Market risk
National Bank of Canada reunites heavy hitters for energy push
National Bank of Canada (NBC) has expanded its energy derivatives team in Calgary with three new managing directors, with the aim of attracting more utility and energy-consumer customers.
Papering over the cracks
High energy prices are forcing pulp-and-paper makers to take action against falling profits, yet most companies are still shying away from energy price hedging. But that situation may be slowly changing. Joe Marsh reports
Top tips and dirty tricks
You don't have to be a genius to work as a quant - though it helps - but you do have to know a few tricks of the trade. So where should aspiring energy quants start? Neil Palmer offers some suggestions
A matter of principal
Developing term structure models can be tricky, as unknown factors and non-observable variables can affect futures prices. But principal components analysis is useful in tackling these problems. Here, Delphine Lautier uses PCA to pin down price movements…
Playing power games
Thanks to increasing consolidation, it seems the country-specific energy exchange will soon be a thing of the past in Europe. But is this level of competition premature?
Congestion charges
As the US' premier regional transmission organisation, PJM Interconnection's pricing and transmission congestion models must be foolproof. Sandy Fielden describes how they work and the associated risk management mechanisms available to participants
The right of refusal
Traders have learned that giving away free financial options can be costly. However, free options can take many forms. Brett Humphreys and Tamara Weinert discuss the value of a risk management option that can easily be given away
Regulating Germany
Matthias Kurth was appointed Germany's first energy regulator in June of this year. The decisions he makes as the new Federal Network Agency president will be felt throughout European energy markets. He speaks to Oliver Holtaway
Francis Van Der Velde
Francis Van Der Velde of Brussels-based Fuel Purchasing & Consulting is more aware than most of the pain airlines are suffering
How long will the shopping spree last?
China appears set on a programme of foreign energy asset acquisition. Maria Kielmas looks into the implications for the energy industry
Carbon complexities
The EU ETS adds price complexity to European energy markets and the trend towards pan-European markets means far more complex models will be needed to model carbon risk, writes Bjorn Brochmann
Energy trading helps JP Morgan post record results
Energy-trading revenues played a big role in bringing JP Morgan a 2005 third-quarter net profit of $2.5 billion, up from $1.4 billion in 2004. This was on the back of third-quarter net revenues of $15.6 billion, up from $13.6 billion in the same period…
Endex lists Belgian power forwards
Dutch electricity exchange Endex started listing Belgian power forwards today. Belgian utility Electrabel and German utility Essent did the first trade today, a November baseload contract.
BP Singapore chooses Oilspace’s Oilwatch
Global energy major BP’s Singapore division is implementing Oilspace’s Oilwatch, a web-based portal for real-time, aggregated energy prices, news and analytics. BP Singapore is rolling out the service across the Asia-Pacific region.
Tullett Prebon forms wet freight derivatives venture
Tullett Prebon, part of Collins Stewart Tullett, is the latest interdealer broker to partner with a shipping broker to offer forward freight agreements (FFAs). It has started a venture with three international shipping brokers with the aim of…
Decisions, decisions
Where next for the price of a barrel of oil? It’s an important question for producers and consumers, for whom managing oil price risk has never been more crucial. Oliver Holtaway finds that the answer to that question is not necessarily ‘up’.
Don’t blame Opec
As well as urging Opec to open up international access to its reserves, politicians in large oil-consuming nations should be encouraging investment in new refinery capacity, writes David Hufton
The cream of the crop
The employment market for oil and energy traders has been from one extreme to the other in a short space of time – especially in oil. Andy Webb looks at where the recruitment market is headed next
The risks of E&P
After two years of soaring oil prices, oil majors are still building low oil-price forecasts into future investment plans. Is this sound risk management, or are they being too risk averse? By Stella Farrington
BEAU TAYLOR
Beau Taylor , global head of energy at JP Morgan, plans to turn the bank from a niche participant into a dominant player in the energy markets. By Joe Marsh