Natural gas
‘Wrong type of liquidity’ spells trouble for energy hedges
Cyclical lull conceals structural shift as liquidity becomes shorter-dated and more flighty
Asia energy dealer of the year: BP
BP restructures long-dated hedge for commercial player
Natural gas house of the year: BP
Physical and financial capabilities give BP unique ability to provide long-dated consumer hedges
Technology advisory house of the year: Accenture
Consulting giant boosts energy markets expertise with Structure deal
Citadel builds physical gas trading business
Hedge fund’s foray into gas follows bank retreat from physical commodities
Spot market for Asian LNG gaining momentum, traders say
Changing market fundamentals are expected to transform the way LNG is traded in Asia in the next several years, fuelling the emergence of a regional spot index and derivatives market
SGX hopes to shake up LNG market with new index
Asian LNG traders voice cautious optimism about ‘Singapore Sling’ spot-market index and derivatives contracts
Florida utilities’ $6bn hedging loss spurs public backlash
Firms face heat over out-of-the-money natural gas hedge transactions
Energy Risk Commodity Rankings 2016: Rise of the non-banks
Non-banks such as BP and Axpo Trading make a strong showing in Energy Risk’s latest Commodity Rankings, but Societe Generale takes the top spot again as best overall dealer
Bank exits from commodity trading hurt US power firms
US power companies are facing worse liquidity, increased hedging costs and a tougher time managing certain kinds of risks as a result of the exodus of banks from commodities trading
In manipulation cases, "everybody's doing it" is no excuse
From the natural gas index scandal of the early 2000s to the Libor-rigging cases of today, it's always the junior employees who go to jail while bosses walk, Vincent Kaminski observes
Revenue put options gain popularity in US power markets
Dealers, led by Morgan Stanley, have made revenue put options an increasingly popular hedging tool with US electricity firms seeking to build new power plants. But some observers warn that the largely untested product contains risks for dealers and their…
End-user hedging: FMC’s natural gas hedges show benefits of OTC trading
Using a case study of Philadelphia-based FMC Corporation’s natural gas hedges, Ivilina Popova of Texas State University and Betty Simkins of Oklahoma State University show that over-the-counter derivatives are more efficient and effective compared with…
Singapore power and LNG ambitions face challenges
Singapore is seeking to supplement its position as Asia's oil trading powerhouse by promoting itself as a regional hub for power and liquefied natural gas. While these ambitions have met with modest success, they also face major challenges
US gas price reporting drop raises questions about indexes
Jitters about regulatory risk have caused a growing number of energy firms to stop reporting their US natural gas trades to Platts and other index publishers. As reported transaction volumes fall, can the indexes still be trusted?
Fall in US gas hub liquidity hampers derivatives market
Surging shale gas production in the northeast US has undermined Platts’ Gulf Coast indexes and derivatives contracts that rely on them
Direct Energy CFO sees change as the only constant
Andrew Sunderman, the chief financial officer of US energy retailer Direct Energy, has seen it all - financial crises, market meltdowns and political upheaval in Africa
Infrastructure funds focus on de-risking energy investments
As energy companies face a tough time gaining access to capital, a growing number of them have found relief from infrastructure funds and other investors keen to snap up low-risk, low-yielding assets. Three such investors outline their approach
Video: E.on Global Commodities CRO David Port
Port comments on how risk management will be affected by Uniper spin-off
Video: Uwe Schulz, CRO of RWE Supply & Trading
Schulz speaks about threats and opportunities facing European utilities
Video: Alberto Pototschnig, director of Acer
Acer director talks about progress on Remit and power market coupling
Video: Centrica chief risk officer Olivier Herbelot
Herbelot discusses how the UK power and gas giant manages its risk
Energy firms concerned by Mifid II ‘ability test’
The definition of a financial instrument under Mifid II and the structure of two key exemptions are worrying energy trading firms such as utilities
Energy market liquidity faces threat from regulation
Financial reforms such as Mifid II could undermine years of progress by governments, regulators and industry aimed at building liquid and transparent European energy markets