Energy Risk

Dominion buys 310MW plant from Dynegy and NRG

Dominion Virginia Power, the power utility subsidiary of Dominion, today completed the purchase of the 310-megawatt Commonwealth power plant in Chesapeake, Virginia. The move is consistent with its aim of reducing the cost of long-term power purchase…

Saudi to up oil output to 12.5 million b/d

Saudi Arabia’s total oil production capacity is now at 11 million barrels a day (b/d) and plans are in place to increase it to 12.5 million b/d, Saudi Arabia’s Minister of Petroleum and Mineral Resources, Mr Ali Al-Naimi, said Monday.

CFTC allows US firms to trade on EEX

The US Commodity Futures Trading Commission has permitted US companies to trade power derivatives on the European Energy Exchange with immediate effect, EEX said Thursday.

European emissions trading on track

The EU emissions trading scheme is on track to start in January 2005, with the European Commission having approved 16 out of 25 of the EU member National Allocation Plans that lie at the heart of the scheme, said Peter Vis, acting head of the Industrial…

EEX to launch spot carbon contract

German-based electronic exchange European Energy Exchange (EEX) is to launch a spot contract to trade EU carbon emissions allowances in January 2005.

Energy users demand trading oversight

The debate continues over whether speculative traders are distorting energy prices, following a letter sent by the Industrial Energy Consumers of America (IECA) to Congress last week. “Energy markets have changed drastically, and regulatory oversight,…

Static emissions price “does not reflect fundamentals”

The European emissions trading market, with its static price over the last four to five weeks, “is not a good market,” and does not reflect fundamentals, said Chris Rowland, managing director of utilities research at Dresdner Kleinwort Wasserstein.

Energy traders urged to pre-register for risk poll

Energy traders wishing to take part in Energy Risk/Risk’s 12th annual Commodity Rankings can now pre-register to vote to avoid missing important voter updates and deadlines in the magazines’ annual survey of the energy business.

BP pays $100,000 to settle wash trading charges

The energy round-trip trading scandal continues to rumble on, as BP America today paid $100,000 to the US Commodity Futures Trading Commission (CFTC) to settle charges of illegal wash trading. A wash or round-trip trade is one that produces neither a…

Dynegy to buy Sithe Energies from Exelon

Dynegy is set to reduce the effect of some of its loss-making tolling and financial swap contracts, buy power plants in the northeast US and acquire a supply agreement to increase stable cashflow and service debt.

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