News
Exelon drops NRG acquisition plan
Exelon Corporation has terminated its offer to acquire all of the outstanding shares of NRG Energy common stock at a fixed exchange ratio of 0.545 of a share of Exelon common stock for each share of NRG common stock.
Senate investigates speculation in wheat market
Several market participants appeared before a Senate subcommittee today to discuss the effect of excessive speculation on the price of wheat futures.
Carbon market VAT scrutiny shifts to Climex
The Dutch government has announced changes to the way carbon permits will be taxed, following concerns about a 49% leap in volumes on Dutch carbon exchange Climex in June. The growth came despite an overall drop in trading volumes across all European…
Plastics ring dealing to cease at the LME
The London Metal Exchange (LME) has announced proposals to cease open-outcry trading of its plastics futures contracts, with trade continuing on the LME's electronic and telephone markets.
Amerex launches consulting service
Amerex Brokers, an over-the-counter energy broker and wholly-owned subsidiary of GFI Group, has formed a fee-based energy risk management and execution consulting division called Amerex Energy Consulting Services (AECS).
Nabucco pipeline construction deal agreed
Five transit countries have signed an agreement to construct the €8 billion, 3300 km Nabucco natural gas pipeline.
Trayport links cleared OTC energy trades to LCH.Clearnet
Trading software provider Trayport has announced that it will now offer automated clearing for energy OTC trades on LCH.Clearnet.
Treasury casts some light on OTC derivatives regulation
US Treasury Secretary Timothy Geithner spoke further about Government plans for the regulation of over-the-counter (OTC) derivatives today during a hearing of the House Financial Services and Agriculture Committees.
French power supply problems could hit UK
Unusually high temperatures last month put a third of France's nuclear power stations out of action, forcing the country to import electricity from the UK. According to Chris Bowden, CEO of energy and carbon advisors Utilyx, the UK may face similar…
Government initiates $3bn renewables programme
The US Treasury and Department of Energy today announced today a $3 billion funding programme for the development of renewable energy projects, as well as publishing application guidance for obtaining funds.
Carbon traders reject EDF Energy’s price floor calls
Carbon market participants have criticised calls by EDF Energy chief executive Vincent de Rivaz for a carbon price floor.
Updated: Light at the end of the tunnel for Russian JI
The Russian government is discussing an important step towards clarifying regulatory procedures for JI projects, according to market participants.
NRG deals another blow to Exelon takeover attempt
NRG Energy has rejected Exelon Corporation's latest bid, saying it significantly undervalues the company.
E.ON and GDF Suez fined for market sharing
The European Commission has fined Germany's E.ON and GDF Suez of France €553 million each for agreeing not to compete in each others markets between 1975 and 2005.
Pickens Plan hit by transmission issues
Oil tycoon T. Boone Pickens has confirmed reports that he is to shelve plans to build the world's largest wind farm in Texas and will funnel the resources into smaller projects instead.
Recession drives carbon trading says report
The global carbon market has grown despite the economic slowdown, a report has shown. Global carbon market volumes grew by 124% and by 22%, in terms of value, in the first half of 2009, according to a report by market analysis firm Point Carbon…
UPDATED: CFTC plans speculation clampdown
The Commodity Futures Trading Commission (CFTC) will hold public hearings in July and August to discuss the need for federal position limits to be imposed on energy futures traders.
“Slow and Painful” recovery for oil industry says Moodys
Ratings agency Moody's expects economic recovery within the global oil industry in 2010 to be 'slow and painful', according to its Industry Outlook for the Global Integrated Oil sector published last week.
Oil & gas sector stung by Obama budget proposals
Tax changes proposed in President Obama's 2010 budget have raised concerns in the US oil & gas industry about supply security and price volatility. Pauline McCallion reports