US Energiehandel und Bankenkrise

Patrick Reamus berichtet im Utilipoint Blog über die Konsequenzen der Bankenkrise im US Energiemarkt.

Hier ein Artikel zum Thema Vertrauen. Ein Artikel, dass jedem Energiehändler Sorgen bereiten könnte. ETRM Software Community – ETRM Blog » Another Domino Falls – Constellation Energy

Again, keep in mind that Constellation was a strong company. Its trading business was fundamentally solid and they were making money. Yet, because they were so large and relied on various lines of credit to support their operations, just like most every large business in this country, the perception developed that they were at risk. And, when it comes to credit exposure in this market of hypersensitive nerves and sweaty palms, perception is everything. If your counter parties think you’re at risk (even if you’re not), you’re going to have a hard time maintaining your business. These trading partners will pull back and want to limit their exposure to you. You become a trading leper and you can’t stay in business. Perception of risk will always create risk – it is truely a self-fulfilling prophecy.

Und hier ein Artikel, dass nach meiner Meinung weitere Kreisen zieht: ETRM Software Community – ETRM Blog » The Financial Services Meltdown is Hitting Energy Traders

The problem is that these companies have brought an entirely new counter party credit risk profile with them. These financial companies have staked huge positions in both the physical and financial energy commodity space, the “traditional” traders that do business with them now have to contend with events that have nothing to do with energy market fundamentals when calculating risk exposures. They now have to deal with issues related to junk mortgages, bond trading, and exposures of insurance companies to storm losses. Financial services and hedge funds carry with them an entirely new load of baggage that, prior to the last couple of years, most credit managers never really had to consider.

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