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08.50 Chairman's opening remarks
Steve Brosnan, Commercial Director and Head of Risk for Cumulus Funds, PCE INVESTORS
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09.00 KEYNOTE
Energy investment risk: Government role - creating risk, mitigating risk
- The need for infrastructure investment
- Creating the framework for investment
- Addressing investment risk
Mark Higson, Chief Executive, Office for Nuclear Development, DEPARTMENT OF ENERGY AND CLIMATE CHANGE
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09.40 PANEL DISCUSSION
Market coupling: How close are we towards realising a single electricity market for Europe?
- Have the latest market coupling projects been a success and to what extent has power trading benefited from increased integration?
- What is the status on intra-day market integration?
- What essentials need to be developed in the short term to make intra-day market integration a reality?
Moderator: Peter Styles, Chairman, Electricity Committee, EFET
Tony West, Power Strategy Manager, GAZPROM MARKETING & TRADING
Antonio Lopez-Nicolas, Market Advisor, ENTSO-E
Francisco Hernanz, Forward Trading Manager, IBERDROLA
Adeline Lassource, Cross-Border Power Trade Department, Grid Access Directorate, COMMISSION DE REGULATION DE L'ENERGIE
Andrew Claxton, Director Business Services and International Development, APX-ENDEX
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10.40 Morning break
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11.10 Market risk - do recent events show most utilities are measuring the wrong thing?
- What constitutes your portfolio's risk? Is it being captured by your current risk metric?
- Is VaR really relevant for you?
- Did someone forget the "RM" in ETRM?
- Risk measurement - lip service or integrated portfolio management?
Dr Chris Strickland, Director, LACIMA
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11.50 PANEL DISCUSSION
Technology roundtable: can trading and risk management technology keep up with financial market regulation?
- Can technology overcome challenges in real-time reporting of diverse and complex energy derivative products?
- Overcoming challenge of changes to position limits
- Dealing with a move of OTC derivatives trading onto an exchange
- Modernising and upgrading your system: in-house build versus vendor solution
Moderator: Dr Chris Strickland, Director, LACIMA
Rob Pringle, Director of Global IT, GAZPROM MARKETING & TRADING
James Davies, Head of Sales & Business Development, TRAYPORT
Saeed Patel, Head of Investment Portfolio Management, EDF TRADING
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12.40 Lunch
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13.30 Impact of demand from China & India on world oil prices
- Drivers of world oil prices
- Structural break and possible new drivers
- Is demand from China and India a new driver of world oil prices?
- What is the empirical evidence?
Dr Sharon Xiaowen Lin, Faculty of Finance, CASS BUSINESS SCHOOL
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14.10 Limitations of stochastic simulation techniques for corporate energy risk metrics
- Overview of the Corporate risk indicators
- Quantitative limitations
- - Wide range of energy market specificities
- - Challenges due to new market design
- Qualitative limitations
- - Communicate and explain the consolidated risk figures
- - Economic thinking vs financial thinking (explicative variables)
Mathieu Dancre, Head of Commodity Market Risk, GDF SUEZ
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14.50 Afternoon refreshment break
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15.20 The role of weather variables in modelling electricity loads and prices
- Evaluating the impact of temperature on short term demand models
- The importance of different hydro scenarios for mid-long term forecasts
- Meta-analysis of existing empirical studies of weather effects on energy variables
Elisa Scarpa, Head of Market Analysis & Forecasting, EDISON TRADING
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16.00 Seasonality and volatility in continental power markets
- Seasonality in continental spot power markets
- Volatility in continental spot power markets
- Evolution of volatility in continental power markets
Matteo Gabanelli, Head of Power Market Analytics, A2A TRADING
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16.40 Chairman's closing remarks and end of conference
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