Energy Risk
Brokerage launches environmental arm
Phoenix Partners Group, an interdealer credit and equity derivatives broker, has launched an environmental brokerage service for the worldwide renewable energy and emissions markets.
S&P GSCI Index Commodity Swaps to clear on CME ClearPort
Standard & Poor's has signed a licensing agreement with CME Group to clear swaps on the S&P GSCI Excess Return Index.
Scotia Capital acquires part of UBS Energy
Scotia Capital, a subsidiary of Scotiabank, today announced the acquisition of assets and employees from UBS Energy, a unit of UBS AG.
ICE offers margin offsets on coal and emissions contracts
ICE Futures Europe has introduced margin offsets between its Coal Futures and Emissions contracts.
Reliant sells Texas business to NRG and posts fourth quarter loss
In addition to the sale of its Texas retail business to NRG Energy for $287.5m, Reliant Energy has announced fourth quarter losses, including $177m from energy derivatives.
VTB Capital enters steam coal market
Russian bank VTB Capital has joined coal trading marketplace globalCOAL to develop its risk management operations in the Pacific region steam coal market.
Spectron begins brokering softs and ags
Interdealer broker Spectron has launched a soft commodities and agricultural products desk.
Obama calls for economy-wide carbon cap
President Barack Obama has indicated that the administration will work with Congress on cap-and-trade legislation in an effort to increase US energy independence.
Centrica invests in 60 bcf gas storage facility
British utility Centrica will develop the UK's second largest gas storage facility through the acquisition of a controlling interest in the Baird gas field project in the southern North Sea.
Uncertain outlook for US public power
Moody's has forecast a stable credit outlook for the US public power electric utility sector in 2009, but says the recession and environmental regulations could present challenges.
ICF offers risk management for energy companies
Consultant ICF International has announced that it will offer risk management services to the energy sector.
RWE restructures
RWE has announced plans to restructure its supply and distribution business in Germany and reorganise its ultra-high voltage grid as part of a €6.5 billion investment scheme.
FCStone Group increases bad debt provision for energy trading account
FCStone Group expects to incur an additional $60m to $80m pre-tax bad debt provision in connection with previously-reported losses on a significant energy trading account.
Global carbon trading to grow by 20% in 2009
The global carbon market will see a 20% boost in volume in 2009, according to the latest figures from Point Carbon.
Vattenfall to buy Nuon's production & supply business
Swedish energy company Vattenfall has made an all cash offer of €8.5 billion for 100% of the shares of Dutch company Nuon's production & supply business. Nuon's grid company is not involved in the transaction.
Enel to acquire Endesa for €11.1 billion
Italy's largest power company Enel has signed an €11.1 billion agreement with Spanish development company Acciona, for its 25.01% stake in Spanish power company Endesa.
JI finally accredits first third party verifier
The Kyoto Protocol's Joint Implementation (JI) mechanism has accredited its first third party verifier, TÜV SÜD Industrie Service, almost ten years after the UN-backed carbon offsetting mechanism was first agreed upon.
Eurex to launch commodity index futures in March
Eurex will be the first European exchange to offer trading in commodity index derivatives with the launch of four new contracts on March 30.
Deutsche Bank joins DME as clearing member
The Dubai Mercantile Exchange's membership committee has today approved Deutsche Bank as the 22nd clearing member of the exchange.
BarCap executes RGGI forward trade agreement
Barclays Capital today executed its first transactions on a forward trade agreement that includes provisions for US emissions allowances associated with the Regional Greenhouse Gas Initiative (RGGI), the first mandatory carbon cap-and-trade program in…
CFTC acts to shut out grain futures speculators
The US Commodity Futures Trading Commission (CFTC) has approved new rules designed to reduce distortions in the soft commodity futures markets caused by speculative activity.
Icap clears first ag swap through ICE
Interdealer broker Icap has executed the first ever cleared agricultural swap transaction through IntercontinentalExchange clearing house ICE Clear US. Regulatory approval for such transactions was granted by the CFTC in December last year.
DNV suspension lifted
A major player in the Clean Development Mechanism (CDM) markets has been allowed to resume validating projects, the United Nations (UN) CDM Executive Board (EB) has announced.
CME launches electricity futures contracts
CME Group has announced 34 new PJM, ISO electricity swap futures contracts will begin trading on the exchange from 22 February for trade date of 23 February 2009.