Policy risk
A plea for certainty in regulation
Clear and unambiguous rules have the potential to satisfy advocates of sterner regulation, as well as regulated firms
Stadtwerke München grapples with regulation and risk management
At Stadtwerke München, one of Germany’s largest municipal utilities, many of the issues facing risk management are different from those affecting big commercial energy firms. But concerns about the impact of financial regulation run just as high. Mark…
Dodd-Frank commodity option rules sow confusion among energy firms
Confusion over CFTC rules is tying US energy firms in knots, as they struggle to determine whether their physically settled commodity options need to comply with critical rules issued under the US Dodd-Frank Act. Alexander Osipovich reports
Energy Risk Europe: Ofgem outlines UK power market changes
Ofgem senior economist makes case for power market reform and details proposals to alter balancing arrangements
Energy Risk Europe: Good times over for Europe's traders, says RWE's Krebber
Strain caused by regulation and renewables means European energy traders must adapt to survive, says RWE Supply & Trading CFO
Energy Risk Europe: Commodity derivatives rules flawed, says SEB’s Iwarson
Derivatives regulation will impede attempts by banks to compete and do lasting damage to European market, says founder of SEB’s commodity business
Energy trading firms unprepared for Emir and Remit, poll finds
Many energy market participants are worryingly unprepared for Emir and Remit, according to a recent poll by Energy Risk
EU ETS fix should focus on long term, argue market participants
Short-term fixes give rise to uncertainty, in contrast to long-term change needed to rescue the ETS, say firms
Banks’ physical commodity trading comes under scrutiny
Amid a review of a 2003 determination by the Federal Reserve, the involvement of US banks in physical commodities has come under fire from regulators, politicians and the media. Could they really be forced to exit physical trading? Alexander Osipovich…
Energy firms find Emir thresholds too close for comfort
The European Market Infrastructure Regulation will force non-financial counterparties to clear trades in over-the-counter derivatives once they reach a set of notional thresholds. And despite their original expectations, many energy companies could be…
EPA rules may create new opportunities for US carbon traders
The US government is planning to use the Environmental Protection Agency to combat climate change, in a move that could create new opportunities for carbon traders, according to lawyers and analysts. Alexander Osipovich reports
Energy traders lag on post-trade processing, survey finds
Baringa Partners survey suggests firms may struggle to cope with European financial regulation
Energy end-users may miss Dodd-Frank reporting deadline
Energy derivatives end-users face uphill struggle to comply with reporting rules when no-action relief expires
Trade repositories eye Remit opportunity
Entities backing trade repositories for OTC derivatives show interest in registering as RRMs
European regulators get to grips with Remit monitoring
By mid-2014, the Regulation on Wholesale Energy Market Integrity and Transparency is expected to see European energy market participants reporting masses of information about their trading activity to regulators. How do regulators intend to use this data…
Ferc targets power market gaming with JP Morgan fine
Record $410 million settlement demonstrates zero-tolerance approach towards exploitation of market design flaws
Bank physical commodity trading attacked in US Senate hearing
Physical trading by banks said to inflate commodity prices, increase systemic risk and threaten shortage of beer cans
European power and gas liquidity hit by Mifid II fears
European energy traders say worries about the impact of Mifid II are chilling activity in longer-dated power and gas
Firms seen upping surveillance and self-reporting after Ferc fines
Ferc penalties against Barclays and other banks expected to bolster compliance with market manipulation rules
Bribery laws pose compliance challenge for energy firms
Oil and gas firms still face compliance challenge from anti-bribery laws, despite court judgement against Dodd-Frank disclosure rules
Europe's carbon market begins long road to recovery
A critical July 3 vote in the European Parliament has brought the world's largest carbon market back from the brink of collapse. But participants say structural reform remains necessary to secure its future – and this is a long way off. Mark Nicholls…
Uncertainty rules in Australian electricity derivatives market
Australia's electricity derivatives market had been picking up since the global financial crisis, but volumes have declined in recent years. Firms blame the slowdown on a combination of slim trading opportunities and uncertainty over plans to curb…
BP registers as swap dealer
BP registers its US-based energy trading subsidiary as a swap dealer, becoming the first oil and gas major to opt for dealer status under Dodd-Frank
Power proves a tough choice for Australian regulators
Supervisors must decide whether to include electricity in derivatives reform despite high prices and industry opposition