Regulation
Bid to close Enron loophole
Legislation aimed at preventing price manipulation and excessive speculation in energy markets has been introduced to the US Senate, writes David Watkins
Concerns abound over EC energy package
The EC's third energy package, which recommends that generators and suppliers sell off their transmission assets, has met with resistance from incumbent utilities and raised questions among traders. Oliver Holtaway reports
Onward with offsets
Awareness of the effect of carbon emissions on climate change has driven growth in the market for voluntary carbon offsets. So who is getting involved, and why? Roderick Bruce finds out
EC energy package meets mixed response
The EC’s third package of EU energy market liberalisation measures has stopped short of insisting on full ownership unbundling of transmission infrastructure from generation and supply assets, and of creating a fully-fledged European energy regulator.
Bid to close Enron loophole
Legislation aimed at preventing price manipulation and excessive speculation in energy markets has been introduced to the US Senate
AES wind power blows into China
Global power company AES has announced plans to expand its wind generation business into China through the creation of a joint venture with renewable energy producer Guohua Energy Investment.
Evolution expands into global merchant banking
Evolution Markets Financial Services, a subsidiary of environmental market brokerage Evolution Markets, is set to expand its range of activities across global merchant banking within the environmental, energy and clean energy sectors.
Court of appeals rules in favor of Ice in Nymex litigation
The United States Court of Appeals for the Second Circuit has ruled in favour of IntercontinentalExchange in its long-running litigation with the New York Mercantile Exchange (Nymex) over the right of market participants to use Nymex settlement prices.
White House pushes for futures fees
The Bush Administration has requested that the House of Representatives approve a proposed transaction fee on futures and options contracts.
Reports fuel supply fears
Upwardly revised oil price forecasts and recent reports from the International Energy Agency and the US National Petroleum Council point to growing unease about global energy supplies, writes David Watkins
CFTC: Amaranth manipulated gas prices
US futures market regulator alleges that the defunct hedge fund sought to influence the settlement price of Nymex natural gas futures by selling heavily during the closing range. David Watkins reports
“Enron Loophole” will soon be closed: Levin
Senator Carl Levin, who chairs the US Senate's permanent subcommittee on investigations, has said that he will soon introduce legislation that will increase regulatory scrutiny of the over-the-counter (OTC) markets.
Amaranth manipulated gas prices: CFTC
The US Commodity Futures Trading Commission has charged failed hedge fund Amaranth Advisors and its former head trader, Brian Hunter, with trying to manipulate natural gas futures prices.
Nymex calls for full ICE regulation
The New York Mercantile Exchange (Nymex) has called for full regulation of its Atlanta-based rival IntercontinentalExchange (ICE) following a federal report which said that the current jurisdiction of federal regulators is not wide-ranging enough.
Sempra Energy to partner with Royal Bank of Scotland
Sempra Energy today announced that it will form a joint venture with the Royal Bank of Scotland (RBS) to significantly expand Sempra Energy’s commodity-marketing business.
Amaranth report to ring changes
Release of report into collapse of energy hedge fund Amaranth Advisors looks set to change the way OTC markets operate in the US
Renewed interest
Green certificate trading is growing in Europe, as renewable power generators seek to exploit consumer demand for green energy. But market design could be improved, as Oliver Holtaway reports
Full steam ahead for FFAs
The freight derivatives market has attracted an influx of new players recently thanks to the spread of clearing. With more banks and hedge funds poised to enter, Roderick Bruce looks at what opportunities the market offers and how it needs to develop next
Up in the air
Rising wind power prices are encouraging US producers to turn to the short-term and spot electricity markets. Increasingly sophisticated risk management techniques may follow. David Watkins reports
Amaranth trades “altered natural gas prices.”
Energy hedge fund Amaranth Advisors exploited legal loopholes and altered natural gas prices through “excessive speculation” before its 2006 implosion, a US senate investigation has found.
Mixed motives as ICE buys Canadian exchange
IntercontinentalExchange (ICE), the electronic energy and soft commodity bourse, has entered into an agreement to purchase Winnipeg Commodity Exchange (WCE), Canada’s main agricultural commodity futures and options exchange and home to the world’s…
FSA grants CME right to provide clearing in UK
The UK’s Financial Services Authority (FSA) has granted the Chicago Mercantile Exchange (CME) the status of a recognised overseas clearing house (ROCH), enabling the exchange to provide global clearing services to market participants in the UK.