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http://www.eyeforenergy.com/newsletter/newsletter_191001.html [IMAGE]=09[IMAGE]=09=09=09=09[IMAGE][IMAGE] =09 [IMAGE]=09HOME =09EVENTS =09ADVERTISE =09INDUSTRY DIRECTORY =09[IMAGE]=09[I= MAGE]=09 Friday, October 19, 2001 Issue 39 EDITORIAL Weathering Risk This = week's Briefing is concerned with risk, chiefly that presented by weather i= n the face of newly deregulated (re-regulated?) energy markets. Our main f= eature explains how susceptible the industry has become to increasingly vol= atile weather, and how the plethora of risks which become presented (includ= e those directly related to earnings) can be alleviated by trading a portfo= lio of weather derivatives. We also outline some of the companies who are = already emerging as major players in what is already becoming an essential = tool for managing financial risk. On a broader note, our second feature o= utlines approaches to managing risk in general, and how energy companies ca= n identify and consolidate new opportunities, and reap real financial benef= it from minimal risk. Also, this week saw Eyeforenergy's conference in Si= ngapore, which has been a resounding success. In a future issue of the Bri= efing, we will bring you details of events as they unfolded at this three-d= ay meeting of some of the most influential and forward-thinking companies a= nd organizations in the Asian energy market. For now, you can apply for un= limited access to the speakers' presentations at this conference - more det= ails are available here . -- Bruno Russell, Acting Editor FOCUS We= ather is Risky Business for Energy Providers The pathway to economic obli= vion is paved with the bleached bones of those that failed to manage risk. = It has been said that economic history is the history of people learning to= manage risk. As deregulation takes root, power providers are spreading the= ir reach to the far corners of the globe, in an effort to minimize their ri= sk in any given market. You don't need a quick trip to Las Vegas to realiz= e that the laws of probability are alive and well in the energy sector. Eve= n the most basic of economic indicators; things that once seemed unpredicta= ble, crop harvest, storms, war, famine, the flow of capital can all be fore= cast with some degree... Click here for Full Story INSIGHT Managing = Risk, "That Old Black Magic" Headlines coming out of the energy sector ar= e hard to escape. One company reports record profits, another record losses= , another goes belly up, yet even more merge, acquire, form alliances, expa= nd, contract and jockey for position as deregulation and increasing competi= tion in energy markets thrust them from a historically stable, low risk env= ironment into a brave new world, full of ever changing risk and opportuniti= es. Add to the mix shareholders screaming for more profits, consumers dema= nding lower prices, regulators hell bent on proving deregulation is a myth;= there is only re-regulation in a new world order. With this dislocation, t= he first issue for shareholders and managers of the affected companies to c= ome... Click here for Full Story ADVERTISEMENT [IMAGE] Eyeforenergy G= reen Convention 2001 Hotel Le Plaza, Brussels 5-6 November 2001 In light = of new EU Directives which aim to double green power's share of the electri= city requirement in Europe to 22.1% by 2010, we are very pleased that Johan= nes Maters of the Commission will deliver this event's opening address, dis= cussing the Commission's role in promoting the use of renewable energy. H= e heads a formidable programme of speakers from Europe's energy majors who = will be presenting their strategies for commercial green success, including= representatives of BP, Enron, Nuon, Erga, RWE Power, JP Morgan and many mo= re. For full programme and speaker details, click here [IMAGE] Landmar= k Graphics and Petroleum Place -- Accelerating Business Efficiency Landma= rk Graphics and Petroleum Place Delivers Enormous Efficiencies within Acqui= sition and Divestiture. How? Through online delivery of data and evaluation= tools within an APS environment to afford dramatic efficiencies for both s= ellers and buyers. Visit www.petroleumplace.com [IMAGE] The Business o= f Fuel Cells for Stationary Applications Le Plaza Hotel, Brussels, November= 27-28th Business models, strategic alliances, distribution channels, ear= ly market opportunities and financing will be discussed in Brussels from No= vember 27th to 28th. Companies delivery presentations include: End users a= nd distributors (RWE, Gaz de France, UK local government), Manufacturers (A= lstom Ballard, Siemens Westinghouse, Global Thermoelectric, Cermaic Fuel Ce= lls Ltd., Zetek Power), Component and catalyst providers (DuPont, Johnson M= atthey Fuel Cells, Vandenborre, Idatech), Investors and independent financi= al analysts (Metasource, Phil Doran), and Industry Associations (World Fuel= Cell Council, COGEN Europe). As this event has been produced by our siste= r organization, EyeforFuelCells, we are pleased to announce that subscriber= s to the Eyeforenergy Briefing automatically qualify for a 20% discount on = registration. Just quote "brief" on any registration material. For the fu= ll programme and registration, please click here: http://www.eyeforfuelcell= s.com/events/europe2001/programme.shtml [IMAGE] NEWS ROUND UP - WEEK IN = REVIEW Green Mountain Stakes Claim to Texas Sun, Plans Two Solar Projects= October 16, 2001---Two solar arrays capable of producing a combined 100k= W are on the drawing boards of Green Mountain Energy Company. At the same t= ime the company announced the launch of the Big Texas sun Club, billed as a= n easy way for Green Mountain customers to support the company's solar ener= gy efforts. "The launch of this new product and the development of these n= ew solar facilities is a result of the tremendous customer demand we have e= xperienced in the Texas market," said Gillan Taddune, vice president and ge= neral manager of the Texas region for Green Mountain Energy Company. "We ha= ve large... Click here for Full Story Scientists Urge U.S. to Develop M= ore Renewable Energy Resources October 15, 2001---In a report released to= day the Union of Concerned Scientists urges the United States to take a pro= -active stance on renewable energy. The report says the country should esta= blish a goal of producing at least 20 percent of its electricity from wind,= solar, geothermal and other renewable energy sources by 2020. The Cambrid= ge, Massachusetts-based group said currently more than half of the electric= ity produced in the United States comes for power plants that burn coal, wi= th less than 2 percent of the country's electricity coming from renewable s= ources. "Adopting a renewable energy standard would diversify... Click he= re for Full Story Enron's European Electricity Trading Takes Off Octo= ber 12, 2001---Houston based energy giant Enron reports that it has traded = five times as much wholesale electricity in continental Europe during the f= irst half of this year than it did in a similar period last year. Continen= tal power trading director Gregor Baeumerich told Reuters the company trade= d 523 terawatt hours in the first half - roughly equivalent to annual Germa= n power demand - up from 93 terawatt hours in the first half of 2000. ``O= n average we are now doing around 200 deals a day with about... Click here = for Full Story Calpine to Float $2.56 Billion Bond Offering October= 11, 2001---Calpine announced Thursday that it plans to raise about $2.56 b= illion from a four-currency bond offering and a sale of pass-through certif= icates. According to a source familiar with the scheme the San Jose, Cali= fornia based independent power company, has enjoyed strong demand... Click = here for Full Story Shell Marches Back to Profitability October 10,= 2001---After losing some R$100 million between 1999 and 2000 Shell is back= in the black and experiencing considerable growth in 2002. Shell also prom= ised to conquer the leadership of the market over the next years. The compa= ny will invest R$180mil in assets in 2002, a growth of 33% if... Click here= for Full Story Puget Energy's Stock Dips as Regulators Reject Rate Inc= rease October 9, 2001---As regulators rejected an emergence rate increa= se Puget Energy's management slashed the Washington utility's earnings repo= rt, sending the stock to its lowest price in eighteen months. The company= 's utility arm, Puget Sound Energy had asked Washington State's Utilities a= nd... Click here for Full Story Latest News Now! [IMAGE] EDI= TORIAL [IMAGE] Weathering Risk ARTICLES [IMAGE] Weather is Risky Busines= s for Energy Providers [IMAGE] Managing Risk, "That Old Black Magic" NEW= S ROUND UP [IMAGE] Green Mountain Stakes Claim to Texas Sun, Plans Two Sola= r Projects [IMAGE] Scientists Urge U.S. to Develop More Renewable Energy R= esources [IMAGE] Enron's European Electricity Trading Takes Off [IMAGE] C= alpine to Float $2.56 Billion Bond Offering [IMAGE] Shell Marches Back to = Profitability [IMAGE] Puget Energy's Stock Dips as Regulators Reject Rate = Increase EVENTS [IMAGE] Green Convention 2001 [IMAGE] EEO Europe - = Energy Trading in the New Economy [IMAGE] Emissions Trading 2002 [IMAG= E] Weather Trading 2002 SUBSCRIBE Please enter your email address b= elow to subscribe to the EyeForEnergy newsletter. Thank you UNSUBSCR= IBE To unsubscribe from the EyeForEnergy newsletter please enter your emai= l below. Thank you If you have any comments about this newsletter or = you would like to suggest future topics or industry related news, please em= ail bruno@eyeforenergy.com [IMAGE] =09
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