News
Federal carbon trading bill to be "passed next year,” says lawmaker
A Democrat on the US House of Representatives Energy and Commerce Committee says that a carbon cap and trade bill could be passed in the United States as soon as the middle of 2008.
Macquarie consortium buys US utility
A consortium of infrastructure investors led by Macquarie Infrastructure Partners (MIP) has purchased utility company Puget Energy, based in Washington State.
Crude oil sets new price record
Crude oil futures closed at a new record high Monday, driven by tight fundamentals, geopolitical tensions and a production setback in Mexico.
New price record for crude
Crude oil futures closed at a new record high Friday, driven by tight fundamentals and geopolitical tensions.
Earnings grow 14% for energy risk professionals
Energy risk management professionals enjoyed an average 14% rise in pay during 2006, according to a survey conducted by Risk Talent Associates, a risk management executive search firm.
BP settles with CFTC
BP has agreed to pay a $303 million fine to the Commodity Futures Trading Commission (CFTC) and Department of Justice (DoJ) over alleged TET propane market manipulation in February 2004.
Raging California wildfires trigger transmission emergency
The California Independent System Operator Corporation (CAISO), which operates California’s open-market wholesale power grid, has issued a transmission emergency warning following four days of wildfires that have sparked the biggest US evacuation since…
CFTC pushes for greater oversight
The Commodities Futures Trading Commission (CFTC) has issued a report to Congress recommending that its oversight ability be expanded across electronic trading facilities known as Exempt Commercial Markets (ECMs), which include the electronic…
ODL brokers record gas oil options deal
ODL Securities brokered the largest ever deal in exchange-traded gas oil options in September.
Nomura to offer catastrophe risk hedging
Nomura Securities will provide its Japanese clients with risk hedging to transfer catastrophe-related risk to the capital markets via derivatives and catastrophe bonds.
Mizuho launches alternative investment group
Mizuho International, the London-based international securities arm of Mizuho Financial Group, has launched a new alternative investment group (AIG).
US cannot cope with power demand: Nerc
Electricity usage in the United States is projected to grow more than twice as fast as capacity growth over the next 10 years, the North American Electric Reliability Corporation (NERC) has warned in its 2007 Long-Term Reliability Assessment.
Crude hits all time high of $88, more upside seen
Oil price risk remains to the upside after it shot through $88 a barrel Tuesday on declining US stocks and growing geopolitical tensions in the Middle East, analysts say.
JPMorgan TSS selected as ICE Clear Europe consolidation bank
IntercontinentalExchange (ICE) has appointed JPMorgan Treasury & Securities Services (JPMorgan TSS) as consolidation bank for its European clearing house, ICE Clear Europe.
Aleri and OILspace enter partnership
Aleri, a provider of complex event processing (CEP) technology, and OILspace, a provider of real-time energy management applications, have entered into a partnership to offer their combined services to customers.
E.ON takes majority stake in Russia’s OGK-4
German utility E.ON has acquired a 69% stake in Russian power plant company OGK-4 for €4 billion. OGK-4 is one of six large-scale power plant operators in Russia being privatised by the state-run holding company RAO UES
BP restructures to “close performance gap”
Oil company BP has announced it will restructure its business as part of a global initiative to close a performance gap with its rivals.
Goldman Sachs invests in Nordic Windpower
Investment bank Goldman Sachs has made a “significant investment” in Nordic Windpower, a manufacturer of two-bladed utility-scale wind turbines.
Record volumes for SSY / GlobalCoal screen
Shipbroker SSY has announced a record number of deals on its online freight derivatives trading platform, run in conjunction with coal trading services provider GlobalCoal.
Merrill Lynch introduces biofuels indices
Investment bank Merrill Lynch has introduced two indices designed to offer investors exposure to the fast-growing biofuels market.
EEX and Eurex to cooperate in CO2 trading
The European Energy Exchange (EEX) and international derivatives exchange Eurex announced today that they are to offer a common platform for emissions trading.
Bid to close Enron loophole
Legislation aimed at preventing price manipulation and excessive speculation in energy markets has been introduced to the US Senate, writes David Watkins