Energy Risk

A good bet for 2005

2005 is forecast to be a tough year for many hedge funds, but the saturation of some of their traditional markets could prove a boon to the energy sector, finds Stella Farrington

Evolution expands gas and power desk

US broker Evolution Markets has hired two brokers for the North American natural gas and power desk it launched in October. Corey Geraghty and Trenton Davis now broker gas and electricity options from the company headquarters in White Plains, New York.

TriOptima trims six companies' oil swap portfolios

TriOptima, a Swedish company dedicated to reducing over-the-counter swap portfolios, has expanded its service into energy. The company has terminated its first group of multilateral OTC oil derivative swaps, with six companies eliminating unnecessary…

IPE launches UK electricity baseload index

The International Petroleum Exchange (IPE) has launched a UK electricity baseload index in response, it said, to industry demand for a viable index on which to base physical deals. The first pricing period will be for the March 2005 contract.

European Commission sues over emissions-trading legislation

The European Commission is taking legal action against Greece, Italy, Belgium and Finland for not fully transposing the emissions-trading directive into national law by December 31, 2003. Separately, Italy will receive a final written warning because it…

BofA reports improved commodity-trading income

North Carolina-based Bank of America yesterday reported revenues of $45 million from commodity trading in its full-year 2004 results, up from a loss of $45 million for 2003. The investment bank's recovery came amid strong overall financial results for…

Fortum to buy Eon’s Finnish subsidiary

Finnish energy company Fortum is to buy a majority stake in the Finnish arm of German utility Eon from the parent company and has also offered to buy the City of Espoo’s 34.2% shareholding. Fortum will pay Eon 390 million euros ($509 million) for its 65…

Risk Management Inc signs four utility clients

Risk Management Inc (RMI), a Chicago-based energy consultancy and brokerage, has signed up four new utility customers for its energy risk management and hedging services. The City of Glendale Water & Power and Pasadena Water & Power, both in California,…

Amerex gains sulpur dioxide trading privileges on CCX

Houston-based broker Amerex Energy has obtained SO 2 trading privileges on the Chicago Climate Exchange (CCX), an emissions-trading marketplace. Amerex can now broker futures contracts in trading increments of 25-tonne SO2 allowances. The standard over…

European partnership plans emissions trading market

Pan-European exchange operator Euronext plans to launch an emissions trading market in March 2005 in conjunction with French electricity exchange Powernext and French state-owned investment bank Caisse des Dépôts et Consignations.

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