Risk management
Risk manager of the year – retail
Winner: Reliant Energy Solutions
Risk manager of the year – consumer
Winner: Bayer
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
Beat the system
The complexity of the energy markets has given rise to a host of risks that traditional trading systems often do not address. Paul McLean-Thorne gives his views on a well-designed energy trading and risk management system
Risk at the margin
Competition and deregulation has led to new ways of running utilities, and the commodity-trading model has emerged as the leading approach. But the challenge lies in how it is applied, argues Lawrence Haar
Spread Modelling for Energy Risk
Jean-Noel Dordain and Stephane Mayrague, members of the Sophis research team, present the dramatic advantages of a spread risk analysis for energy trading.
’Tis the season...
Abstract: Aurelian Tröndle presents a general framework for modelling prices of storable and non-storableenergy assets, which sheds light on different market fundamentals, and showshow energy market volatility is seasonal and anything but stable. The…
The future of freight
The Baltic Exchange has recently shelved plans to offer freight derivatives,yet rising freight rates should aid the development of the embryonic forwardfreight agreement market. By Paul Lyon
Brokers look toshow their worth
Brokers are increasingly looking to provide energy price data. The choice may be wider, but are energy firms getting the credible data and analysis they need for intelligent price forecasts? Joe Marsh reports
Jean-Marc Bonnefous
Jean-Marc Bonnefous, BNP Paribas’ global head of commodity derivatives, says his unique division will keep it ahead of the game. By Paul Lyon
Capital calculations
The latest Committee of Chief Risk Officers white paper offers capital adequacy guidelines for energy merchants. But why should energy firms perform these calculations? Glyn Holton asks whether the CCRO has missed the point
Dissecting risk
Abstract: Naveen Andrews and MarkThomas explore a method of calculating VAR in measuring component market risk under conditions of imperfect correlation across positions within a portfolio. It is easily adapted to existing Monte Carlo systems,…
Bouncing back
Business may be sluggish in the energy sector, but energy risk technology companiesare adapting to the tough market environment and proving their resilience, evenif that means partnering with rivals. By Paul Lyon
Back to basics
Correlation and volatility methods are accepted ways of measuring risk. But areview of the underlying assumptions underlying the statistics used for risk management can identify areas where errors can occur, says Brett Humphreys
The future of ETRM
As generation, trading and retailing companies come out from under the dark cloud to prepare for what looks to be a brighter future, one issue has become critical – the need to upgrade outdated ETRM systems with 21st century architecture, portfolio…