Market risk
Pulp friction
In the latest of Energy Risk’s series of profiles featuring energy users’ riskmanagement and hedging strategies, Paul Lyon talks to Swedish pulp and papercompany SCA about how it deals with its sizeable energy exposures
Weather Board of Trade's Parker joins NIF
Dan Parker, formerly chief executive of Atlanta-based Weather Board of Trade (WBOT), has joined NIF Weather Risk Management, a division of New York-based insurance holding company NIF Group. He plans to use a weather index originally developed for use by…
SunGard acquires ASP pioneer Kiodex
SunGard has acquired New York based Kiodex, a supplier of web-based risk management, financial reporting, FAS 133 compliance and market data solutions for companies exposed to commodity price risk.
Wachovia expands Calypso use to energy
US financial group Wachovia Corp is to expand its use of the Calypso system to include energy derivatives. Wachovia began trading oil and gas in February.
EnCana sells oil and gas assets for $395 million
Canadian exploration & production company EnCana Corp last Thursday sold oil and natural gas assets producing 16,800 barrels of oil equivalent a day (boe/d), to Harvest Energy Trust for US$395 million.
Merrill Lynch snaps up Entergy-Koch Trading
Investment bank Merrill Lynch is set to acquire the energy trading businesses of Entergy-Koch Trading (EKT), a joint venture between New Orleans-based Entergy Corp and Koch Industries in Kansas. Energy Risk reported in June that the bank was a top…
Alliant sells assets of gas marketing business
Wisconsin-based Alliant Energy Corp said yesterday that it has sold most of the assets of NG Energy Trading to BP Canada Energy Marketing Corp, but would not disclose the terms of the deal. The sale continues the trend for US energy companies to distance…
Cinergy to provide KGen with energy management services
Ohio-based energy company Cinergy yesterday said its marketing and trading affiliates will provide energy management services for power plants owned by KGen Power. Cinergy made the three-year agreement agreement with Kgen, a subsidiary of investment firm…
Energi E2 chooses KWI for multi-commodity trading
Danish energy production and trading company Energi E2 today signed up for K2, the integrated energy trading and risk management system from London-based KWI. Energi E2 will use the software for multi-commodity trading, with the aim of reducing its…
Banc of America Securities hires senior oil analyst
Banc of America Securities (BAS) yesterday hired Daniel Barcelo as a senior equity research analyst covering the global integrated oil sector. He joins the Bank of America subsidiary from rival bank Lehman Brothers and will be based in New York. He will…
IPE relaunches UK power futures, while LCH clears first OTC UK power trade
The International Petroleum Exchange (IPE), the London-based energy futures and options exchange, will relaunch UK baseload and peakload electricity futures contracts on September 14. Meanwhile, London-based clearing house LCH Clearnet yesterday cleared…
Crosspoint Ventures bids $190 million for Anadarko Canada assets
Crosspoint Ventures, the US global private equity and venture capital firm, has submitted an offer of $190 million to buy one of Canada's largest oil and gas operations from Anadarko Canada Corp., a subsidiary of Houston-based Anadarko – the eighth…
Iberdrola moves to spread its influence in Europe
Spanish utility Iberdrola is taking steps to expand its trading and supply activities in Europe, particularly in Portugal, given that the joint Iberian power market is scheduled to open in March 2005.
Tractebel opts for PowerCosts
Tractebel Energy Marketing, a subsidiary of energy company Tractebel, has signed up to use risk trading technology provided by PowerCosts Inc (PCI).
LCH Clearnet launches OTC clearing for UK gas and power
London-based clearing house LCH Clearnet today launched its new clearing service for over-the-counter (OTC) contracts for UK national balancing point natural gas and UK peak and baseload power contracts.
ABN continues BNP raid
ABN Amro has hired five senior energy derivatives executives, two of whom join from BNP Paribas. The move comes just three months after the Dutch bank poached Wayne Harburn and Vincent Chevance from French rival BNP. The pair now serve as global head of…
Nymex and Shanghai Futures Exchange look to work together
The New York Mercantile Exchange (Nymex) and the Shanghai Futures Exchange (SHFE) have signed a memorandum of understanding to explore potential areas of cooperation which they say could mutually benefit the memberships of both exchanges.
EnergyCurves to market North American energy data
Four energy brokers have formed a Houston-based company called EnergyCurves to provide North American power and gas data services to the energy markets. The initial EnergyCurves products will be forward price curves for the North American gas and power…
Bright future for weather derivatives, finds survey
Energy Risk has completed its inaugural weather derivatives survey and the results show that traders appear to be confident about the state of their business, despite high profile exits from the industry in recent years.
Following the trend
The analysis of historical meterological data is vital for structuring weatherderivatives. But how should weather traders deal with the trends that may existsin the data? Steve Jewson and JeremyPenzer investigate
Weather wrap-up
Energy Risk’s inaugural weather derivatives survey shows that traders and end-users appearto be confident about the state of their business, despite high-profile exitsfrom the industry in recent years. Paul Lyon analyses the results
Accepting responsibility
Alex Schippers heads ABN Amro’s weather team – arguably one of the most innovative desks in Europe. Here he talks to Paul Lyon about the state of the global weather risk market
Raining information
Weather data is becoming increasingly accessible and more detailed, and – in Europe at least – publicly available data looks set to become less costly. Joe Marsh reports oncurrent developments in the weather risk market
PSEG sets up weather desk
New Jersey-based utility Public Service Enterprise Group (PSEG) has established a weather derivatives desk. The desk is headed by Roman Kosecki.