Enterprise risk
University of California adds four to Enron lawsuit
The University of California continues to add plaintiffs to its lawsuit against Enron. RBC, Goldman Sachs and two law firms are now facing the university’s wrath. By Paul Lyon
Risk at the margin
Competition and deregulation has led to new ways of running utilities, and the commodity-trading model has emerged as the leading approach. But the challenge lies in how it is applied, argues Lawrence Haar
Nuclear stockpile
The US Nuclear Regulatory Commission has come under fire for not adequately monitoring the decommissioning funds of nuclear power plants. But the NRC says the criticism is unwarranted. By Paul Lyon
Protection treaty
Matthew Saunders , of law firm DLA, introduces the bilateral investment treaty which, though often overlooked, can be an effective method of affording legal protection for energy investments and minimising energy project risk
Capital calculations
The latest Committee of Chief Risk Officers white paper offers capital adequacy guidelines for energy merchants. But why should energy firms perform these calculations? Glyn Holton asks whether the CCRO has missed the point
Cash upfront
Memphis Light, Gas & Water is readying a landmark bond sale to fund a prepay electricity contract with the Tennessee Valley Authority. But some fear the deal could set a dangerous precedent. By Paul Lyon
FirstEnergy to blame for US blackout, say reports
Utilities in Ohio – chiefly FirstEnergy – were at fault for the US blackout in August, conclude separate reports from a US-Canadian task force and Michigan regulators. But the midwest system operator does not escape blame. By Joe Marsh
Bouncing back
Business may be sluggish in the energy sector, but energy risk technology companiesare adapting to the tough market environment and proving their resilience, evenif that means partnering with rivals. By Paul Lyon
Degreasing palms
The United Nations is likely to ratify extensive anti-corruption legislation in December. But recent scandals at energy giants Elf and Statoil highlight the difficulties in stamping out bribery and corruption. By Joe Marsh
TVA will go bust, say academics
US academics say that the Tennessee Valley Authority would be close to bankruptcy if it were not for the promise of a government bailout, reports Paul Lyon
The future of ETRM
As generation, trading and retailing companies come out from under the dark cloud to prepare for what looks to be a brighter future, one issue has become critical – the need to upgrade outdated ETRM systems with 21st century architecture, portfolio…
Creative challenges in customer-driven risk management
Shell Trading’s Ken Gustafson and Jemmina Gualy shed light on the environment in North America for customers and dealers in risk management, and look at the opportunities ahead for the business
Phillip Fletcher
Phillip fletcher , a partner at Milbank, Tweed, Hadley & McCloy, has seen nothing but change in his 15 years with the law firm, he tellsJames Ockenden
Running late
Compliance with the new International Financial Reporting Standards is likely to have a big effect on the volatility of oil, natural gas and utility companies’ reported earnings. Yet the sector has been slow to implement the IASB standards, finds James…
Enterprise-wide risk management
Market and regulatory requirements mean EWRM is fast becoming essential. Now is the time for implementation www.kpmg.com
Competing at the highest level
BP is fast becoming as well known for its risk management services as it is as a global energy company.
Upstream sector gets flexible
The oil exploration and production sector is transforming its thinking and trying to become more flexible by using portfolio management models, finds Maria Kielmas
Refining systems for oil trading
The increasing complexity of the crude oil business – on both the physical and financial side – means companies in the sector need fast-changingand flexible software to manage their operations. CliveDavidson reports
Energy firms face “crunch time” for accounting compliance
Professional services firm PricewaterhouseCoopers (PwC) says time is running out for energy and utility companies to get to grips with the pending implementation of the International Financial Reporting Standards (IFRS).
Rothschild enters oil risk sector
Heading the senior team is Martin Fraenkel, previously managing director of JPMorgan Chase's global commodities group in London. Fraenkel has recruited hissenior team from outside Rothschild. KamalInvestment bank Rothschild has entered the oil risk…
Measuring the value of clearing
Central clearing houses offer major advantages to the electricity trading industry, says UK Power Exchange’s Paul Danielsen. He sets out a practical example to demonstrate how UK power firms can benefit from clearing