Energy Markets: Introduction

Vincent Kaminski

Energy Markets is the first of two books aimed at providing a comprehensive, systematic and extensive review of these most complex and constantly evolving markets, markets which are critical to maintaining the standard of living achieved by highly developed societies, as well as the future fortunes of emerging economies. The objective of this introduction is to explain the scope, organisation and, most importantly, the philosophy behind the book – the product of over 25 years we have spent working in, or with, merchant energy companies and large financial institutions.

The topics covered in Energy Markets include:

• • the production, transportation, distribution and storage of different energy commodities, such as natural gas, crude oil and refined products, coal, electricity and certain types of environmental products (emission credits);

• • certain aspects of the laws and regulations affecting energy markets;

• • price formation and the price discovery process in the energy markets;