Managing Energy Risk: An Integrated View on Power and Other Energy Markets

As global warming takes center stage in the public and privatesectors, new debates on the future of energy markets andelectricity generation have emerged around the world. The SecondEdition of Managing Energy Risk has been updated to reflectthe latest products, approaches, and energy market evolution. Afull 30% of the content accounts for changes that have occurredsince the publication of the first edition. Practitioners willappreciate this contemporary approach to energy and thecomprehensive information on recent market influences.

A new chapter is devoted to the growing importance of renewableenergy sources, related subsidy schemes and their impact on energymarkets. Carbon emissions certificates, post-Fukushima marketshifts, and improvements in renewable energy generation are allincluded.

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

The unique, practical approach to energy trading includes acomprehensive explanation of the interactions and relations betweenall energy commodities.

• Thoroughly revised to reflect recent changes in renewableenergy, impacts of the financial crisis, and market fluctuations inthe wake of Fukushima
• Emphasizes both electricity and gas, with all-new gas valuationmodels and a thorough description of the gas market
• Written by a team of authors with theoretical and practicalexpertise, blending mathematical finance and technicaloptimization
• Covers developments in the European Union Emissions TradingScheme, as well as coal, oil, natural gas, and renewables

The latest developments in gas and power markets havedemonstrated the growing importance of energy risk management forutility companies and energy intensive industry. By combiningenergy economics models and financial engineering, ManagingEnergy Risk delivers a balanced perspective that captures thenuances in the exciting world of energy.