Tools and methods for analysis and management of energy risk Energy and Power Risk Management, Second Edition addresses the complex issues and challenges arising in the expanding market for energy derivatives, providing you with insight into modeling, hedging, and risk management techniques utilized in the energy markets. This fully revised and updated Second Edition provides significantly more coverage of the oil and oil product markets as well as commodity-linked fixed-income products, and also reviews the impact technical developments in modeling and model estimation have made within this industry over the last few years. * Expands the coverage of principal trading/risk management strategies in commodities markets, including convergence trading and structured risk trading (volatility and correlation) * Contains tools and strategies for producers, wholesale consumers, investors, and dedicated risk management participants of the commodity markets * Provides a detailed discussion of underlying fundamental issues, such as supply/demand relations, outages, and operational and environmental constraints that can have a dramatic impact on the value and behavior of energy derivatives and assets * Uses real-world examples and current data to illuminate all of its most important theoretical points Energy and Power Risk Management, Second Edition is an essential read for anyone involved in this evolving field.
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"If you were considering buying one book on this topic this would be a strong candidate." (The Journal of Energy Literature, June 2003)
Praise for Energy and Power Risk Management
"Energy and Power Risk Management identifies and addresses the key issues in the development of the turbulent energy industry and the challenges it poses to market players. An insightful and far–reaching book written by two renowned professionals."
Helyette Géman, Professor of Finance
University Paris Dauphine and ESSEC
"The most up–to–date and comprehensive book on managing energy price risk in the natural gas and power markets. An absolute imperative for energy traders and energy risk management professionals."
Vincent Kaminski, Managing Director
Citadel Investment Group LLC
"Eydeland and Wolyniec’s work does an excellent job of outlining the methods needed to measure and manage risk in the volatile energy market."
Gerald G. Fleming, Vice President, Head of East Power Trading, TXU Energy Trading
"This book combines academic rigor with real–world practicality. It is a must–read for anyone in energy risk management or asset valuation."
Ron Erd, Senior Vice President
American Electric Power
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