Market risk
US Senate rejects energyderivatives legislation
Energy traders applauded the Senate’s decision in November to veto proposed legislation that would place stricter controls on derivatives trading. By Paul Lyon
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
Open for business
The Russian government has taken the first steps toward the deregulation of its gas and power markets, and despite recent the high-profile Yukos scandal, investors are eyeing up some interesting opportunities. By Paul Lyon
Contract killing
The California Public Utilities Commission wants to renegotiate long-term contractsthe Department of Water Resources entered into during the state’s energycrisis. So far, Ferc has been less than receptive to the request. By Paul Lyon
Nuclear renaissance
Both Canadian and US governments want to bring more nuclear power capacity online, but will the private investors come? By Catherine Lacoursière
Life without MTBE
The changeover from the use of MTBE as a gasoline blending component, to ethanol,in New York State and Connecticut on January 1, 2004 is likely to lead to pricevolatility in the oil market and make risk management using the Nymex Unleadedcontract far…
Back to basics
Correlation and volatility methods are accepted ways of measuring risk. But areview of the underlying assumptions underlying the statistics used for risk management can identify areas where errors can occur, says Brett Humphreys
Winter of content
Some forecasters are warning of a volatile winter in Europe and the US, whichmeans fluctuating demand for fuel over the coming months. Weather derivativestraders are hopeful of an upturn in business. By Paul Lyon
Bound by the rules
In his last day in office, Governor Gray Davis announced the Californian energy crisis was over. Revelations from indicted traders, and the punishments doled out to them, will have a profound effect on how the market moves forward. By Catherine…
Searching for sellers in 2003
High volatility and rising prices in 2003 clearly above fundamental levels signal the need for improved guidelines from legislative institutions andeasily accessible information
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
Koch smooths volatile waters
Koch has marketed the first energy volatility swap in a deal with hedge fund Centaurus, a move the oil trader hopes will increase its share in options marketsand attract more hedge funds to the energy business. JamesOckenden reports
A dark futurefor clearing
Clearing was the energy buzz word of early 2003. But as Clearing Bank Hannover goes into liquidation and the future of EnergyClear’s business remains uncertain, it seems energy clearing has lost its appeal. By Paul Lyon
JP Morgan Chase plans electricity trading foray
JP Morgan Chase is planning to enter power trading, just as the US energy regulator overturns its onerous stock-holding limit rule. PaulLyon reports
Blackouts spark supply debate
The world’s energy regulators met in Rome last month, days after the Italian blackout on September 28. Perfect timing, it would seem – but what are the regulators going to do about Europe’s bottlenecked grid? Paul Lyon reports
A slow recovery
Recent research carried out by Fitch Ratings says the energy merchant sector has made great strides towards solving its near-term liquidity woes. But there is much work still to be done, finds Paul Lyon
