Credit risk
Electricity-backed security: concepts and measures
John Jiang and Hanjie Chen propose a generic concept ofelectricity-backed security, which provides an additionalfunding method to utilities with poorer credit ratings,and a new asset class to investors
Foot on the gas
Gazprom Marketing and Trading entered the UK in 1999 with ambitious plans. Today it has a presence in six European countries and trades power, oil, coal and liquefied natural gas. Roderick Bruce meets head of trading Keith Martin and business development…
Credit Suisse and NECC forge partnership
Credit and clearing service provider North American Energy Credit and Clearing (NECC) has entered into a joint venture with investment bank Credit Suisse.
Correlation and credit VAR
Navneet Arora and Shisheng Qu show that credit VAR in commodity trading is affected not only by the inherent credit risks of counterparties, but also by various correlations among counterparties and between counterparties and commodity prices
Lessons learnt
This year was one of unprecedented volatility for energy markets, yet it also marked a step-change in market maturity. Energy Risk asked some key players what they see as the defining events of 2006 and how they will affect behaviour in 2007. By Stella…
CBOT launches OTC ethanol contracts
Hot on the heels of its benchmark ethanol futures contract, the Chicago Board of Trade has unveiled plans for two new over-the-counter (OTC) Ethanol Calendar Swap contracts.
Trading opinions
Energy risk professionals from all over Europe gathered in London last month at the Energy Risk Europe conference to debate the hottest topics facing the industry today. The Energy Risk team bring you some highlights
Shifting sands
High oil prices and a lack of accessibility to reserves are reawakening oil majors' interest in Canada's oil sands. David Watkins looks at their potential and at the challenges involved in this capital-intensive mining operation
Risk management for LDCs
US Gas Distribution Companies, long experienced in managing volumetric risk, now face market risk, high commodity prices and credit risk. Matthew Frye looks at strategies to model these risks in aggregate
Bankruptcy Code confusion
Amendments to the US Bankruptcy Code concerning forwards, swaps and commodity contracts have far-reaching implications for energy company bankruptcies, but uncertainties remain, write Kenneth Irvin and Nathan Coco
SGX AsiaClear to offer clearing on partials
The Singapore Exchange (SGX) has announced that SGX AsiaClear will offer the clearing of OTC balance-of-month fuel oil 180cst and 380cst swaps from September 4.