News
European gas trading has bright future, panel says
Natural gas is staging a comeback in Europe after being squeezed out by coal during the past few years, according to a panel of market participants who spoke at Energy Risk Summit Europe
EU regulation and renewables seen as big energy risks
Senior risk managers chart biggest concerns for energy companies during panel at Energy Risk Summit Europe, but not everybody agrees the lists are useful
Panel bemoans impact of EU regulation on energy market
Worries about the impact of EU financial rules, such as Emir and Mifid II, are highlighted among a panel of compliance experts at Energy Risk Summit Europe
Mifid II doomsday awaits energy firms, conference told
Speaking at Energy Risk Summit Europe, compliance officer at Shell International Trading & Shipping warns of “serious threat” posed to energy traders by Mifid II
Energy traders must adapt or die, warns E.on risk head
Challenges such as regulation, declining volatility and renewables are making life tough for energy traders, says E.on Global Commodities CRO, but the industry will find solutions
CFTC gripped by fiscal year-end hiring frenzy
Budget uncertainties are leading the CFTC to make a last-minute hiring push before a September 30 deadline, in what has become an annual tradition for the agency
Energy companies divided on approach to Emir clearing
European utilities are concerned about breaching Emir thresholds requiring firms to clear their OTC derivatives trades, while oil majors are resigned to the idea
Citi hires global sales head for ags and softs
Eric Sananes, the former head of flow origination at EDF Trading, has joined Citi as London-based global head of agriculture and soft commodities sales
Mexico to rein in CFE and Pemex market power
Regulators will not allow state-owned electricity and oil and gas companies to abuse their dominance and stifle private competition, says CRE commissioner
US energy firms cheer regulators’ shift on margin rule
In an about-face, the Fed and other bank regulators exempt non-financial end-users from requirement to post margin on non-centrally cleared swaps
Marex Spectron global head of energy departs
Marex Spectron picks Jeremy Elliott and Hunter Baldwin to replace Gordon Bennett, its global head of energy, who has left the broker after 12 years
Energy firms face Emir confirmation challenge
A looming deadline for confirming OTC derivatives is expected to cause problems for smaller energy firms, which may find themselves blocked from trading with bigger counterparties
Energy firms eye opportunities in Mexican power
International energy companies hope to prosper from Mexico's programme of energy reforms, which includes the creation of a wholesale spot market in electricity
European gas trading boosted by uncertain outlook
Volatility in European natural gas is soaring due to upheaval in Ukraine and an unusually high amount of gas in storage, prompting a rise in hedging and financial trading
CFTC quietly amassing data on natural gas swaps
Numerous energy companies have received special calls from the CFTC in the past year, say lawyers, but the reasons for the agency's interest remain murky
Power companies slam New England reliability plan
Electricity companies are criticising "unreasonable" and "discriminatory" measures designed to keep New England's lights on during the coming winter, arguing in favour of a longer-term fix
German renewables shift welcomed by energy firms
A push to increase the number of German renewable energy producers that directly market their output has received a positive reception from energy trading firms, which are likely to benefit from the changes
Tougher UK Remit sanctions to be felt across EU
Proposed UK criminal penalties for manipulation and insider trading under Remit would have "very broad" effect across European energy market, according to lawyers
Energy firms fight for right to hedge at portfolio level
CFTC position limits rule could limit the ability of energy firms to hedge, unless they aggregate commodity derivatives positions held across disparate business units
US utilities invest in shale gas wells as long-term hedges
Florida Power & Light becomes latest US utility to pursue acquisition of natural gas production assets as risk management strategy
Ex-Deutsche commodity index salesman joins BNP Paribas
Matthew O’Connor, a New York-based managing director at Deutsche Bank with responsibility for commodity index sales, has taken a new job as head of investor sales for the Americas at BNP Paribas
Commodity desks breathe sigh of relief over Volcker
US banks say their initial concerns over the Volcker rule of Dodd-Frank have turned to relief, as the rule's drafting allows them to continue making markets in commodity derivatives
Bespoke OTC reporting a struggle for energy firms
European energy trading firms say they are finding compliance with Emir trade reporting rules onerous and heavily reliant on manual intervention, particularly when it comes to non-standard trades
EDF Trading environmental products head leaves firm
Fabio Nehme confirms he is leaving EDF Trading in Houston after six years to set up his own London-based business in environmental commodities