Market risk
Renewables risk derailing benefits of EU power integration
Renewable subsidies and capacity payments threaten to quell advantages brought about by European electricity market coupling, complain industry participants
Renewables subsidy shift brings opportunity for energy firms
Germany began encouraging renewable generators to directly market their own production in 2012, reflecting a trend of giving renewables greater exposure to wholesale markets across Europe. That could spell an opportunity for more well-established energy…
FTR underfunding leaves PJM power traders out of pocket
Energy firms in the eastern US are upset about the underfunding of financial transmission rights (FTRs) in the PJM power market, saying it has made FTRs useless as a hedging tool. But even though its price tag has exceeded $1 billion, the problem shows…
Renewables and power markets must be brought together
Fixed feed-in tariffs have produced heavy increases in the volume of electricity generated via renewables, but their continued existence diminishes the strength of price signals in European power markets. Steffen Köhler puts forward a different approach
Looking back: Post-Enron nerves give way to longer-term fears
By January 2002 – just one month after US energy giant Enron filed for bankruptcy – the more lasting implications were becoming clear in the pages of Energy Risk
Morgan Stanley reshuffles oil liquids business amid Rosneft acquisition
Morgan Stanley names commodities CRO Nancy King as head of oil liquids business, while promoting former deputy Brett Humphreys to post of commodities CRO
PetroChina recruits BAML natural gas trader
Rapidly growing US unit of Chinese state energy giant PetroChina expands into financial natural gas trading with new hire
Power trading firm blasts Ferc over manipulation probe
Ferc investigation triggers unusual public defence by obscure power trading firm
Banks welcome FCA focus on commodity trading houses
UK regulator right to question risk posed by commodity trading houses, bankers argue
More US oil producers hedging with non-WTI crudes
Increased volatility pushes oil producers to hedge with LLS, WCS and other regional crudes
Coal derivatives market fosters burning ambition
Increased attention from both traders and hedgers is providing a boost to the coal derivatives market, say participants, fuelling the success of the API 8 index linked to Chinese coal imports and stimulating further product development efforts elsewhere…
Coal derivatives market fired up by new participants
Commodity traders and physical producers move into coal derivatives as major banks retreat
Commodities investing is still fundamentally sound
Commodity investors may have had a bad year, but putting money into commodities of finite supply continues to makes sense
Global Advisors’ Masters looks ahead to commodity rebound
Daniel Masters, the former head of energy trading at JP Morgan and co-founder of hedge fund Global Advisors, has seen his share of ups and downs. Alexander Osipovich reports
Off-the-shelf ETRM software taking off, survey reveals
Off-the-shelf energy trading and risk management (ETRM) systems are more popular than ever before, according to Energy Risk’s annual software survey. However, companies say they still require significant customisation and rarely meet all their ETRM needs…
Enforcement director nominated for Ferc chair
Centrica hires Hess market risk director; Vattenfall names trading head; Gazprom recruits BAML power trader; Baltic Exchange names Singapore head; Mitsubishi UFJ in commodity retreat
Trade reporting special report
Derivatives trade reporting is mandatory in the US and Europe under Dodd-Frank and Emir rules. Energy Risk presents a special report
Platts shifts focus away from price reporting code
Price reporting agency says it intends to concentrate on complying with Iosco rules, leaving future of IPRO code in doubt
Fed probes catastrophic risks in bank physical commodity trading
The US Federal Reserve has moved to tighten the rules on physical commodity trading by banks, citing fears they might suffer huge losses as a result of an environmental disaster. How valid are such concerns and what steps is the Fed likely to take?…
Oil benchmarks need reform, says Vitol's Taylor
Oil industry needs to make issue of dwindling benchmark production a top priority, says Vitol chief
A can-do attitude
Axpo Trading & Sales aims to optimise the production of Switzerland-based utility Axpo, but is increasingly offering the same service to external clients, including renewable generators. Energy Risk talks to Domenico De Luca, head of international…
Emir reporting date sparks 'mad rush' in energy derivatives market
A requirement to report trades under the European Market Infrastructure Regulation kicked in on February 12, creating a rush to comply among energy derivatives market participants. Some firms have struggled with the rules, and say a lack of support from…
Commodities investing down but not out, Masters says
Global Advisors co-founder believes short-term woes will give way to long-term rally
Energy firms' systems not ready for regulation, survey finds
ETRM systems are ill-prepared for financial and energy market regulation, according to Energy Risk survey