Operational risk
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…
User Choice winners revealed
Energy Risk's first User Choice Awards have been a tremendous success, with over 450 valid votes showing which vendors and data providers are the preferred suppliers to the energy industry in 2004.
Alliant to sell utility businesses
Wisconsin-based Alliant Energy Corp says it intends to sell its two utility businesses in Illinois because of the challenge of operating them in a cost-effective manner.
RWE Trading names Senior replacement
Brian Senior, Swindon-based managing director and head of UK energy at RWE Trading, will step down at the end of the year, and Peter Kreuzberg, head of risk management at parent company RWE, will replace him.
Singing in the rain
Melbourne-based Southern Hydro Partnership signed its first precipitation hedgelast year – a landmark deal that paved the way for a number of other contractsto protect itself from the risk of low rainfall. Paul Lyon reports
Former Enron executive pleads guilty
John Forney, a former Enron executive, yesterday pleaded guilty toone count of conspiracy to commit wire fraud for the purpose of manipulatingCalifornia's electricity market during the 2000-2001 Westernenergy crisis, the US Attorney's Office for the…
All systems go
More than 450 of you voted and voiced your concerns in Energy Risk’s inaugural User Choice Awards. Below we show which suppliers you voted for as top of their field in the energy business this year
Huberator’s hopes
APX and Fluxys subsidiary Huberator are planning to launch a gas exchange forthe Zeebrugge hub in early 2005. But is an exchange really needed by the tradingcommunity? Paul Lyon reports
US companies fined for sharing gas storage data
Three US energy companies are to pay penalties totalling $8.1 million for sharing natural gas storage inventory data with their customers and affiliates. This is the result of a settlement with US interstate energy regulator the Federal Energy Regulatory…
APGA supports Ferc decision to fine three companies
The American Public Gas Association (APGA) has applauded the US Federal Energy Regulatory Commission (Ferc) for its decision to fine three energy companies $8.1 million for sharing natural gas storage inventory data with their customers and affiliates. …
Vertical take-off
As UK supplier Centrica narrows its focus to fund an asset acquisition spree, James Ockenden finds the ‘asset-light’ utility model has finallybeen buried and a move towards ‘vertical integration’ is now thestrategy of choice
Shell agrees $150 million fine over reserves scandal, releases interim results
Royal Dutch/Shell Group looks set to pay $150 million in civil penalties and spend $5 million on developing an internal compliance programme, following its recent overstatement of reserves. The energy giant has agreed in principle with the UK Financial…
Evolution looks west with Unger
Evolution Markets is expanding to provide brokerage services to the California emissions trading markets. Leading the company’s efforts in San Francisco is Samantha Unger, one of the California emissions markets’ most experienced brokers.
US regulator doles out Enron fines
The US Commodity Futures Trading Commission (CFTC) has hit Enron and its former trader Hunter Shively with $35 million and $300,000 in civil fines respectively for gas price manipulation.
APX restructures and hires senior staff
APX Group, which provides exchanges for natural gas and power trading across northwest Europe, will move London-based power exchange UKPX’s forwards market onto its own system on August 18. The group has also made several senior appointments following…
Technology upload
There has been a recent upswing in the fortunes of energy risk software industry. And that is reflected in this year’s expanded technology vendor guide, making it the definitive guide to energy software and technology available
The troubleshooter
After struggling for a year with a difficult Triple Point installation, US energycompany Cinergy brought in energy IT veteran Joel McKnight. Nine months on, implementationand integration is complete. By Joe Marsh
King of convenience
The need for Sarbanes-Oxley certification has boosted sales of internet servicerisk systems, says web pioneer Martin Chavez of Kiodex. By James Ockenden
Bucking the trend
Openlink’s founder Coleman Fung talks to James Ockenden about the decisionsthat have promoted his company to one of the leading risk management solutionproviders
Energising Houston
Bear Stearns created its Houston-based energy group to acquire and optimise powergeneration assets in North America. And the business is going from strength tostrength, says its managing director Pamela Baden. PaulLyon reports
Getting physical
Abstract: Asset-backed trading strategies usually employ a combination of physicalpositions, which are subject to physical risk; and financial hedging intruments,which are not. Here, Steve Leppard shows how value-at-risk, applied to this combinedrisk…
Banking on energy
Banks keen to establish an energy trading presence are finding that partneringwith energy companies, or even acquiring trading businesses outright, could bethe way forward. Paul Lyon reports
Bank of America settles Enron case
Bank of America (BoA) has agreed to pay $69 million as part of an agreement to settle a class action lawsuit brought on behalf of purchasers of Enron securities and led by the Regents of the University of California (UC).
Canadian power utility selects SoftSmiths
Canadian utility Energie NB Power has signed up to use Houston-based SoftSmiths' Electronic Tagging Portal Suite (ETPS) and e-Link Integration solution to manage its energy delivery transactions.