Market risk
The blame game
In the first of two articles on the effect of speculative traders on energy prices, Tom Matthews of Kinder Morgan argues that speculators do not cause price volatility and outlines research he has done on the subject
Market focus - Sky-high cost of clean air
US emissions allowance prices for sulphur dioxide (SO2) rose nearly 200% in 2005 and 300% during 2004. Sandy Fielden of Logical Information Machines examines the SO2 emissions allowance market and discovers which market drivers are forcing prices ever…
The advantage of ASPs
Web-based energy-trading solutions offer certain advantages over server-based systems, says Thurstan Bannister. In a later issue, we will publish an article setting out the benefits of server-based software
Deriving storage value
Following an article Energy Risk published in July, TransCanada's Farzan Nathoo looks at how companies can extract value from their natural gas storage assets
Package deals
Banks have been choosing off-the-shelf fully integrated systems for energy trading and risk management. But some feel the available software still falls short
OpenLink, Triple Point sign more bank clients
Rival US-based energy trading software suppliers OpenLink and Triple Point Technology (TPT) both signed big new clients this year, increasing their dominance of the energy software market for the banking sector.
Duke Energy to adopt Cinergy trading approach
Following the transfer of its energy derivatives portfolio to Barclays Capital, Duke Energy is targeting a lower-risk trading strategy pioneered by Cinergy, the company it is buying
What drives natural gas?
Natural gas prices in the US are at an all-time high. The Gulf Coast hurricanes and record summer heat have taken their toll, and business is feeling the effect. Studying and applying seasonality can often protect aganst the volatility of these markets,…
Pioneers Oil: David Hufton
Today it's almost impossible to imagine an energy world without a mature, liquid oil market at its heart. Yet the development of the world's biggest commodity market was not a natural inevitability - it took the hard work and tenacity of a small and…
Options - A plan for all seasons
Selling natural gas options on a market that is adhering closely to a seasonal tendency can be a powerful strategy for an option seller, write James Cordier and Michael Gross
A look in the rear view
Utilities and regulators often disagree over the purpose of energy price risk management. Manitoba Hydro's recent experience with backtesting its hedging strategy is a case in point
Any fool can do it
Some quant techniques are easier than you might think. In the second part of his set of ten tips and tricks for aspiring energy quants, Neil Palmer shows why..
2005 in review
The energy markets were a dynamic place to be in 2005, with high volatility and an explosion of new players hitting the scene. Inevitably, though, it wasn't all smooth sailing. Energy Risk looks back over the highs and lows of 2005, from the launch of…