Enron
Energy Risk at 30: Learning from the past
Energy Risk looks back at the seminal events and developments that have shaped today’s energy markets
Beware the pitfalls of right- and wrong-way risk
Credit exposure can be hazardous. Misinterpreting the risks posed can be ruinous
Disasters can give valuable lessons – Engie Global Markets CRO
Ken Robinson reflects on the ‘good, bad and ugly’ in energy risk management
How ‘Death Star’ and AIG sparked a new era in regulation
Ferc and the CFTC have overlearned the lessons of past crises, and energy traders are paying the price
Enron’s California schemes haunt regulators 15 years later
The failures of the first liberalised US power market still shape the Federal Energy Regulatory Commission’s anti-manipulation agenda. But has the pendulum swung too far towards enforcement?
Is the financialisation of commodities being reversed?
In the past 30 years, a process of financialisation has drastically reshaped the energy and commodity sector. Now, it appears the level of diminishing marginal returns has been reached and that process is shifting into reverse, says energy market veteran…
Video: Enron 'best' and 'lowest' career moment, says Kaminski
Vincent Kaminski opines on topics including the "best" and "lowest" moment of his career, financial regulation, oil fundamentals and European energy markets in a wide-ranging interview filmed at Energy Risk Summit USA
OTCGH’s Loya sees value in unorthodox business model
Javier Loya, the head of OTC Global Holdings, speaks about his firm’s unorthodox business model, the virtues of competition and the “go-go days” of energy trading
Commodity derivatives lead the way for OTC reform
Enron proved merits of bottom-up evolution, not change imposed from above
TrailStone's Silbert says the best is yet to come
TrailStone chief executive David Silbert never expected to embark on a career in commodities, but the company he founded in April 2013 is now the talk of the industry, writes Mark Pengelly
Looking back: El Niño boosts weather derivatives
Liquidity in the OTC weather derivatives market has suffered repeated false starts over the years, including one reported by Energy Risk in December 1997 with the onset of the El Niño weather pattern
The secrets of successful energy trading firms
The energy trading world has seen various companies come and go over the years, including utilities, commodity trading houses and banks. Some of those firms have proven to be phenomenally profitable, while others have not. What is the recipe for success?…
Energy trading: veterans reflect on highs and lows
Celebrating Energy Risk’s 20th year, Vitol’s Christopher Bake and Icap’s Paul Newman spoke to editor Mark Pengelly about the history of the energy market and current trends on stage at Energy Risk Summit Europe in October
Looking back: Lehman stirs credit and liquidity risk fears
Six years ago, the bankruptcy of investment bank Lehman Brothers sent shock waves through energy and commodity markets, as Energy Risk reported in October 2008
John Arnold looks back at 17 years of energy trading
In an exclusive interview, John Arnold talks to Alexander Osipovich about the extraordinary success of his former hedge fund, Centaurus Advisors, the difficulty of hiring good traders and why he walked away from energy trading after 17 years
Quants: how they shaped the modern energy market
Nowadays, quants are well established in energy trading. But the original introduction of quantitative techniques to the industry was far from straightforward, with a lot of hard work involved in adapting financial market models to the energy arena…
Dynegy founder Watson recalls dawn of deregulation
Dynegy founder Chuck Watson talks to Alexander Osipovich about the dawn of deregulation, the fall of Enron and what it takes to be a successful entrepreneur
Energy Risk marks 20 years of covering energy markets
Energy Risk was first published back in February 1994. Since then, its fortunes have risen and fallen with those of the wider energy risk management industry. Mark Pengelly reflects on the highs and lows of the first 20 years
Risk managers should learn from the mistakes of others
Doing enough detective work to discover whether companies are really rotten to the core may be challenging for busy risk managers. But bad eggs usually come with early warning signs, which are easier to spot, writes Vincent Kaminski
Looking back: Post-Enron nerves give way to longer-term fears
By January 2002 – just one month after US energy giant Enron filed for bankruptcy – the more lasting implications were becoming clear in the pages of Energy Risk
The 10 biggest energy risk management disasters of the past 20 years
The history of energy trading is littered with losses, bankruptcies and other misfortunes that now serve as cautionary tales. Alexander Osipovich looks back at the biggest energy risk management disasters of the past two decades and how they reshaped the…