Managing Energy Risk (PDF)

An overview of today's energy markets from a multi-commodity
perspective

As global warming takes center stage in the public and private
sectors, new debates on the future of energy markets and
electricity generation have emerged around the world. The Second
Edition of Managing Energy Risk has been updated to reflect
the latest products, approaches, and energy market evolution. A
full 30% of the content accounts for changes that have occurred
since the publication of the first edition. Practitioners will
appreciate this contemporary approach to energy and the
comprehensive information on recent market influences.

A new chapter is devoted to the growing importance of renewable
energy sources, related subsidy schemes and their impact on energy
markets. Carbon emissions certificates, post-Fukushima market
shifts, and improvements in renewable energy generation are all
included.

Further, due to the unprecedented growth in shale gas production
in recent years, a significant amount of material on gas markets
has been added in this edition. Managing Energy Risk is now
a complete guide to both gas and electricity markets, and
gas-specific models like gas storage and swing contracts are given
their due.

The unique, practical approach to energy trading includes a
comprehensive explanation of the interactions and relations between
all energy commodities.

* Thoroughly revised to reflect recent changes in renewable
energy, impacts of the financial crisis, and market fluctuations in
the wake of Fukushima

* Emphasizes both electricity and gas, with all-new gas valuation
models and a thorough description of the gas market

* Written by a team of authors with theoretical and practical
expertise, blending mathematical finance and technical
optimization

* Covers developments in the European Union Emissions Trading
Scheme, as well as coal, oil, natural gas, and renewables

The latest developments in gas and power markets have
demonstrated the growing importance of energy risk management for
utility companies and energy intensive industry. By combining
energy economics models and financial engineering, Managing
Energy Risk delivers a balanced perspective that captures the
nuances in the exciting world of energy.