Practicalities of European Wholesale Energy Market Standardisation
A quiet revolution is occurring in the European wholesale energy market place. It's a revolution led by the industry itself and is based on the comparatively 'technocratic' activity of standardisation of data exchange and business processes. The aim of this concerted effort is to unlock the potential value held by e-business for the liberalising pan-European energy market.
By Hugh Brunswick.

Energy Business Awards Winners
Energy markets, particularly in North America and Europe, have had a tumultuous year a period that dawned with the implosion of Enron and finished with the abandonment of energy deregulation in a number of markets amid serious questioning of the strategy of many energy traders. The whole deregulatory process has been brought into question and, in some parts of the world, reversed. Asset values have plummeted, credit markets have crumbled, banks and rating agencies criticised for complicity, and court cases continue in acrimony. The companies honoured here are those steering the energy industry on a more positive course.
Energy Business Awards.

Energy Roundup 2002
For the global energy markets 2002 will probably be remembered as a year of change. The fallout from Enron¹s bankruptcy, and the wave of credit uncertainty that followed, had an impact on all markets. In the US market it highlighted the need for better regulation and accounting procedures; in Europe it has seen the withdrawal of US companies and an increase in European consolidation, while in Asia it has slowed the pace of liberalisation. In the following articles John Sodergreen, Jeremy Wilcox and Cindy Galvin provide a personal perspective on each of the continental energy markets.
By John Sodergreen, Jeremy Wilcox & Cindy Galvin.

Commodity Currencies
The global economy is struggling, but commodity currencies that logically should only perform in an upturn, have done well this year.
By Neil Behrmann reports.

Base Metals: What Lies Beyond the Post-Bubble Blues?
Although base metals have escaped some of the worst ravages of the recent meltdown in many financial markets, they have not been immune from the bursting of the telecom's, media and technology (TMT) bubble. Neil Buxton, Managing Director of GFMS Metals Consulting, examines the driving forces behind this and previous cycles and considers the prospects for 2003.
By Neil Buxton, Managing Director, GFMS Metals Consulting.

LME: A Year of Progress
The London Metal Exchange the world¹s premier non-ferrous metals futures and traded options Exchange has seen off a difficult year for the base metals industry maintaining steady volumes of around $2,000bn and unveiling a number of new initiatives.
By Guy Isherwood, Editor, Commodities Now.

Softs in 2003
The Economist Intelligence Unit¹s soft commodities index food, feedstuffs and beverages (FFB) bottomed out in the fourth quarter of 2001 and has since risen through 2002. The third quarter of 2002, saw sharply escalating soft commodity prices almost a golden time for prices across these agricultural commodities led by grains (notably wheat, sorghum and maize) and oilseeds (led by soybean oil and rapeseed oil).
By Matt Parry, Senior Commodities Editor, Economist Intelligence Unit.

Greenhouse Gas Emissions History, Perspectives & Forecasts
Russia's recent announcement that it plans to ratify the Kyoto treaty on global warming means that a sufficient number of large greenhouse gas (GHG) producers will soon be signed up to bring the treaty into effect. Despite the failure of the United States the world's biggest polluter to ratify the treaty, the inclusion of the world's third biggest polluter Russia will give the ailing treaty the kiss of life. This has significant implications for the trading of GHGs.
By Timothy Douek, Utilis Energy LLC.

Green Financial Indexes in the Environmental Markets
The growing awareness of the benefits of green trading has called for and enticed expansion into greenhouse gas, renewable energy, and energy efficiency. And as demand for green trading and environmental risk management evolves so too is the need for more efficient metrics that allow for accurate valuation of market and corporate risks.
By Peter Fusaro & Antoine Eustache.

Russia, The 21st Century Powerhouse
Having embarked on a painful transition to a market economy, Russia's heavy dependence on energy exports has been catching the market's eye of late. Energy market reform has therefore taken on greater significance. But Russia is much more than an oil giant it's the world's gas powerhouse.
By Guy Isherwood, Editor, Commodities Now.

Energy Trading Still Afloat?
Red sky at night, sailor's delight. Red sky in the morning, sailors take warning. It is a simple, and relatively accurate forecast barometer of upcoming weather that sailors have used for centuries before they head to sea. The US energy trading industry already knows the morning sky is currently glowing a bright red. Innocent, unaware observers might comment on its brilliance and raw beauty. Salty sailors know different.
By Linda K. Rader.

British Investors Catch the Commodities Bug
"Last month, I bought £880 worth of silver. I did not have to hand over any cash or take delivery of any metal, and I did not have to open a cumbersome futures trading account in order to do so. I held the position for 10 days, and eventually pocketed a small profit,".
By Angus McCrone.

Delivering the Italian National Power Exchange
Gestore del Mercato Elettrico is implementing a programme that will introduce competition to the provision of electricity in Italy through a national power exchange. The power exchange will initially open to generators, distributors and wholesalers and extend to eligible customers over time. This article describes the deployment of the Italian power exchange, its structure and operation, and its current status as Italy and its 57 million citizens approach the opening of the nation's competitive energy market.
By Bill Mahoney.

XML: Who Sets the Standard?
In commodity trading, XML is the language that will continue to evolve to allow disparate systems to communicate with each other. On an even more important level, XML will enable commodity traders to communicate with their counterparts, trading partners, and online exchanges. For all of this to happen, the industry will have to standardise on a set of vocabularies - every trading operation will be forced to conform to the standards at some point in the near future.
By Allie Rogers, JR.