Energy Risk Summit 2015

Day 1, 24 June, Wednesday 

08.00 Registration and refreshments

08.50 Chairman’s opening remarks

09.00 OPENING KEYNOTE

Topic to be confirmed

Olivier Herbelot, Group Chief Risk Officer,  Centrica

09.40  RISK PANEL DISCUSSION: Evolution of energy trading and risk management  - long term risks and market expectations 

• What are the biggest risks facing the industry?

• Challenges in managing short term risks (primarily position management and regulatory compliance) and dealing with longer term strategic risks

• Dealing with the impact of quantitative easing and low crude oil prices

• Risk management strategies for  applying financial regulation to physical markets

• What do you see as next emerging risks for your company?

• How do RM tools need to evolve to meet the needs of the future?

• What demands does the new market reality make of risk management

David Port, Chief Risk Officer, E.ON Global Commodities

 

10.20 PANEL DISCUSSION: REMIT trade reporting implementation – the challenges of applying financial regulation to physical markets 

• How ready are market participants to begin reporting their physical and financial energy trades?

• What changes do firms have to make?

• What are the grey areas and uncertainties?

Marcel Steinbach, Head of Energy Trading Department, BDEW - German Association of Energy and Water Industries

Mark Husler, CEO, UnaVista, LSEG

Dr. Cornelia Kawann, Head of Market Surveillance, Swiss Federal Electricity Commission - ElCom

Geoff Boon, Head of Energy Markets, Remit, E-Control

11.00 Morning break 

11.40

Steam 1 Sharing the regulatory burden –the role of exchanges

• Exchange as RRM –registered reporting mechanism (under Remit)

• Clearing bilateral trades and the importance of an exchange

Speaker to be confirmed, please check energyriskevents.com/Europe for further updates

Stream 2 Case study: Managing Big Data.Turning Big Data into big opportunities

• How is big data being used and helps reduce costs or increase revenue?

• Are you prepared to integrate and analyse big data to improve decision making and pursue growth?

• How can you take advantages of its big opportunities? 

• Big Data infrastructure, risk management and compliance  

Speaker to be confirmed, please check energyriskevents.com/Europe for further updates

12.10

Stream 1 Complying with EMIR. Impact of EMIR reporting/clearing on commodity traders

• What have firms found to be the most challenging elements?

• Understanding the margin requirements for OTC clearing

• What has been the business impact of EMIR? Have you had to change or adjust your business to comply with EMIR?

David Beier, Financial Market Regulation, Wingas

Stream 2 What’s next for ETRM systems? Evolving in response to regulatory changes and structural market shifts

• How is your technology helping to address the fundamental changes in the market? Regulatory requirements?  How does it support traders?

• Will mature providers be able to enter new markets, evolve their products, evolve with the market to new challenges? 

• Will their products be a sufficient fit to consumer requirements?  Will they serve the need for increased IT security?

Speaker to be confirmed, please check energyriskevents.com/Europe for further updates

12.40 Lunch and opportunity to visit the exhibition

13.40

Stream 1 Being caught under Mifid II - assessing the impact on commodity trading firms

• Where do companies stand in regards to Mifid?

• How big do you see the risk to have to change your business model in light of the licensing rules, position limits etc

• Capital requirements under Mifid II

• Concerns over compliance with CRD IV

• How will the tightened exemptions affect different types of market participant?

• Which types of trading venue will OTF apply to?

• Understanding and managing the interface between Emir/Remit/Mar/CRD IV/Mifid II

Walter Bernhard, Market Design & Regulatory Affairs,  EnBW Trading

Vincent Derbali, Financial Policy Adivisor - Commodities Market, French Financial Markets Authority 

Peter Biltoft-Jensen, Head of Regulatory Affairs, Gas and Trading, Dong Energy

Stream 2 Advances in fundamental modelling of energy prices formation and risk

• Market inefficiency, illiquidity & unpredictability – which one is the worst? 

• Fundamental modelling of energy portfolio operation risk and optimisation – the PLEXOS integrated energy model

• Power assets portfolio risk modelling and management challenges ahead 

• Budget and risk constrained LT planning with PLEXOS

Dr Christos Papadopoulos, Regional Director Europe, Energy Exemplar

14.20

Stream 1 PANEL: Future of counterparty risk management

• How to monitor and control credit risk? Best practices

• How much has the strategy for dealing with CR changed over the years? More CSAs? Bilateral margining? OTC clearing?

• How is credit appetite changing in Europe when trading commodities?

• Will OTC disappear and integrate into mandatory trading? Migration to clearing and exchanges

Jonathan Howard, Head of Credit, Novatek Gas & Power

Further speakers to be confirmed, please check energyriskevents.com/Europe for further updates

Stream 2 Scenario based approaches for risk management

Tobias Sperr, Director Hedging, Asset Optimisation and Trading/Portfolio Management, Vattenfall 

15.00 Afternoon break

15.30 Benchmark pricing – the impact on the commodity markets

• Does the EU benchmark plan sufficiently address the needs of commodities markets?

• Are commodity benchmarks open to manipulation?

• The effect of the proposal on price reporting agencies (PRAs) and exchanges

Speakers to be confirmed, please check energyriskevents.com/Europe for further updates 

16.10  THOUGHT LEADERSHIP PANEL

• The state and future of energy trading

• Liquidity issues

• The effect of international politics on the energy market

• Future energy mix

Jean-Marc Bonnefous, Managing Partner, Tellurian Capital

Further speakers to be confirmed, please check energyriskevents.com/Europe for further updates

16.50 Chairman’s closing remarks 

17.00 Cocktail reception

Day 2, 25 June, Thursday

08.30 Registration and refreshments 

09.00 Chairman’s opening remarks

09.10 KEYNOTE ADDRESS

Topic to be confirmed

Edouard Neviaski, Chief Executive Officer, GDF SUEZ Trading

09.50  Interview on stage by Mark Pengelly, Editor, Energy Risk 

We discuss how the energy market evolved over the last decade and what is on the horizon

10.20 PANEL: Managing oil price risk - what is a sensible strategy in the situation of low oil prices?

• Managing oil price risk - available instruments to protect your  investments from the wild fluctuations of market forces

• Impact of the low prices on risk management and lessons to be learnt

• Addressing the oil price from a medium term fundamental basis (what are the long term cost implications of slumping steel prices, the large number of discoveries, the recent build out in rigs?)

Richard Fullarton, Senior Energy Derivatives Trader for Crude Oil, Glencore 

Further speakers to be confirmed, please check energyriskevents.com/Europe for further updates

11.00 Morning break

11.30 The future of the European Union Emissions Trading System

• Political backing of EU carbon market 

• Back-loading and MSR (Market Stability Reserve) – impact on prices and supply and demand dynamics

• Trading activity on the emissions market 

• How poor is liquidity in the EU ETS and what can be done to rescue the market?

• Risk management strategies in light of higher prices and increased exposure to carbon

• Possible future scenarios of carbon market development. Where will new trading volume come from?

Speakers to be confirmed, please check energyriskevents.com/Europe for further updates

12.10 PANEL: Gas supply and demand and gas pricing dynamics

• Gas hub development and continuing shift away from oil indexation

• How the transition to exchanged-based gas trading is being managed

• What is the impact of current developments on gas price formation

• Recent developments in continental EU S&D balance

• US LNG export projects and LNG volumes in Europe, pricing issues

• Shale gas potential in Continental Europe, pricing & associated risks

• Implementation and impact of EU gas target model

Iolanda Incontrera, Head of Global Origination, Enel

Ajay Batra, Director, Business Operations, Cheniere Energy

Further speakers to be confirmed, please check energyriskevents.com/Europe for further updates

12.50 Lunch and opportunity to visit the exhibition

13.50 The march of renewables - rise in renewable power generation and advances in technology 

• How does the renewables influx affect energy traders?

• Should onshore wind and PV be laying out a pathway to subsidy free life?

• How can renewable generators better risk-manage their production? Will there be more market oriented payments and subsidies for renewables?

• Review of subsidies to a ‘sustainable level’ - Balancing responsibility and stimulation of aggregation services

• How could the problem of the intermittency of the renewable energy be solved (balanced)? How will the renewables be balanced in the future?

Antonio Lopez-Nicolas Baza, Policy Officer, Renewables and CCS Policy, DG Energy, European Commission

14.30 PANEL: Power market major challenges and further market integration

• Is there a ‘market’ anymore or the support schemes have made very difficult to speak about ‘a market’ but rather of several (not national, but rather per technology) markets?

• The effect of European market coupling on UK and Central Europe. The current state of integration and the current market design. Possible future evolution of the market design

• How electricity market will be produced and priced in the future? Will capacity market find its way? 

• Have we now got a price freeze?

• Market coupling and greater renewables generation. Interconnector regulation and capacity market - different national approaches to capacity market

• Balancing Code Review

• How do you cope with real time consumption data, generation data in order to manage your trading position in real time? 

• What are the prospects for greater competition and additional liquidity?

Stephan Illerhaus, Director Portfolio Management & Energy Trading, SWM Stadtwerke München 

Carsten Poppinga, Head of Trading, Trading and Origination, Statkraft Markets 

Further speakers to be confirmed, please check energyriskevents.com/Europe for further updates

AFTERNOON KEYNOTE ADDRESS: Understanding the changing market fundamentals - Challenges and opportunities ahead for European trader

Speaker to be confirmed, please check energyriskevents.com/Europe for further updates

15.50 Chairman’s closing remarks and afternoon refreshments 

16.20 End of Energy Risk Europe Summit 2015