News
SocGen opens Calgary office, launches Canadian energy-services partnership
SG Corporate & Investment Banking (SG CIB) has partnered with Calgary-based energy-sector investment dealer FirstEnergy Capital Corp to jointly offer energy-financing services to the firms’ Canadian clients. SG CIB, part of French bank Société Générale,…
BarCap takes on Duke trading book
Barclays Capital will acquire and manage the bulk of Duke Energy North America’s (DENA) power and gas derivatives contracts, as part of parent Duke Energy Corp’s takeover of US utility Cinergy.
Weather fund Pyrenees closes, traders set up weather desk at Sempra
Weather hedge fund Pyrenees Capital Management closed at the end of October, a year after its launch, and two of the company’s three staff have moved to energy trader Sempra Commodities to set up a new weather desk.
Weather broker Parker leaves Fimat
Weather broker Dan Parker left brokerage Fimat in mid-October, having joined the company earlier this year. He says he is currently “on the sidelines”, considering his next move. Fimat declined to comment on Parker’s departure.
Nice price for Ice as exchange floats
Atlanta-based energy-trading platform IntercontinentalExchange (Ice) hit the ground running as a public company today, pricing at $26 per share – at the top of its $24-$26 target range.
Utilities shift towards longer-term hedging
US and Canadian regulated utilities are increasingly looking to put on longer-term hedges, even more than three years out in some cases. Such was one of the findings of an informal survey of the audience at a utility risk-management conference in Chicago…
TFS hires ex-weather broker to emissions desk
Tradition Financial Services (TFS) has hired Frederique Leverett, formerly a weather derivatives broker, for its London-based emissions desk.
CFO Burns to leave Mirant after Chapter 11
Michele Burns, who has overseen the recent Chapter 11 restructuring of US energy marketer Mirant, will leave the company once it has emerged from bankruptcy.
Powernext launches weather indexes
French electricity exchange Powernext – in partnership with Météo France (the French meteorological office) – today started offering national European temperature indexes.
National Bank of Canada reunites heavy hitters for energy push
National Bank of Canada (NBC) has expanded its energy derivatives team in Calgary with three new managing directors, with the aim of attracting more utility and energy-consumer customers.