Regulation
Morgan Stanley back trading in Platts oil window
Platts has confirmed that Morgan Stanley has resumed trading in its Asia oil window for the first time since September, indicating that credit issues surrounding the bank, and the wider markets, may be improving.
Exelon bid rejected
NRG Energy has rejected Exelon Corporation’s unsolicited merger offer made on 19 October 2008, claiming it “significantly undervalues” the firm.
Derivatives loss impacts on Reliant’s Q3 results
Reliant Energy has announced a third quarter net loss of $1.04bn, due to unrealised losses of $1.69bn on energy derivatives.
Energy sector rivals banking for big bonuses
No longer banking’s poor relation, the energy sector is looking increasingly attractive to job seekers as salaries have increased by 12% and average bonuses have risen by a record 21% in 2008, according to consultancy group GRS.
Renewables call for transmission build
Many US states have ambitious renewable energy targets, but billions need to be spent on transmission infrastructure if this new power is to come on line. Susan Arterian Chang looks at the challenges involved in creating the interstate transmission…
EU aviation emission targets seen too low; reviewed 2013
The Justice and Home Affairs Council of the European Union has announced that aviation will be included in the Emissions Trading Scheme (ETS) from 1 January 2012, following a meeting in Luxembourg on October 24.
FCStone to post bad debt provision
FCStone Group, an integrated commodity risk management company, has announced it expects to incur a pre-tax bad debt provision of up to $25m due to losses by three domestic accounts, including an energy trading account.
Energy traders clash with regulators
In the wake of the credit crunch, energy trading executives have clashed with regulators over the potential imposition of what they see as onerous trade data reporting obligations.
Close of Constellation credit facility extended
Constellation Energy’s credit facility with UBS and RBS will now close on 26 November 2008 with commitments from the banks expected to total between $1bn and $1.25bn.
Exelon proposes NRG merger
Exelon Corporation has announced details of a $6.2bn proposal to acquire NRG Energy, a merger that would create the largest US power company in terms of assets, market capitalisation, enterprise value and generating capacity.
UBS to remain trading on LME
Contrary to media reports, investment bank UBS will continue to trade on the London Metal Exchange (LME), a spokesperson from UBS has confirmed. However, the investment bank will no longer act as a market maker for the LME, according to the UBS…
ETRM evolution
As energy trading and risk management systems become increasingly sophisticated, Rana Basu of TradeCapture looks at what users need to consider as they progress from implementing and using the most basic to the most complex systems
Turkey's political pipelines
Turkey's strategic position at the crossroads of East and West has put it at the centre of a geopolitical tug-of-war, with energy supply a key driver. Robert Amsterdam examines the energy policies being brought to bear in the region
Funds warn against stifling trade
Recent moves to increase regulation in oil markets are stifling trade and won't bring down prices, warn fund managers
Safe to come out?
As energy traders take stock after the unprecedented market turmoil of September, the Energy Risk team asks a range of key players what effects they expect the investment banking crisis to have on commodities trading and risk management
Transparency act remains unclear
Proposed legistlation on US energy market regulation is causing concern amongst traders finds Pauline McCallion
EU Commits €10 billion for carbon capture storage
The Environment Committee of the European Parliament voted yesterday in favour of introducing new carbon capture and storage technology (CCS) for large power stations built from 2015 onwards.
CFTC to examine crude oil volatility
Record price movements in the price of crude oil earlier this week have drawn further scrutiny from regulators.
Goldman and Morgan become bank holding companies
Goldman Sachs and Morgan Stanley have applied to the US Federal Reserve to become bank holding companies, in response to the crisis that has seen the bankruptcy of Lehman Brothers and the acquisition of Merrill Lynch by Bank of America.
CFTC report on swap dealer and index trader activity
Following an unprecedented survey of off-exchange swap dealers and commodity index funds carried out in June 2008, the Commodity Futures Trading Commission has made some recommendations on activities of swap dealers and commodity index traders.
RGGI futures competition hots up
As the fledgling US Regional Greenhouse Gas Initiative finds its feet, is there sufficient liquidity for two exchange-traded futures contracts? Katie Holliday finds out. Additional reporting by Roderick Bruce