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Energy Risk Management

Energy Risk Management

Name: Energy Risk Management
Brand: Risk Books
SKU: 9781904339748
Price: 3859.50 HKD
Availability: OutOfStock
Author: Steve Leppard
ISBN: 9781904339748

By Steve Leppard

Risk Books December 2005

Specifications

ISBN-13: 9781904339748
Publisher: Risk Books
Publication: December 2005
Format: Paperback
Jurisdiction: International ? Countri(es) for reference only

Details

A concise and focused report that explains the concept of energy price hedging in an accessible format ideally tailored for busy practitioners.

Specifically written to save time and aid decision-making among busy senior executives and managers - and indeed any reader - who does not wish to be hampered by unnecessary technical detail while gaining a clear understanding of energy risk management issues.

Illustrates the purpose of energy derivatives, and evaluates their benefits and weaknesses.

More complex, quantitative material is present, but as an optional extra to your understanding - appearing only in technical appendices should you wish to deepen your appreciation of the subject and apply it to your own business.

Succinctly explains how energy derivative instruments are constructed and priced, as well how their risk can be understood and managed.

The report equips you with:

The ability to identify risks and their interactions.
Techniques to express these risks clearly.
An appreciation of trading activity and its role in risk management.
A thorough understanding of energy risk management (derivative) instruments and their relationship with physical supply and off take agreements.
Insight into how risk management solutions can be constructed to offer protection against market price movements.
The ability to identify flexibilities in physical operations and recognise their value.

Key to Risk Books’ new series of executive reports - this title is concise, highly accessible and practical - offering easily digested chunks of information. And to further aid your understanding it makes extensive use of bullet lists, diagrams, chapter summaries, learning aids and many market relevant case studies that marry the concepts of energy derivatives with recognisable events.

About Executive Reports**

Featuring up-to-the-minute research and essential market intelligence the new Executive Reports series from Risk Books helps you profit in a variety of industry specific sectors. Hard facts combine with practical guidance and incisive analysis to offer a highly-accessible practitioner-focused format that saves you time and aids decision-making.

INTRODUCTION

Energy risk management

The risk management process

Style of presentation in the report

Chapter review and look ahead

RISK IN ENERGY MARKETS

Financial and commodity markets

Understanding risk

Designing a risk management programme

Chapter review and look ahead

MARKET VALUE OF PHYSICAL AND FINANCIAL COMMITMENTS

Preamble

Commitments, positions and market prices

Position

Market prices

Contracts and mark-to-market quantities

Mark-to-market is valid only for an instant

Chapter review and look ahead

Technical appendix: Interest rates and compounding conventions

PHYSICAL TRANSACTIONS AND BASIC HEDGING INSTRUMENTS

Physical transactions

Preamble

Physical producer

Physical consumer

Physical transformer

Risk analysis

Physical futures and forwards

Futures contracts

Forward contracts

Fixed-for-floating swaps

Other types of swap

Floating-for-floating swaps

Quanto swaps

Indexation swaps

Other swap types

Chapter review and look ahead

Technical appendix: Futures margining

Technical appendix: Pricing of OTC linear instruments

FUNDAMENTAL OPTION CONCEPTS

The language and nature of options

Why and how are options used by hedgers?

“Moneyness” and option values

Factors impacting option value

About the Author

Steve Leppard

Steve Leppard is a commodity structurer for corporate and liability clients in JP Morgan’s commodity team in London, a post he took up in June 2008. Prior to this Steve held posts in commodity structuring at Merrill Lynch in London, head of BP’s global oil structured derivatives group in London, SG’s senior strategist for their Gaselys JV with Gaz de France in Paris and head of Enron Europe’s quantitative research group in London. Dr Leppard holds a PhD in Mathematics from King’s College London and a first class honours degree in Mathematics from Imperial College London.

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