Policy risk
To build or not to build
Europe needs more power. But a lack of clear pricing signals and the unknown impact of new environmental legislation is making risk forecasting difficult, and could hinder new plant construction
Off to a flying start
Aviation is one of the fastest growing sectors in terms of carbon emissions, but a move by the European Commission to include airlines in the EU's Emissions Trading Scheme has alarmed some in the industry
Regulating Germany
Matthias Kurth was appointed Germany's first energy regulator in June of this year. The decisions he makes as the new Federal Network Agency president will be felt throughout European energy markets. He speaks to Oliver Holtaway
Don’t blame Opec
As well as urging Opec to open up international access to its reserves, politicians in large oil-consuming nations should be encouraging investment in new refinery capacity, writes David Hufton
A glimpse of freedom
Merger and acquisition activity in the US utility sector, previously kept in check by the Public Utility Holding Company Act, could be set to swell with the repeal of this act in February, some analysts believe. By Oliver Holtaway
Exceptions to the rule
Norwegian independent power portfolio managers are concerned that an impending EU directive may split the country’s power market and put them at a disadvantage. Oliver Holtaway reports from Oslo
The scandal in Sudan
A fragile peace may at last have come to Sudan after 21years of civil war, but a bitter and unresolved dispute over oil exploration acreage in the south of the country couldendanger that peace. Report by Maria Kielmas
Blowing hot and cold
Across Europe, government enthusiasm and support for wind energy will dictate the ability for wind project sponsors to refinance project loans via the bond market. Jan Willem Plantagie of Standard & Poor’s explains
Pipelines and politics
The latest in a long line of disputes over natural gas supplies from Russia is raising concern among utility customers and investors that future supplies to the West may be disrupted. But is this a long-term problem? Oliver Holtaway reports
Regulation tops risk managers’ concerns
Regulatory risk is seen as the most significant threat to business and a greater source of concern than country risk, market and credit risk, terrorism and natural disasters, a recent survey reveals.
A calculated gamble
After a promising start, Canadian carbon trading has slowed. The country has much work to do if it wants to get a domestic greenhouse-gas trading market running ahead of the 2008 Kyoto deadline. By Catherine Lacoursiere
European Commission to examine energy-sector competition
The European Commission (EC) today launched an inquiry into competition in natural gas and electricity markets, in response to concerns from consumers and new market entrants about the development of wholesale markets and limited consumer choice.
Sharon Brown-Hruska
The CFTC’s Sharon Brown-Hruska believes in minimal market interference, even, as she tells Joe Marsh , when it comes to hedge funds
Standard challenges
Early signs suggest European energy companies may, like their US counterparts,have problems complying with a new derivatives-accounting standard. But theydo have newguidelines to help interpret the rules. By Joe Marsh
Broken promises
Asian countries are now a power in the world’s energy markets, but governmentinterference in tariff structures and shaky sovereign guarantees mean regulatoryrisks forinvestors remain. By Maria Kielmas
An energetic debate
Enterprise-wide risk measurement and management, regulatory issues and pricing and hedging strategies were the hot topics this year at Energy Risk Europe in Amsterdam. James Ockenden and Joe Marsh report
Both sides of the fence
Ernst Eberlein and Gerhard Stahl analyse price series of 25 energy spotrates simultaneously using Lévy models. This model class allows thecapture of stochastic behaviour of these financial instruments.Theimplications of this analysis will form the…
Turbulent times
The new Renewable Sources Act obliges German utility companies to buy all the wind power generated in the country on any one day. And it is adding a new volatility to the German power market. By Stella Farrington
Germany’s closed shop
Despite six years of liberalisation, Germany’s gas market is still virtually closed to outside competition. Writing from Germany, Stella Farrington looks at whether new regulation is finally about to bring change
Midwest power market to start on April 1
The US energy market regulator yesterday gave the Midwest Independent System Operator (Miso) the go-ahead to launch its wholesale energy market on April 1, after several delays.
Opec split over increasing oil production
Ministers of the Organisation of Petroleum Exporting Countries (Opec) arriving in the Iranian city of Esfahan Tuesday sent out mixed messages over the expected outcome of Wednesday’s meeting.
A bid for power
Clock auctions are a fairly recent method for utilities of procuring electricity from suppliers, but only New Jersey has an established process. Yet Ohio and Illinois are showing interest. Joe Marsh reports