Operational risk
The rise of the money men
Wanted: company to trade power in the US. Strong credit, trading expertise and appetite for risk required. Only banks need apply? By Kevin Foster
After the swashbucklers
Oil exploration today is about taking as few risks as possible, meaning the smaller independent firms are losing out to the energy majors, as Maria Kielmas discovers
The price of good information
The accounting scandals across the US – particularly at Enron – have led to demands for more independent market data in the energy sector. Who’s providing it, and is it meeting the industry’s needs? Kevin Foster reports
Keeping an eye on the long-term
Brett Humphreys discusses the problems with standard credit risk limits and proposes limits that may work better
Var too far
The energy industry has shown tremendous commitment to value-at-risk (Var) methodologies. But use of Var has been misguided, as James Ockenden discovers
Online trading moves forward
Online energy trading seems to have a bright future, despite the two biggest players – Dynegy Direct and EnronOnline – leaving the market, finds Catherine Lacoursière
Let’s get physical
Credit Lyonnais Rouse Derivatives is a commodity trader moving into natural gas trading. And not just on the financial side, as Joel Hanley discovers
Aquila’s troubles could break emerging markets risk
Confusion at the weather derivatives operations of energy giant Aquila is having a knock-on impact on the development of weather products in emerging markets around the world. Paul Lyon reports
In the mind of a trader
Use of psychological techniques and behavioural studies is an essential part of designing aircraft cockpits. The same principles are now being applied to energy trading screens, as James Ockenden discovers
Trouble at the paper mill
Maria Kielmas asks how energy users in Scandinavia are coping with medium-term price uncertainties and the threat of increased environmental legislation
A tight ship in rough waters
Power prices in the UK have fallen dramatically in recent months. What can the UK’s biggest power producer do to prevent more losses in this difficult market? Joel Hanley profiles British Energy
A new cop on the beat?
The Federal Energy Regulatory Commission has been severely criticised for its actions – or lack of them – during California’s disastrous attempt at deregulation. It is now hitting back at the energy industry. Kevin Foster reports
Energy trading primer
Chris Bowden says large industrial and commercial buyers could learn from energy traders’ experiences in dealing with volatile energy markets
Softly, softly in the western US
Wary Californian power traders have reverted to tried-and-tested trading strategies. But, asks Catherine Lacoursière, will the new, apparently stable market hold up to another long hot summer?
What’s the worst that could happen?
Brett Humphreys discusses how using a standard credit value-at-risk measure may be misleading for credit risk decisions
Getting technical with crude
Energy market specialist GlobalView Software takes a look at a range of technical trading indicators and what they reveal about the world oil market
Brent’s liquidity crisis
The decision by energy information provider Platts to alter the definition of its Brent benchmark price has forced the issue over the crude blend’s liquidity problems, reports Matt Horsbrugh
TXU finds the right combination
Kevin Foster looks at the reasons behind TXU Energy’s choice of Knowmadic’s Integration Suite data management software, and at the product’s features