Physical climate risk
When climate risk starts to bite
Energy firms under increased pressure to assess physical climate risk
French power supply problems could hit UK
Unusually high temperatures last month put a third of France's nuclear power stations out of action, forcing the country to import electricity from the UK. According to Chris Bowden, CEO of energy and carbon advisors Utilyx, the UK may face similar…
Pockets of growth for weather derivatives sector
While activity in the general weather risk market declined in 2008/2009, Asian and European markets showed growth, according to the Weather Risk Management Association (WRMA).
Brokerage launches online catastrophe price index
Willis Re, the reinsurance arm of global broker Willis Group Holdings, and Thomson Reuters have today launched the Willis Re Catastrophe Price Index.
CME acquires hurricane index
CME Group has acquired the Carvill Hurricane Index from Carvill America Inc. and renamed it the CME Hurricane Index.
Weather and force majeure - Force majeure provisions for power contracts
Hurricane Ike left many wholesale power purchasers facing serious financial losses if they could not invoke the force majeure clause in their contracts. Stan Jensen and Jonathan Hoff of Bracewell & Giuliani discuss different elements of force majeure…
CME launches weather contracts for Australia
CME Group is expanding its suite of temperature-based weather derivatives products to include Australian cities Melbourne, Sydney and Brisbane.
EDF meeting record French power demand
French utility EDF has brought "almost all" of its available generation capacity online to cope with record power demand highs driven by freezing temperatures, the company said today.
RTS to launch power and weather futures
The futures and options wing of Moscow-based stock exchange Russian Trading System, RTS-FORTS, is planning to launch electricity and weather futures contracts in 2009.
Every cloud...
The weather derivatives marketcontinues to gain end-user, hedge fundand investor interest. Roderick Bruceexamines the forecast and finds a silverlining on the current Wall Street cloud
Gulf Coast refineries resuming output at reduced rate
Many US Gulf Coast refineries which shut ahead of Hurricane Ike should be operating within a week following site damage reports, according to a Platts report.
Almost 1.3 MBD US Gulf oil output still down
Some 99.6% of the US Gulf of Mexico’s oil output of 1.3 million barrels a day remained down Sunday, according to the US Minerals Management Service (MMS), following hurricane Ike which hit the Houston area on Saturday.
Evolution launches catastrophe derivatives division
Environmental brokerage firm Evolution Markets has introduced a brokerage and transaction service to focus on the catastrophe derivatives market.
Uncharted territory
As crude oil prices soar, the coming hurricane season looks set to add yet more complexity to US airlines’ dynamic hedging programmes. Catherine Lacoursière reports
Marty Malinow
Newly crowned WRMA president Marty Malinow tells David Watkins that there's fewer than six degrees of separation between life, business and the weather markets
TFS Energy completes $50 million weather auction
A $50 million Dutch auction has been completed by interdealer broker TFS Energy’s US weather derivatives division.
More than 50% of US companies unprepared for weather risk: report
Results of a survey carried out by CME Group, the world's largest derivatives exchange, and weather risk management originator Storm Exchange, have found that 51% of senior finance and risk managers concede that they are under prepared to cope with…
TFS Energy hosts first Italian weather derivatives trade and Dutch auction
Interdealer broker TFS Energy has completed the first Dutch auction of weather derivatives in Rome, Italy.