Energy Risk

Fastow under investigation

Jeremy Weinstein examines the indictment of former Enron chief financial officer Andrew Fastow and speculates on his – and the Enron management’s – motives

FAS 133: increasing transparency

Standard & Poor’s Jack Kennedy and Neri Bukspan believe new Financial Accounting Standards Board rules for US energy traders will make it easier to measure a firm’s risk management ability, liquidity position and equity capital

All clear for energy

Several organisations have brought over-the-counter clearing to the US energy markets over the past six months. Kevin Foster assesses their progress and asks whether they can all survive

A long road to deregulation

Prospex Research’s Ben Tait reports on Spain and Portugal’s progress in integrating their power markets. High ambitions for deregulation are proving difficult to achieve

El Paso helps RiskMetrics adapt

RiskMetrics Group, a company more often associated with the financial sector, is implementing its risk solution software at energy firm El Paso Corp. How is it adapting the software to the specifics of the energy sector? Kevin Foster reports

Weighing up the options

The Brazilian energy market is set for more upheaval as the incoming president seeks a compromise between his campaign promises of greater state control over energy and the goal of attracting foreign investors into the sector. Maria Kielmas reports

A mark-to-market u-turn

A reversion to the old, non-mark-to-market regime for accounting for energy trading contracts is changing the energy supply business, reports Catherine Lacoursière

Entergy-Koch reaps the benefit

While its quiet discipline made Entergy-Koch Trading one of the less glamorous energy trading houses during the Enron boom years, its steady business model is now paying off, as James Ockenden reports

How much can you take?

Given recent events, energy firms need to fundamentally re-think how they estimate their risk tolerance. Maria Kielmas asks what has prompted this soul-searching

Weather option pricing with transaction costs

The weather derivatives market is becoming more liquid, and dynamic hedging of weather options with weather swaps is now possible, though limited by transaction costs. Here Stephen Jewson investigates the effect of such hedging on option pricing

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