Market risk
Dominion buys 310MW plant from Dynegy and NRG
Dominion Virginia Power, the power utility subsidiary of Dominion, today completed the purchase of the 310-megawatt Commonwealth power plant in Chesapeake, Virginia. The move is consistent with its aim of reducing the cost of long-term power purchase…
Saudi to up oil output to 12.5 million b/d
Saudi Arabia’s total oil production capacity is now at 11 million barrels a day (b/d) and plans are in place to increase it to 12.5 million b/d, Saudi Arabia’s Minister of Petroleum and Mineral Resources, Mr Ali Al-Naimi, said Monday.
CFTC allows US firms to trade on EEX
The US Commodity Futures Trading Commission has permitted US companies to trade power derivatives on the European Energy Exchange with immediate effect, EEX said Thursday.
Energy users demand trading oversight
The debate continues over whether speculative traders are distorting energy prices, following a letter sent by the Industrial Energy Consumers of America (IECA) to Congress last week. “Energy markets have changed drastically, and regulatory oversight,…
Energy traders urged to pre-register for risk poll
Energy traders wishing to take part in Energy Risk/Risk’s 12th annual Commodity Rankings can now pre-register to vote to avoid missing important voter updates and deadlines in the magazines’ annual survey of the energy business.
BNP beefs up energy team
BNP Paribas has expanded its energy derivatives team in London with four significant hires.
IPE members approved to trade on Ice OTC markets
The International Petroleum Exchange’s (IPE) registered brokers and local traders can now trade on IntercontinentalExchange’s (Ice) over-the-counter markets for their own accounts.
California ISO gets tough on generators with new software
Power suppliers in California will face financial penalties if they deviate from pre-specified generation levels as of December 1. This is one of the main changes brought in by a new software system implemented by the California independent system…
Dynegy to buy Sithe Energies from Exelon
Dynegy is set to reduce the effect of some of its loss-making tolling and financial swap contracts, buy power plants in the northeast US and acquire a supply agreement to increase stable cashflow and service debt.
A slice of the IPE
The fate of the Nymex Brent contract launched this month in Ireland – an undisguised attempt to grab business from the IPE – will be determined by Christmas, say Dublin floor traders. By Stella Farrington
A slow squeeze
The oil price may have eased recently, but it remains high. What impact is this having on the global economy? Concerns remain for the long-term future of crude supply. Joe Marsh reports
A surprising future
High oil prices are not triggering as large an upturn in oil exploration as was first expected, with many questioning how long the current situation will last. But high prices are having some rather unexpected effects. By Maria Kielmas
Ten years at the top
A decade of commodity rankings has seen many players come and go – but as James Ockenden finds, the top two investment banks, Morgan Stanley and Goldman Sachs, have been solid all the way
Clear intentions
The Alberta Watt Exchange in Calgary is already clearing over-the-counter electricity contracts and from next year will be able to clear natural gas as well. But how much liquidity will it attract? Joe Marsh reports
Playing monopoly
China Aviation Oil is well placed to benefit from China’s economic boom – thanks to its powerful jet-fuel supply monopoly. Yet there are still opportunities for those willing to develop new markets, finds James Ockenden
Agree to disagree
Volatility in the dry freight market has led to the use of derivatives such as forward freight agreements and the development of other innovative products. But will they have a lasting impact on the energy markets? By Hann Ho
Risky liquidations
It is all too easy to go for the simplest solution when liquidating an energy portfolio of different positions. Brett Humphreys discusses some of the problems with appropriately calculating the VAR associated with liquidating a portfolio
A popular punt
Experts remain bullish about the flow of new money into catastrophe cover. But an influx of hedge funds backed increasingly by institutional capital has led to worries of a “domino effect”. By Maria Kielmas
Missing links
For utility companies with income streams linked to inflation, using inflation derivatives to match assets with liabilities easily and relatively cheaply must be the easy option? If only it were that simple. By John Ferry
Nymex to launch two new coal swap futures
The New York Mercantile Exchange (Nymex) will launch two new coal futures contracts – one for eastern coal and one for western coal – on its ClearPort trading platform on October 31.
Nymex to launch New England electricity futures contract
The New York Mercantile Exchange will introduce a New England swap futures contract on its ClearPort trading platform on October 31.
US Midwest a step closer to wholesale power market
After several delays, the Midwest wholesale power market might now be on course for launch next March. The Midwest independent transmission system operator (Miso) today announced the creation of three financial hubs for the wholesale trading of…
Nymex European launch imminent
Nymex aims to launch an open outcry exchange in Europe, most likely initially in Dublin using Nybot’s Finex facilities, according to president James Newsome.