, an electronic weather exchange that aims to help end-users mitigate their weather risk.
Our cover story this month is our end-users' forum. Increased liberalisation of energy markets, coupled with rising energy prices, are making price and volume risk management a greater challenge than ever for end-users in all types of industries. In this special report, we present interviews and case studies from energy risk managers at German airline Lufthansa, Scandinavian paper maker Stora Enso, Australian cement firm Adelaide Brighton Cement, and Anglo-Swedish pharmaceutical company AstraZeneca, delving into the latest challenges faced by end-users.
Also, we are pleased to present a special report on the Asian energy market, which includes a country focus on South Korea, a Q&A with N Yuvaraj Dinesh Babu, director of carbon trading and head of climate change at Singapore-based ACX-Change, an update on alternative fuel policy implementation in China and a report on international oil companies' efforts to crack open the Chinese wholesale oil market.
More on Risk management
Energy supply chain challenges prompt risk management rethink
As supply chain challenges grow, energy risk managers are taking a more dynamic and holistic approach to managing and anticipating supply chain risk, say Sapna Amlani and Stephen Golliker at Moody’s
Energy Risk Europe Leaders’ Network: the challenge of unpredictability
The European Leaders’ Network, sponsored by Engie, convened in London on June 29, 2026, and focused on the impact of geopolitical tension, price volatility and policy uncertainty on European energy markets.
Break down silos to manage geopolitics – risk managers
Risk Live: Experts says scenario planning helps identify who has information needed in a crisis
Treat AI models as would-be hackers, says quant
Risk Live: Models capable of “strategic deception” require different risk management, says former Risk.net quant of the year
AI autonomy may redefine risk management roles
Risk Live: Machine validation of autonomous processes may emerge “relatively soon”, EIF risk chief says
Managing extreme volatility in commodities
Persistent volatility requires a rethink of technology architecture, says Murex head of market risk practice
Commodity volatility prompts a rethink of risk frameworks
Commodity market volatility is exposing the cracks in firms’ risk management frameworks and policies
Asian banks close out energy clients as Iran war bites
Firms with short jet fuel positions faced losses up to $100 million as initial margin soared 566%
