Managing Energy Price Risk: The New Challenges and Solutions, Third Edition

The definitive third edition of the best-selling multi-author reference source on global energy and power markets. Fully revised, updated and extended to incorporate current market realities and theory enabling practitioners to effectively measure, structure, hedge and manage risk in today's energy related transactions. Provides a complete review of the current state of the energy markets, with insights into how leading practitioners, academics and regulators are now tackling the issues and developments. All the main energy areas including natural gas, oil, coal and electricity as well as related markets such as emissions are covered within five easily accessible sub sections, each introduced by Vincent Kaminski that help correlate the entire book - Energy Instruments Developments in Energy Markets Risk Measurement and Reporting Tools for Risk Analysis Real Options Relates quantitative issues to both the needs of today's corporations and to the reality of current market practice. Explains technical terms and concepts using worked examples and real life market insights. Largely re-written to incorporate developments over the last four years, this third edition now includes additional new chapters that cover the management of retail energy markets, gas storage, the emissions market, international coal markets and the issue of financial style hedging and risk management of assets that are subject to physical risk amongst others. Brings together contributions and insight from some of the world's most respected practitioners, academics and regulators to reflect the current state of price risk management in the energy industry. A near complete compendium of knowledge designed to enable risk managers and senior executives make more informed decisions as well as identifying some key unanswered questions to help direct future research on the subject matter.