Dynegy
Dynegy founder Watson recalls dawn of deregulation
Departure from firm in 2002 was ‘right decision’, says former CEO
Reliant bows out of energy trading
Houston-based Reliant Energy has exited the energy derivatives trading market as a result of an $80 million trading loss it suffered at the end of February.
Senators move to establish stronger federal oversight of energy markets
A group of US senators yesterday introduced legislation, called the Energy Market Oversight Act, that seeks to restore the Commodity Futures Trading Commission’s (CFTC) authority over online and bilateral energy trades and give the Federal Energy…
Credit watch
Risk management and analytics firm RiskMetrics gives this month’s analysis of energy companies’ credit quality using its CreditGrades tool
Exchanging blows
Conflict in the US and growth in Europe marked another turbulent year for energy exchanges. Kevin Foster casts an eye back over 2002
Coal on the rocks
Faced with liquidity problems, falling volumes and uncertainty over the accuracy of price data, coal trading has had many of the same difficulties as the natural gas and power sectors over the past year. How can it get back on its feet, asks Kevin Foster
Making the grade
As credit risk is now a major concern in the energy industry, EPRM takes a look at CreditGrades, a risk measurement tool from risk analytics firm RiskMetrics
Entergy Koch enters Spanish power market
US energy trader Entergy Koch Trading (EKT) has started to trade derivatives in the Spanish power market. The move will enhance EKT’s cross-commodity capabilities across power and weather, and will add to cross-border trading activities, an EKT…
Fitch predicts more gloom for US energy companies
US power and gas companies face another grim year in 2003 as liquidity risk, market weakness and litigation and regulatory concerns seem set to continue, according to a new report by rating agency Fitch.
Dynegy exits trading and cuts jobs
Dynegy became the latest big-name US energy company to confirm its withdrawal from the worldwide energy-trading arena in October, as attempts to find a partner for its trading business failed.
OTC power market down by 60% as firms switch to regulated markets
There has been a sharp decline in the number of over-the-counter gas and power contracts since the demise of Houston-based energy trader Enron. Firms initiating power trades are increasingly conducting them via exchanges or through their clearing…
OpenLink introduces Swift messaging capability
OpenLink, a New York-based trading and risk management software company, has released its Open Settlement Solution - an integrated Society for Worldwide Interbank Financial Telecommunication (Swift) messaging capability for its Findur system. Evaluating…
Grim outlook for energy merchants, says S&P
The future of many US energy merchants hinges on their ability to maintain adequate levels of liquidity over the next several months, according to Standard & Poor’s. Although some energy firms with trading operations are making progress on asset sales,…
Dynegy ponders future of trading business
Dynegy, the Houston-based energy company that has seen its share price plunge by 98% over the past year, yesterday said it is considering “strategic options” for its risk management business, including the creation of an independently rated joint venture…
Dynegy ceases online energy trading
Houston-based energy company Dynegy has halted trading on Dynegy Direct, its online trading platform.
Ethical rules needed to boost energy sector
Energy companies in the US and Europe should work together to establish rules for ethical behaviour to restore confidence in the energy sector and boost the liberalisation process, according to Janine McArdle, managing director of Aquila Europe.
‘Witch hunt’ by regulators hits energy investor confidence
Current investigations by regulators into as many as 150 energy companies after the crises of California and Enron, amount to a ‘witch hunt’, according to a senior executive at Dynegy.
Dynegy joins TradeSpark online trading platform
Houston-based energy company Dynegy has become a partner in TradeSpark, the online energy trading platform. The firm has linked its own proprietary trading system, Dynegy Direct, to TradeSpark as part of the deal.
JP Morgan Chase admits $500 million exposure to Enron
JP Morgan Chase said today that it has $500 million of unsecured exposure to Enron.