Regulation
The blame game
In the first of two articles on the effect of speculative traders on energy prices, Tom Matthews of Kinder Morgan argues that speculators do not cause price volatility and outlines research he has done on the subject
Market focus - Sky-high cost of clean air
US emissions allowance prices for sulphur dioxide (SO2) rose nearly 200% in 2005 and 300% during 2004. Sandy Fielden of Logical Information Machines examines the SO2 emissions allowance market and discovers which market drivers are forcing prices ever…
Rights and resources
Doing business in a country with a poor human rights record can be costly, thanks to the changing landscape of corporate liability and human rights. Maria Kielmas reports
Editor's letter
Surely in this post-Enron, Sarbanes-Oxley world it was now safe to go back in the water?
Regulating Germany
Matthias Kurth was appointed Germany's first energy regulator in June of this year. The decisions he makes as the new Federal Network Agency president will be felt throughout European energy markets. He speaks to Oliver Holtaway
A glimpse of freedom
Merger and acquisition activity in the US utility sector, previously kept in check by the Public Utility Holding Company Act, could be set to swell with the repeal of this act in February, some analysts believe. By Oliver Holtaway
Exceptions to the rule
Norwegian independent power portfolio managers are concerned that an impending EU directive may split the country’s power market and put them at a disadvantage. Oliver Holtaway reports from Oslo
● Accounting standards ● Nordic energy
This month’s Energy Risk debate covers the topical issues of accounting standards, followed by an expert question and answer panel on the influential Nordic energy region
Regulation tops risk managers’ concerns
Regulatory risk is seen as the most significant threat to business and a greater source of concern than country risk, market and credit risk, terrorism and natural disasters, a recent survey reveals.
Making a connection
Addressing both sophisticated multi-asset trading and physical asset optimisation – while complying with stringent new regulation – are challenges few software firms claim to have the entire solution to. Oliver Holtaway reports
European Commission to examine energy-sector competition
The European Commission (EC) today launched an inquiry into competition in natural gas and electricity markets, in response to concerns from consumers and new market entrants about the development of wholesale markets and limited consumer choice.
Sharon Brown-Hruska
The CFTC’s Sharon Brown-Hruska believes in minimal market interference, even, as she tells Joe Marsh , when it comes to hedge funds
Standard challenges
Early signs suggest European energy companies may, like their US counterparts,have problems complying with a new derivatives-accounting standard. But theydo have newguidelines to help interpret the rules. By Joe Marsh
Broken promises
Asian countries are now a power in the world’s energy markets, but governmentinterference in tariff structures and shaky sovereign guarantees mean regulatoryrisks forinvestors remain. By Maria Kielmas
Both sides of the fence
Ernst Eberlein and Gerhard Stahl analyse price series of 25 energy spotrates simultaneously using Lévy models. This model class allows thecapture of stochastic behaviour of these financial instruments.Theimplications of this analysis will form the…
Exceptions to the rule
With commodity markets set to fall within the scope of more EU regulation, trade associations are concerned that this extra burden on market participants could stifle trade. By Stella Farrington