Energy Risk
ICE Clear Europe goes live
London-based energy exchange ICE Futures Europe yesterday successfully switched its clearing operations from LCH.Clearnet to is own ICE Clear Europe clearing house.
44% drop in EU ETS shortfall predicted
The global recession will bring a 44% drop in EU ETS shortfall, according to a forecast on November 3 by IDEAcarbon, a carbon market and research firm
Essent gains Spanish trading license
Essent Trading announced today that it has been granted a license to trade natural gas on the Spanish market by the Spanish Ministry of Industry, Tourism and Commerce.
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.
VeraSun Bankruptcy Highlights Tough Ethanol Market Say Experts
VeraSun Energy’s latest financing package may have given it the necessary relief to continue operations, but its bankruptcy filing indicates times are extremely tough for the ethanol industry, with more casualties expected, experts say.
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.
Powernext gas futures to launch in November
Energy exchange Powernext is set to launch natural gas spot and futures contracts for the French market in the second half of this month.
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.
Short list of top five carbon management IT providers
Energy Insights, a energy consultancy company owned by global advisory firm IDC, has released an industry short list comparing IT companies who provide carbon management software to oil and gas companies, independent power producers, and utilities.
CME to launch new gasoil, natural gas liquids and plastics contracts
CME Group has announced the launch of new gasoil options and plastics futures contracts, as well new natural gas liquid swaps.
Goldman Sachs to market GHG emission reductions through strategic alliance with Blue Source
Goldman Sachs has bought an equity stake in Blue Source in a strategic alliance to market green house gas emission reductions in US.
EU nations accused of restricting free trade of renewable energy
The European Federation of Energy Traders (EFET) has supported a complaint, from an unnamed generator and a renewables trader, made to the European Commission on October 10.
ETF Securities close acquisition of Gold Bullion Securities
ETF Securities has completed the acquisition of Gold Bullion Securities’ Exchange Traded Commodities (ETC) products listed on London and Australian Stock Exchanges.
Launch of NASDAQ OMX Commodities as acquisition of Nord Pool closes
Global exchange company, NASDAQ OMX has completed the 100 percent share acquisition of Nord Pool International, to create NASDAQ OMX Commodities, the world’s biggest provider of cleared power derivatives volumes.
UK first in Europe to conduct Phase II carbon credit auction
The UK will be the first country in Europe to hold a carbon credit auction under phase II of the European Union Emissions Trading Scheme (EU ETS), the government announced today.
Nymex announces job cuts
Nymex is to make 150 job cuts over the next 18 to 24 months as a result of its acquisition by CME Group in August 2008.
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.
New futures contracts launched on ClearPort
CME Group is to launch 18 natural gas and 17 petroleum product swap futures contracts on its ClearPort system.
Eurex to launch commodity index futures and options
Derivatives exchange Eurex will launch futures and options based on Dow Jones-AIG commodity sub-sector indexes in the first quarter of 2009.
RTS to launch power and weather futures
The futures and options wing of Moscow-based stock exchange Russian Trading System, RTS-FORTS, is planning to launch electricity and weather futures contracts in 2009.
Kyoto global emissions trading system to go live
The United Nations climate change secretariat (UNFCCC) has announced that the International Transactional Log (ITL) of the Kyoto Protocol emissions reduction framework will connect with carbon registries from 26 EU countries from October 16.
ICE Clear Europe to commence clearing on November 3
London-based ICE Futures Europe’s wholly owned clearing house ICE Clear Europe will begin operations on November 3, when all futures and OTC trading positions are transferred from current clearer LCH.Clearnet.
JP Morgan takes DME stake
JP Morgan has taken an undisclosed equity stake in the Dubai Mercantile Exchange (DME).
Mizuho and Ambrian team up for LME brokerage
Mizuho Securities USA, the US securities and futures arm of Japan’s Mizuho Financial Group, has agreed to cooperate with Ambrian Commodities, a subsidiary of London-based natural resources investment bank Ambrian Capital.