Energy transition
Exchanging blows
Conflict in the US and growth in Europe marked another turbulent year for energy exchanges. Kevin Foster casts an eye back over 2002
Rising fuel costs, diving profits
Airlines differ on how to manage jet fuel price ‘hyper-volatility’ as option prices point to more turbulence ahead. Catherine Lacoursière reports
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
Standardising electricity contracts
Electricity contracts have come and gone, but a new trio of financially settled futures contracts aims to widen the electricity market, reports James Ockenden
Between Kyoto and the caribou
Ratification of the Kyoto Protocol on climate change is unlikely to have an effect on the burgeoning Canadian oil and gas sector, as Maria Kielmas discovers
Struggling for integration
Political issues are stalling Mexico’s energy sector reform just as the country is poised to become a major natural gas importer, reports Maria Kielmas
Quality data and solutions for a challenging market
FAME provides today’s uncertain energy market with transparent information and the tools to analyse it
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
A long road to deregulation
Prospex Research’s Ben Tait reports on Spain and Portugal’s progress in integrating their power markets. High ambitions for deregulation are proving difficult to achieve
All clear for energy
Several organisations have brought over-the-counter clearing to the US energy markets over the past six months. Kevin Foster assesses their progress and asks whether they can all survive
Looking to the long term
After years of public debate, the European Commission, energy companies and governments of gas-producing countries all seem to agree that long-term gas contracts are here to stay. So why is it still such a big issue, asks Maria Kielmas
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
Going short under the SMD
Scott Greene, Mark Niehaus and Pankaj Sahay of PricewaterhouseCoopers look at the effect of settling a short position in the day-ahead market under the Federal Energy Regulatory Commission’s proposed standard market design
Doing the maths: physical value-at-risk
ABB’s William Rutz and Bob Fesmire investigate new tools that calculate physical value-at-risk based on simulations of generating resources and power transactions
Estimating oil price volatility: a Garch model
Nikolai Sidorenko, Michael Baron and Michael Rosenberg present a general framework for modelling energy price volatility. These models explain the volatility persistence and clustering present in many commodity prices. In addition, they can incorporate…
Through the looking glass
Unlike oil and natural gas, electricity generally suffers poor price transparency. Rachel Jacobson of FAME Information Services looks at power price discovery mechanisms in the US
Out of the zone: nodal pricing takes hold
Congestion-constrained US electricity markets are likely to find relief with the arrival of a new pricing regime, reports Catherine Lacoursière