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The electricity, natural gas, and other energy markets are on the brink of becoming THE hot opportunity for institutional investors worldwide. In fact, the growth in volume for NYMEX and IPE energy contracts is the only proof you need of the enormous potential in trading these markets. Now, for the first time, this book gives you step-by-step directions on taking advantage of this developing resource. Energy Risk walks you through properly assessing and evaluating the enormous opportunities that are unique to this complex yet vibrant market. It provides not only an expert overview of energy trading but also the philosophies and specific investment strategies you need. Harvard-trained physicist Dragana Pilipovic reveals the intricacies and mechanics of today's energy markets, provides practical answers on how best to get a foothold in energy trading, and also discusses: In-depth explanations of the primary factors that influence energy risk, such as spot price behavior, volatility, and the forward price curve; A detailed introduction to the fundamental price drivers of energy markets including electricity, natural gas, and heating and crude oil; Clearly defined ways that you can use tools introduced throughout the book to achieve your company's crucial risk/return goals. Containing unique trading models that were custom-designed for managing risk in energy and commodity trading, and with over 175 charts and graphs that illustrate key features of the market's equations, correlations, and methodologies. Energy Risk will be the standard energy market reference for many years to come.
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Innovative, proven strategies for skillfully trading energy markets. The energy market uses tools and models that are unique and different from those required for traditional financial markets. With the increasing deregulation of the electricity market, energy is on the brink of becoming THE hot opportunity for traders, power marketers, and managers worldwide. Energy Risk: Valuing and Managing Energy Derivatives provides not only an expert overview of energy trading but also the philosophies and strategies necessary for trading and managing risk in this exciting new arena of finance and investing. Dragana Pilipovic, a Harvard-trained physicist now consulting and designing software in the energy markets, has written the first book to discuss the intricacies and mechanics of energy markets. This groundbreaking book provides practical answers on how best to get a foothold in this emerging market. You'll also find: in-depth explanations of the primary factors that influence energy risk, such as spot price behavior, volatility, and the forward price curve; introduction and detailed discussion of the fundamental price drivers of energy markets including electricity, natural gas, and heating and crude oil; specific ways in which risk managers can use tools introduced throughout the book to achieve their companies' risk/return goals. The growth in volume for NYMEX and IPE energy contracts is the only proof you need of the enormous potential in trading and energy markets! Dragana Pilipovic's Energy Risk, with unique trading models for managing risk in energy and commodity trading, contains over 175 charts and graphs that illustrate key features of the market including a wide variety of equations, correlations, and methodologies. Its primarily quantitative approach and well-supported conclusions make it the ideal single-source, desktop manual for getting reasonable answers to actual modeling and implementation problems surfacing in today's complex and exciting energy markets.
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