Energy trading
All talk, no action
Cancelled power plant auctions and the complexities of asset debt structures are bad news for the boutiques set up to acquire power assets. The boutiques talk a good business plan – but execution may prove troublesome, as Paul Lyon discovers
The search for spot
Strong demand for US liquefied natural gas is accelerating the development of an active global spot market and pricing benchmarks, as Catherine Lacoursière discovers
Austrian rail firm on the risk management fast track
Austria’s largest electricity consumer, rail firm Österreichische Bundesbahnen, talks to EPRM about its energy risk management strategy. And, as Paul Lyon discovers, other end-users could learn from the innovative company
US coal trading picks up steam
While the coal market awaits pricing indexes to reinvigorate trading, emissions trading is getting a boost from increased coal burning. Catherine Lacoursière reports
Seeking an end to manipulation
Renewed allegations of manipulation of natural gas pipeline capacity in the US have been partly blamed on regulatory complacency. How can regulators put an end to the problems dogging the gas markets? Catherine Lacoursière reports
Buying your way out of trouble
UK high-street retailer Littlewoods has saved £1.5 million through an energy risk management and procurement programme. Utilyx’s Nigel Cornwall looks at how other companies can reduce energy costs through purchase programmes
Carbon across Europe
Pan-European emissions trading is a step closer after agreement of an EU directive. Atle Christiansen and Kristian Tangen of Point Carbon look at the consequences
Speculate away
A new report argues that speculative trading in the crude oil markets contributes far less to volatility than its critics suggest. Kevin Foster looks at the arguments
The return of Russian crude
Russia has reclaimed its position as the world’s biggest oil producer for the first time in a decade – but uncertainty is still preventing some foreign oil firms from making the investments the country needs to fulfil its potential. Kevin Foster reports
Pumping up prices
Gasoline prices in the US hit all-time highs in March, and the price is expected to remain high throughout the summer. Kevin Foster looks at the contributing factors
Models of good behaviour
The development of new models that describe the real dynamics of energy prices have to take into account the behavioural aspects of market players. The problem is how to quantify these aspects. Maria Kielmas reports
Seam shifts in central Europe
Gordon Feller looks at the changing coal economies of Bulgaria, the Czech Republic and Slovenia and the effect of electricity sector moves in the region
Online clearing: the shape of energy markets to come
The energy trading market is moving towards a structure in which participants achieve market presence through a dedicated market network, rather than having to use local or regional exchanges, says strategic consultant Chris Cook
US gas market challenges
A new report from the investigative office of the Federal Energy Regulatory Commission finds that competitive natural gas markets in the US are robust, but warns of challenges ahead. Kevin Foster reports
Coal on the rocks
Faced with liquidity problems, falling volumes and uncertainty over the accuracy of price data, coal trading has had many of the same difficulties as the natural gas and power sectors over the past year. How can it get back on its feet, asks Kevin Foster
In search of transparency
The open secret of index price manipulation in the natural gas sector is officially out, and the industry is scrambling to reform the system. Kevin Foster reports
A safety net for energy traders
Will the Edison Electric Institute’s master netting agreement help reduce credit risk for energy traders? Kevin Foster takes a look at this new initiative
El Paso helps RiskMetrics adapt
RiskMetrics Group, a company more often associated with the financial sector, is implementing its risk solution software at energy firm El Paso Corp. How is it adapting the software to the specifics of the energy sector? Kevin Foster reports
Fighting oil volatility
Oil cartel Opec froze its production output level at its last meeting in September. With war in Iraq on the cards, Shifa Rahman reports on the future of oil volatility
Cleaning up in California
As oil majors embrace the use of ethanol in Californian gasoline, analysts are warning that it will cause a rise in prices at the pump, as Kevin Foster discovers
Brent’s liquidity crisis
The decision by energy information provider Platts to alter the definition of its Brent benchmark price has forced the issue over the crude blend’s liquidity problems, reports Matt Horsbrugh