Feature
Unleaded prices feel the heat
Data management and analytics specialist FAME Information Services looks at the effect the US driving season is having on US gasoline prices, taking into account various factors – in particular, the big impact of higher crude oil prices this summer
Rating agencies raise the bar
Confidence in energy traders has never been lower, and the metrics the rating agencies apply to their business are changing. James Ockenden assesses the damage
Tools for the trade
Ken Nichols examines the mechanisms available for incorporating credit risk management into an energy company’s portfolio
Avoiding over-exposure
Eurof Thomas finds the European energy market is increasing its focus on credit risk mitigation in the wake of Enron’s demise
Higher or lower?
Kevin Foster looks at how credit rating agencies assign a rating to companies in the energy sector and what kind of factors are taken into account
Demystifying credit risk
Satyan Malhotra, Fred Cohen and Rafael Cavestany formulate an analysis for the measurement of credit risk in the energy industry
A whole new ball game
Enron’s bankruptcy has changed the playing field for credit risk in the energy sector. Kevin Foster reports on the renewed significance of assessing credit quality
Heeding the warning signs
Following the Enron bankruptcy, the use of bond-spread analysis has become increasingly important. Mark Williams looks at how firms can benefit from it
Proper procedures
Rajiv Arora examines the processes necessary for effectively measuring, managing and hedging credit risks
Finding a solution to the credit problem
Peter Stockman of Accenture outlines what energy companies can do, internally, to manage credit more effectively and addresses the potential benefits of participating in a multilateral netting solution for the industry
Discovering new frontiers
Joerg Engels and Volker Linde report on the changes Germany’s deregulated energy market will have to make as a result of the country’s banking act
Europe’s patchwork path to liberalisation
In the three years since the European Union’s Electricity Directive came into effect much has changed in Europe’s energy industry, but the industry is still far from achieving the goal of a pan-European energy market, as Matt Horsbrugh discovers
Utilities renegotiate to survive
For the past 10 years, Argentina’s privatised utilities have been icons of successful energy sector reform. But with the country’s deepening crisis, they face increased difficulties. What can investors do to mitigate such risks, asks Maria Kielmas
Mixed signals from the east
Flaws in Poland’s electricity regime have crippled Warsaw’s two-year-old power exchange. But Slovenia’s power exchange is faring rather better. Peter Joy reports
A cure for Enron flu
Brett Humphreys discusses recent events in the energy sector and the role risk managers can play in improving the industry
Worth waiting for?
Just over a year on from the delayed launch of the UK’s new electricity trading arrangements, prices have dropped to new lows. But just how low can generators go, asks Joel Hanley
Storing up the gains?
Natural gas prices are climbing again, and energy companies are reacting by putting in place new hedges, as Kevin Foster discovers
Keeping score
This month Brett Humphreys and Zach Jonasson show how energy trading firms can compare performance using publicly available corporate information
Banks take shelter in derivatives
While some banks have found the weather derivatives market a non-starter, others are doing deals worth more than $100 million. Eurof Thomas reports
A smooth handover?
A change in the way weekly natural gas storage figures are reported is proceeding fairly smoothly – but it may still cause price swings, as Kevin Foster discovers