Managing Energy Risk An Integrated View on Power and Other Energy Markets [Hardcover]

Managing Energy Risk closes the gap between modern techniques from financial mathematics and the practical implementation for trading and risk management. It takes a multi-commodity approach that covers the mutual influences of the markets for fuels, emission certificates, and power. It includes many practical examples and covers methods from financial mathematics as well as economics and energy-related models.

Preface.

1 Energy Markets.

1.1 The oil market.

1.1.1 Consumption, production and reserves.

1.1.2 Crude oil trading.

1.1.3 Refined oil products.

1.2 The natural gas market.

1.2.1 Consumption, production and reserves.

1.2.2 Natural gas trading.

1.2.3 Price formulas with oil indexation.

1.2.4 Liquefied natural gas.

1.3 The coal market.

1.3.1 Consumption, production and reserves.

1.3.2 Coal trading.

1.3.3 Freight.

1.3.4 Coal subsidies in Germany: BAFA-indexed prices.

1.4 The electricity market.

1.4.1 Consumption and production.

1.4.2 Electricity trading.

1.4.3 Products in the electricity markets.

1.4.4 Energy exchanges.

1.5 The emissions market.

1.5.1 Kyoto Protocol.

1.5.2 EU emissions trading scheme.

1.5.3 Flexible mechanisms.

1.5.4 Products and market places.

1.5.5 Emissions trading in North America.

2 Energy Derivatives.

2.1 Forwardlói