Energy markets are more perilous than ever before. Deregulation has forced a whole new world of trading and risk management jargon onto the power and energy marketer. How does the manager master this complex process, with its myriad experts, personalities, and systems? John Wengler identifies these issues, discusses and analyzes them, and in checklist fashion prioritizes for managers what they must do to succeed despite risks as diverse as price, trader, and credit. Written in plain English, the text is directed at upper management at all electric utilities, natural gas firms, oil companies, and industrial end-users served by the energy complex.
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Top managers/supervisors at energy companies—oil and natural gas, electric utilities, and public utility commissions in the 50 states, as well as state and federal government regulators—will:
1. Gather a new understanding of the impact of deregulation
2. Understand new technical jargon and methods
3. Have risk management terms de-mystified
4. Obtain tools to manage the new trading and risk management experts joining the traditional utility culture
About the Author
John Wengler is an Executive Consultant with R.W. Beck's Energy Risk Management Group. Prior to joining Beck, he spent seven years with SAVA Risk Management Corporation. He speaks worldwide for such groups as PowerMart, the Electric Power Research Institute, and the American Power Conference. He is an Adjunct Professor at the Illinois Institute of Technology’s Stuart School of Business in Chicago where he teaches marketing financial products. Wengler earned a bachelor’s degree in civil engineering from the University of Wisconsin and an MBA in marketing and finance from Northwestern University’s Kellogg Graduate School of Management.
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Most Helpful Customer Reviews
7 of 9 people found the following review helpful:
1.0 out of 5 stars
Very disappointing,
By A Customer
This review is from: Managing Energy Risk: A Nontechnical Guide to Markets and Trading (Hardcover)
This text offers absolutely nothing. It is either far too simplistic or misses chunks of valuable detail. There are far better introductions to the energy markets (e.g. Stephen Errera's Trading Energy Futures & Options or Peter Fusaro's Energy Risk Management) - buy one of these instead!
5 of 8 people found the following review helpful:
5.0 out of 5 stars
Excellent "big picture" of energy risk management,
By A Customer
This review is from: Managing Energy Risk: A Nontechnical Guide to Markets and Trading (Hardcover)
Managing Energy Risk: A Nontechnical Guide to Markets and Trading serves as a wonderful overview of the critical issues surrounding risk management operations. Although it does not replace an in-depth discussion of financial instruments found in a traditional finance textbook, the author does not intend it to do so. Instead, the book provides an introduction to financial instruments but offers a much broader perspective of risk management. It covers topics such as the trend towards market pricing in the electric power markets, the importance of having clear risk management policies and procedures, and the overall deal process. It is an excellent read for anyone interested in having a "big picture" understanding of risk management operations.
0 of 1 people found the following review helpful:
5.0 out of 5 stars
Excellent !!!,
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Inside This Book
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First Sentence:
Managing Energy Risk: A Nontechnical Guide to Markets and Trading introduces the issues that executives in the electricity and energy markets alike must understand in order to manage market risk. Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
managing energy risk, market maker strategy, forward price curve, volumetric risk, reluctant utility, energy risk management, seasonality functions, prompt month, market price behavior, swing option, speculation strategy, volatility term structure, management mindset, risk management policies, nontechnical guide, generation assets, price discovery, risk limits, fundamental modeling, energy derivatives, risk manager, price curves, strike price, forward prices Key Phrases - Capitalized Phrases (CAPs): (learn more)
Price-Risk Pyramid, Wall Street, New York, Dragana Pilipovic, Federal Energy Sales, Top Ten Checklist, United States, Concentric Circles, Next Month, Orange County, Manager's Bookshelf, Pilipovic Model, Risk Management Committee, Risk-Return Strategies, Jim Clarke, Monte Carlo, Risk Management Corporation, Backward Financial, Main Street, Time of Delivery, Dunham Cobb, Jeff Deneau, Karl Stanley, Strike Bucket, Tom Hahn New!
Books on Related Topics | Concordance | Text Stats Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
Managing Energy Risk: A Nontechnical Guide to Markets and Trading introduces the issues that executives in the electricity and energy markets alike must understand in order to manage market risk. Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
managing energy risk, market maker strategy, forward price curve, volumetric risk, reluctant utility, energy risk management, seasonality functions, prompt month, market price behavior, swing option, speculation strategy, volatility term structure, management mindset, risk management policies, nontechnical guide, generation assets, price discovery, risk limits, fundamental modeling, energy derivatives, risk manager, price curves, strike price, forward prices Key Phrases - Capitalized Phrases (CAPs): (learn more)
Price-Risk Pyramid, Wall Street, New York, Dragana Pilipovic, Federal Energy Sales, Top Ten Checklist, United States, Concentric Circles, Next Month, Orange County, Manager's Bookshelf, Pilipovic Model, Risk Management Committee, Risk-Return Strategies, Jim Clarke, Monte Carlo, Risk Management Corporation, Backward Financial, Main Street, Time of Delivery, Dunham Cobb, Jeff Deneau, Karl Stanley, Strike Bucket, Tom Hahn New!
Books on Related Topics | Concordance | Text Stats Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
Citations (learn more)
This book cites 23
books:
See all 23 books this book cites
2
books
cite this book:
- Risk Management (IOD Director's Guide) by Institute of Directo on 9 pages
- Against the Gods: The Remarkable Story of Risk by Peter L. Bernstein on page 11, page 107, and Back Matter
- Risk Management by Will in Front Matter, and Back Matter
- Energy Risk: Valuing and Managing Energy Derivatives by Dragana Pilipovic in Front Matter, and Back Matter
- Derivative Securities by Robert Jarrow on page 11, and Back Matter
See all 23 books this book cites
- Creating Competitive Power Markets: The Pjm Model by Jeremiah D. Lambert in Back Matter
- CBOT Handbook of Futures and Options by Cbot on page 379
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