News
ICF offers risk management for energy companies
Consultant ICF International has announced that it will offer risk management services to the energy sector.
Global carbon trading to grow by 20% in 2009
The global carbon market will see a 20% boost in volume in 2009, according to the latest figures from Point Carbon.
FCStone Group increases bad debt provision for energy trading account
FCStone Group expects to incur an additional $60m to $80m pre-tax bad debt provision in connection with previously-reported losses on a significant energy trading account.
Enel to acquire Endesa for €11.1 billion
Italy's largest power company Enel has signed an €11.1 billion agreement with Spanish development company Acciona, for its 25.01% stake in Spanish power company Endesa.
Vattenfall to buy Nuon's production & supply business
Swedish energy company Vattenfall has made an all cash offer of €8.5 billion for 100% of the shares of Dutch company Nuon's production & supply business. Nuon's grid company is not involved in the transaction.
JI finally accredits first third party verifier
The Kyoto Protocol's Joint Implementation (JI) mechanism has accredited its first third party verifier, TÜV SÜD Industrie Service, almost ten years after the UN-backed carbon offsetting mechanism was first agreed upon.
Icap clears first ag swap through ICE
Interdealer broker Icap has executed the first ever cleared agricultural swap transaction through IntercontinentalExchange clearing house ICE Clear US. Regulatory approval for such transactions was granted by the CFTC in December last year.
CFTC acts to shut out grain futures speculators
The US Commodity Futures Trading Commission (CFTC) has approved new rules designed to reduce distortions in the soft commodity futures markets caused by speculative activity.
BarCap executes RGGI forward trade agreement
Barclays Capital today executed its first transactions on a forward trade agreement that includes provisions for US emissions allowances associated with the Regional Greenhouse Gas Initiative (RGGI), the first mandatory carbon cap-and-trade program in…
Deutsche Bank joins DME as clearing member
The Dubai Mercantile Exchange's membership committee has today approved Deutsche Bank as the 22nd clearing member of the exchange.
Eurex to launch commodity index futures in March
Eurex will be the first European exchange to offer trading in commodity index derivatives with the launch of four new contracts on March 30.
DNV suspension lifted
A major player in the Clean Development Mechanism (CDM) markets has been allowed to resume validating projects, the United Nations (UN) CDM Executive Board (EB) has announced.
CME launches electricity futures contracts
CME Group has announced 34 new PJM, ISO electricity swap futures contracts will begin trading on the exchange from 22 February for trade date of 23 February 2009.
US legislators to move on cap and trade before June
Draft climate change legislation will be presented to the US House of Representatives by Monday 25 May 2009, according to Representative Edward Markey, chair of the House Energy and Environmental subcommittee.
Aviation industry calls for inclusion in Copenhagen deal
Four of the world's leading airlines have today called for carbon dioxide emissions from international aviation to be included in any new global climate change deal agreed at the UN's Copenhagen Summit in December.
Asian airlines struggle with volatile oil prices
A major contributor to the large fuel-hedging losses suffered by Chinese and Taiwanese airlines for 2008 were collar strategies - the purchase of call options and simultaneous sale of put options. But some Asian carriers, such as Malaysia's Air Asia and…
US and European firms in bid for LCH
A consortium of major US and European financial institutions is lining up a bid for London-based derivatives clearing house LCH.Clearnet. Deutsche Bank is acting as adviser on the acquisition, as well as being part of the bidding group.
ASX to launch coal and power futures
The Australian Securities Exchange (ASX) is to list thermal coal futures and options on April 21. It will also launch New Zealand electricity futures on 28 April and natural gas futures contracts for the state of Victoria on 5 May.
Nymex to list Henry Hub financial last day options
CME Group is to list Henry Hub natural gas financial last day options on its subsidiary New York Mercantile Exchange (Nymex). The options are scheduled to begin trading on February 22 for trade date February 23.
Spanish power price drops 30% on plunging demand
Spanish baseload electricity prices on power exchange Omel fell by 12.6% in January to an average of €49.93 per megawatt hour, marking a 30% drop in the past 4 months.
AAUs: hot commodity or just hot air?
A recent flurry of deals for government-level carbon credits has increased interest in the potential for the AAU market. Roderick Bruce investigates