Natural gas
CFTC quietly amassing data on natural gas swaps
Numerous energy companies have received special calls from the CFTC in the past year, say lawyers, but the reasons for the agency's interest remain murky
Power companies slam New England reliability plan
Electricity companies are criticising "unreasonable" and "discriminatory" measures designed to keep New England's lights on during the coming winter, arguing in favour of a longer-term fix
US utilities invest in shale gas wells as long-term hedges
Florida Power & Light becomes latest US utility to pursue acquisition of natural gas production assets as risk management strategy
John Arnold looks back at 17 years of energy trading
In an exclusive interview, John Arnold talks to Alexander Osipovich about the extraordinary success of his former hedge fund, Centaurus Advisors, the difficulty of hiring good traders and why he walked away from energy trading after 17 years
EC's Ristori worries about energy security post-Ukraine
The EC's director-general for energy expresses fears about Europe's continued reliance on Russia for energy imports amid the crisis in Ukraine, in an exclusive interview with Energy Risk
EC's Ristori takes on Ukraine, subsidies and EU integration
Dominique Ristori was appointed as EC director-general for energy earlier this year. In an exclusive interview, he speaks to Mark Pengelly about energy security in the wake of Ukraine, European integration, energy subsidies and the development of shale…
EU consultation provokes debate on future of energy market
On June 16, the Agency for the Cooperation of Energy Regulators closed a consultation on the future of the EU energy market. The document’s wide-ranging proposals have been met with a mixed reaction from regulators and market participants. Gillian Carr…
Oil benchmarks should diverge in coming year, says BAML’s Blanch
A spike in North American oil production and seasonal changes in demand should see WTI fall sharply later this year – a contrast with Brent, which is exceptionally stable, says BAML global head of commodities research in an exclusive video
Mexican energy regulator looks ahead to greater integration with US
Mexico’s programme of energy market reform will lead to greater integration between the north of the country and neighbouring US states, such as Texas and California, says energy regulator in an exclusive video
Natural Gas House of the Year: Koch Supply & Trading
With a swift launch in European gas and global LNG, oil heavyweight Koch Supply & Trading becomes a global player in natural gas
European gas hubs stand to benefit from crisis in Ukraine
Escalating tensions between Russia and the West over Ukraine have taken energy market participants by surprise. With the potential for tougher sanctions, industry observers believe one outcome could be an acceleration of Europe's shift away from oil…
CFTC accord bolsters Ferc drive to catch manipulation
Memorandum of Understanding with US Commodity Futures Trading Commission on information sharing has been "extremely useful" for energy regulator, says Federal Energy Regulatory Commission's deputy director of surveillance
Looking back: Nymex moves into ‘classy’ new headquarters
CME Group’s Nymex trading floor is now sparsely populated, but back in 1997, the exchange was in urgent need of additional capacity, as Energy Risk reported in May that year
TXU bankruptcy holds lessons for risk managers
The bankruptcy of Energy Future Holdings – formerly known as TXU – should act as a warning to risk managers, who must be alert to excessive self-confidence and a failure to deal with unpleasant or inconvenient facts, argues Vincent Kaminski
Energy market has bright future, despite bad news
Energy risk management has come a long way and is serving up unparalleled opportunities, despite poor liquidity and a retreat by banks
Dynegy founder Watson recalls dawn of deregulation
Dynegy founder Chuck Watson talks to Alexander Osipovich about the dawn of deregulation, the fall of Enron and what it takes to be a successful entrepreneur
There is plenty of life left in US natural gas
Sluggish prices and low volatility have provided US natural gas traders with few opportunities for trading profits in recent years. But as the past winter shows, it’s too early for them to switch off their computers and retire to the golf course, writes…
Energy firms beg CFTC for clarity on commodity options
Utilities, oil producers and trading firms are urging the CFTC to issue clarification on contracts with embedded volumetric optionality
Conference highlights questions over Remit implementation
Problems encountered by Emir demonstrate issues that need to be solved before Remit reporting begins, argue attendees at Energy Risk Italia
Polar vortex revives interest in gas and power hedging
A brutally cold winter in the eastern US has roiled natural gas and power markets and shocked energy consumers that had grown accustomed to cheap, abundant shale gas. Such firms are now hedging more actively, Alexander Osipovich finds
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
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
US power firms slam ISO New England over market ‘flaws’
Winter reliability at risk due to problems with real-time pricing, market participants warn
Cutting edge: Valuation and optimal hedging of storage contracts in incomplete gas markets
In this paper, Magnus Wobben, Tilman Huhne, Yuri Ivanov and Sebastian Hanneken examine the impact of market incompleteness on the valuation of gas storage contracts. In contrast to prior research, their proposed valuation framework accounts for the…