Energy transition
Stricter EU collateral rules threaten Nordic power market
Tighter EU collateral standards set to come into force in March 2016 may hurt liquidity in Nordic electricity derivatives, market participants say
Commodity premia: It’s all about risk control
Luc Dumontier and Guillaume Garchery of La Française Investment Solutions present the main commodity risk premia, ways to implement them and pitfalls to avoid
Web of EU commodity rules too complex, conference told
Mifid II, Emir, Remit and other new regimes covering EU commodity markets are not well co-ordinated, according to regulators and market participants at this year’s Emart
Oil rout sharpens energy companies' focus on credit risk
With defaults in the energy industry at their highest level in 15 years, firms are increasingly nervous about the credit standing of their peers. That has put pressure on credit teams to improve their counterparty assessments
Texas utility finds Dodd-Frank a source of frustration
For publicly owned Austin Energy, adapting the new US regulatory environment following the passage of the Dodd-Frank Act has been a bumpy ride
Bank exits from commodity trading hurt US power firms
US power companies are facing worse liquidity, increased hedging costs and a tougher time managing certain kinds of risks as a result of the exodus of banks from commodities trading
Q&A: French regulator defends Mifid II commodity rules
Mifid II has sparked an outcry from EU energy firms, which complain the new rules will force them to curtail hedging or even exit the markets altogether. But Vincent Derbali, an official with France's AMF and a member of Esma's commodity derivatives task…
In manipulation cases, "everybody's doing it" is no excuse
From the natural gas index scandal of the early 2000s to the Libor-rigging cases of today, it's always the junior employees who go to jail while bosses walk, Vincent Kaminski observes
Epex Spot CEO pushes to unite Europe's power markets
Exchange mergers will drive efficiency gains and foster the integration of European energy markets, says Jean-François Conil-Lacoste
Canadian energy firms anxious over trade reporting proposals
With oil-rich Alberta and four other provinces set to finalise a joint rule on trade reporting by year-end, Canadian energy firms are hoping that regulators resolve troublesome issues with the definition of a ‘dealer' and the handling of trades with US…
Obsession with competition isn't healthy for exchanges
Market operators spend too much time chasing their competitors and launching ‘me too' products when they need to be concentrating on the needs of their customers, the European Energy Exchange's Steffen Köhler argues
Vote now in the Energy Risk Commodity Rankings
Voting is open in the 2016 Energy Risk Commodity Rankings, which rank the top dealers and brokers in the global commodity derivatives market
Note to Brussels: energy firms are not banks
The Mifid II push to impose capital requirements on commodities firms rests on faulty logic
Mifid II sparks frantic lobbying push by EU energy firms
European energy firms are mounting a last-minute attempt to effect changes to Mifid II even as the legislative process enters its final stages. If the effort fails, a dramatic retreat from commodity derivatives markets could be in the works, Stella…
Modelling the financial risks of wind generation with Weibull
This paper discusses the manner in which wind generation can affect the half-hourly APX price and also the risk distributions associated with various power contracts. Wind generation is modelled using correlated doubly truncated Weibull distributions,…
Nasdaq grows energy sales team with ex-Goldman hire
Barclays adds energy trader in Singapore; Scotiabank loses senior energy trader; ex-BNP Paribas trader joins consultancy ARM; Noble hires Trafigura oil trader; Koch expands in power and renewables; Castleton hires Mercuria trio
Surveillance of EU energy markets set to increase
Regulators expect to make major advances in EU wholesale energy market monitoring now that trade reporting has begun, but some participants fear that different approaches across borders will lead to inconsistent enforcement
Barclays adds energy trader in Singapore
UK banks bulks up commodities team in Asia with hire from Koch Industries
Centrica CRO keeps watchful eye on new regulation
Managing all Centrica's financial risk is a challenging task, and one that is made increasingly complicated by regulation, chief risk officer Olivier Herbelot tells Mark Pengelly
Revenue put options gain popularity in US power markets
Dealers, led by Morgan Stanley, have made revenue put options an increasingly popular hedging tool with US electricity firms seeking to build new power plants. But some observers warn that the largely untested product contains risks for dealers and their…
Mifid II commodity rules agreed at 'last minute', officials say
Provisions in Mifid II that would hit energy and commodities firms received "the least consideration and scrutiny" in the entire package, says one regulator
Q&A: Ferc’s Norman Bay on market manipulation, polar vortexes
In an exclusive interview, the new chairman of the US Federal Energy Regulatory Commission rejects criticism of the agency’s enforcement actions
Energy Risk Asia Awards 2015: The winners
The 2015 Energy Risk Asia awards recognise excellence across commodity and energy trading and risk management. We reveal the winners