Energy
Polish power exchange chooses OMX software for trading and clearing
In a move to develop its electricity spot and derivatives market, the Polish Power Exchange (PolPX) will use the Condico system from Stockholm-based OMX, the owner and operator of the Swedish stock exchange.
IPE-ECX carbon futures contract faces fierce competition
London’s International Petroleum Exchange (IPE) and the Amsterdam-based European Climate Exchange (ECX) are set to offer CO 2 futures contracts under the EU Emissions Trading Scheme (ETS).
Turbulent times
The new Renewable Sources Act obliges German utility companies to buy all the wind power generated in the country on any one day. And it is adding a new volatility to the German power market. By Stella Farrington
Germany’s closed shop
Despite six years of liberalisation, Germany’s gas market is still virtually closed to outside competition. Writing from Germany, Stella Farrington looks at whether new regulation is finally about to bring change
Powernext selects Trayport for emissions trading, awaits CO 2 allocation
French electricity exchange Powernext will use software supplier Trayport’s Global Vision platform for CO 2 emissions trading, but is still waiting to start the spot emissions market it first announced in January.
Hanging on at the top
This year’s User Choice Awards demonstrate that quality counts. In a fast-changing market, the top vendors and packages have managed to stay ahead of the pack. But the winners cannot rest easy. With IT budgets deflated, it’s a competitive market, and…
Opec split over increasing oil production
Ministers of the Organisation of Petroleum Exporting Countries (Opec) arriving in the Iranian city of Esfahan Tuesday sent out mixed messages over the expected outcome of Wednesday’s meeting.
Greenpeace protest at IPE fuels debate on emissions trading
Greenpeace’s invasion of London’s International Petroleum Exchange (IPE) on Wednesday was intended to draw attention to the environmental impact of ‘big oil’ on the day the Kyoto Protocol came into force. However, by attacking an exchange that is about…
Spectron to launch LPG web-trading platform
UK energy broker Spectron will launch an online trading platform for liquefied petroleum gas (LPG) on Tuesday (February 22). Spectron said the screen will be the first to allow the trading of LPG in both the east and west, as outrights or spreads, and…
Greenpeace protesters storm IPE
Open-outcry trade in Brent and gas oil futures at London’s International Petroleum Exchange was halted for over an hour on Wednesday afternoon after 50 to 60 protesters from environmental group Greenpeace stormed the building.
UK broker trade group to launch emissions indexes
The London Energy Brokers’ Association (Leba) will launch a series of ‘green indices’, which it says are designed as independent benchmarks for the European emissions market. The association will release both spot and forward indexes, with the aim of…
OpenLink may launch web-based version of Endur
OpenLink may launch a web-based version of Endur, its energy trading and risk management system, according to Matt Frye, Houston-based managing director of the software company.
Nymex confirms plans to launch in London
The New York Mercantile Exchange (Nymex) today announced plans to open an open-outcry Brent futures floor in London. "It's our intention to move to London as soon as possible," Nymex president James Newsome told reporters in London.
A good bet for 2005
2005 is forecast to be a tough year for many hedge funds, but the saturation of some of their traditional markets could prove a boon to the energy sector, finds Stella Farrington
TriOptima trims six companies' oil swap portfolios
TriOptima, a Swedish company dedicated to reducing over-the-counter swap portfolios, has expanded its service into energy. The company has terminated its first group of multilateral OTC oil derivative swaps, with six companies eliminating unnecessary…
European Commission sues over emissions-trading legislation
The European Commission is taking legal action against Greece, Italy, Belgium and Finland for not fully transposing the emissions-trading directive into national law by December 31, 2003. Separately, Italy will receive a final written warning because it…
Amerex gains sulpur dioxide trading privileges on CCX
Houston-based broker Amerex Energy has obtained SO 2 trading privileges on the Chicago Climate Exchange (CCX), an emissions-trading marketplace. Amerex can now broker futures contracts in trading increments of 25-tonne SO2 allowances. The standard over…
A Kyoto windfall
Heavy polluters needing to reduce emissions under new EU legislation may find a solution in the developing world under Kyoto’s Clean Development Mechanism. Stella Farrington reports
Open for business
The EU Emissions Trading Scheme began this month, but much of the success of the fledgling carbon market will hinge on the behaviour of the 5,000 small companies who make up the bulk of the market. By Stella Farrington
Powering prices
The UK supplies the lowest priced power in Europe, and its Department of Trade and Industry wants to keep it that way. So it has published a report uncovering how the European Emissions Trading Scheme will affect power prices across Europe. By James…
The ETS law is an ass
Consultant Chris Cook offers a sceptical view of the development of European emissions trading, and suggests a new global energy solution based on an alternative to the financial market paradigm
Caught short
Given the difficulty China Aviation Oil is having closing its remaining illiquid positions, its derivative trading losses may be greater than first thought. James Ockenden and Stella Farrington report
Sovereign solutions
As we saw last month, most governments prefer stabilisation funds over hedging to protect against oil price risks. But multilateral institutions such as the World Bank advise otherwise. By Maria Kielmas
EnBW starts reporting CO 2 trades to EEX
EnBW Trading today became the eighth company to report its carbon emission trades to the European Energy Exchange (EEX) for the exchange’s CO 2 price index. EnBW Trading is a subsidiary of Karlsruhe-based German utility EnBW Energie Baden-Württembergin.