Energy trading and risk management in a shifting regulatory and macro environment

Transcription

1 To be used in top-left placement ENERGY RISK PRESENTS THE 5TH ANNUAL ALIGN WITH LEFT SIDE OF TYPE AREA OR MASTHEAD To be used in bottom-left placement 3 December 2013, Vienna Energy trading and risk management in a shifting regulatory and macro environment ALIGN WITH BOTTOM TRIM EDGE Regulatory impact Trading challenges Market integration Risk management Featured highlights: 20+ expert speakers 3+ plenary discussions 80+ energy professionals THE PREMIER EVENT FOR THE CEE ENERGY COMMUNITY! High profile speaker line-up includes: Walter Boltz, Executive Director, E-CONTROL Wolfgang Henle, VP Controlling and Risk Management, AUSTRIAN AIRLINES Roman Szyszko, CFO, ENERGA Tahir Kapetanovic, Head of National Control Centre, AUSTRIAN POWER GRID Bartosz Krysta, Head of Risk Evaluation Office, TAURON Dr Gábor Erős, Legal Counsel, MVM Zoltan Nagy, Energy Manager, Eastern Europe & Middle East Central Procurement, LINDE GAZ Erik Kolstö, Commercial Management Supply & Capacity Russia, RWE SUPPLY & TRADING David Viduna, Head of Long Term Origination, CEZ Sponsor: Panel sponsor: In association with: Hosted by: Follow us: #EnergyRiskCEE

2 Dear Colleague, European energy trading firms are facing a range of challenges. The continent s economic backdrop remains depressing. At the same time, market participants face a maze of new EU rules that will affect trading activity. They include Emir, Remit and Mifid II, as well as changes to energy market design and the subsidies on offer for renewable power. The EU is also continuing its push for a more integrated European electricity and gas market something that will have a profound impact on Central and Eastern Europe. Meanwhile, regulators across the globe have been ramping up efforts aimed at curbing market manipulation through commodity indexes, including those published by price reporting agencies. 3 December 2013, Vienna Amid this backdrop, energy firms need to continue to trade and work hard hedging the risks associated with their business, while ensuring they are keeping their practices fully up-to-date in areas including counterparty risk, market risk and volumetric risk. Reporting and IT infrastructure may need to be upgraded to cope with new compliance requirements thrown up by the new rules, while firms will also have to deal with the changing landscape of the physical energy market for example, the emergence of shale oil and the intermittency associated with increases in renewable generation. Now in its 5th year, Energy Risk Central & Eastern Europe is a great place to listen to thought leaders opine on these issues, network with fellow industry participants and work out how the market can best move forward. Among other things, the event includes senior industry figures and top regulators discussing critical issues such as Remit, natural gas infrastructure, market coupling, corporate energy risk management and central clearing. Sponsorship opportunities: Contact Peter Petkov: E: peter.petkov@incisivemedia.com T: +44 (0) To cap it all, Energy Risk Central & Eastern Europe is the only conference in the region that draws on the smart, sophisticated and intelligent journalism found in Energy Risk magazine. On behalf of myself and my colleagues at Energy Risk, I hope you find it useful. To register: T: +44 (0) E: cs@incisivemedia.com W: Mark Pengelly Editor, Energy Risk

3 Who should attend? The following job titles: CEO CRO CFO Head of Commodity Research Head of Risk Management Head of Risk Control Head of Origination Head of Market Regulation Head of Power Markets Head of Gas Markets Head of Compliance Head of Quantitative Research By company: Energy companies Utilities Trading houses Investment banks Exchanges Regulators and industry associations Head of Commodities Head of Trading Corporate Risk Manager Enterprise Risk Manager Market Risk Manager Risk Analyst Credit Analyst Market Analyst Financial Engineer Portfolio Manager Structurer Trader Economist Energy services providers Clearing houses Professional services firms Risk management consultancies Software providers Hedge funds WHY ATTEND? Endorsed by the reputable publication, Energy Risk magazine, which is renowned in Europe for its timely and thought provoking material for energy traders and risk managers Senior level experts from across the region will be speaking to you about the latest developments taking place in the energy market including Czech Republic, Hungary, Poland, Austria and Germany Receive a thorough update on market coupling, energy trading, risk management and regulatory implications for commodity markets in CEE region The conference will be held in English to allow representatives from across CEE to benefit from attending and learning from other businesses Be a part of the global Energy Risk community and one of the most established events of its kind What delegates said about the 2012 conference: Great coverage and good participation. An excellent opportunity to meet people and to gain a better understanding of new developments CEE Regulatory Advisor, EDF TRADING The conference was focusing on the actual energy problems of the CEE region via interesting and various topics Business Development Manager, IP SYSTEMS Very good organisation. Interesting and up to date views on CEE market and its development Risk Manager, OMV As many interesting topics about risk in the energy sector as it is possible to have in one day Senior Specialist, PSE OPERATOR S.A. Very interesting to see the potential developments in the CEE region over the next few years Consultant, COMMODITY APPOINTMENTS

4 Tuesday, 3 December 2013, Vienna MORNING AGENDA Registration and refreshments Chairman s opening remarks OPENING KEYNOTE: Challenges and opportunities for the wholesale energy markets in CEE region How are regulators, TSOs and market participants shaping up to the challenges? How may the market evolve in the next years? Walter Boltz, Executive Director, E-CONTROL 9.30 PANEL DISCUSSION: Uncertainty over the impact of new European Union rules on energy traders Emir and Remit impact on liquidity Mifid II fears what changes will the full implementation bring for energy trading firms? Potential impact of the regulation on minimum capital requirements (capital rules of Mifid II) on OTC derivatives trade The impact on liquidity and the increase of the operational costs Dr. Gábor Erős, Legal Counsel, MVM Zsuzsanna Sessel-Zsebik, Head of General Law, E.ON ENERGY TRADING Other speakers to be confirmed PANEL DISCUSSION: The challenges of transaction reporting and central clearing Impact on counterparty risk and market liquidity Addressing challenges in clearing and settlement Product evolution and pricing Processes and systems implications for central clearing Dan Smith, Head of Market Development, TRAYPORT Other speakers to be confirmed Morning break Tough questions, smart answers in energy trading: pricing, profiling and risk management Procurement management: trading support, internal pricing Consumer and partner classification: profiling, counterparty risk analysis Position and exposure management: measuring and avoiding risk Dr. Gergely Mádi-Nagy, Senior Consultant, IP SYSTEMS CORPORATE ADDRESS: Fuel hedging in airlines - How to transform risk into a real threat Most prominent risks of an airline Hedging strategies and risk coupling To win the bet: The most dangerous risk Wolfgang Henle, VP Controlling and Risk Management, AUSTRIAN AIRLINES Power market situation for end-users in the CEE region in the end of 2013 EU regulation effort to influence the power market (customers view) Physical power market: offers, prices and market couplings End-user power prices: support of renewables, grid capacity mechanisms and taxes Power purchase strategies of energy intensive industrial customers: spot and long term markets, prices and risks Influence of local currency rate changes to the purchase strategy in the regions Dr. Zoltan Nagy, Energy Manager, Eastern Europe & Middle East Central Procurement, LINDE GAZ Lunch

5 Tuesday, 3 December 2013, Vienna AFTERNOON AGENDA Essential factors shaping current conditions of power market development in the region Cost of energy for final users as factor influencing the rate of economic growth Integration of RES in the market as energy security factor Costs and benefits of energy diversification Roman Szyszko, CFO, ENERGA Efficient transmission for facilitating cross-border trade Transmission efficiency vs. volatility The importance of ID and close-to-real time operational planning Maintaining operational security and supporting trade Challenges and prospects for the future Tahir Kapetanovic, Head of National Control Centre, AUSTRIAN POWER GRID New challenges in risk measurement due to power market environment changes How energy companies risk profile is being changed? How to calculate price volatility for risk measurement needs, considering downward market trend? What hedging mechanism is the most effective suits the best market situation? Forward curve imperfection misleading effect of economy (contango, backwardation) How companies risk appetite would be adjusted? Bartosz Krysta, Head of Risk Evaluation Office, TAURON Afternoon break The role of exchanges in CEE Inefficiencies within the existing market structure and how can exchanges and vendors help What pricing model is most appropriate for the European energy markets? (capped, etc.) How many exchanges are required for healthy competition? How can exchanges help lighten the regulatory burden on market participants? What are the core decisions trading firms make before entering new markets? Speaker to be confirmed ROUNDTABLE: New gas landscape in the CEE region Energy security issues - can the CEE region diversify away from Russia How can we boost alternative supply sources and storage? How do the market and the players adapt to the new reality (South Stream vs TAP) Is the price of gas essential for making the region more competitive? Continuing impact of the legacy of long-term gas supply contracts on the different CEE gas markets Erik Kolstö, Commercial Management Supply & Capacity Russia, RWE SUPPLY & TRADING Michael LaBelle, Assistant Professor, CENTRAL EUROPEAN UNIVERSITY (CEU) David Viduna, Head of Long Term Origination, CEZ Other speakers to be confirmed Chairman s closing remarks. Cocktail reception #EnergyRiskCEE Sponsorship opportunities: Contact Peter Petkov: E: peter.petkov@incisivemedia.com T: +44 (0) To register: T: +44 (0) E: cs@incisivemedia.com W:

6 SPONSORS Sponsor In association with IP Systems develops, implements and operates IT platforms (IPs) for players in the energy market. Our award winning software products offer transparent, market-based solutions that comply with EU regulations. We cover the whole energy spectrum: from forecasting consumption to accounting for traders, and from capacity management to allocation for system operators. Our solutions provide new business opportunities and can be used as installed software or as clouse service. We also have custom developments service, offering a significant competitive advantage. Panel sponsor Founded in 2007, Investing.com is the definitive trader s and investor s resource, a leading-edge financial web portal delivering tools and information related to currencies, commodities, bonds and stocks--in short, all aspects of the global financial markets. Investing.com 18 language sites each deliver a broad array of both localized and world market intelligence including real-time quotes, streaming charts, a comprehensive economic calendar, up-to-the-minute financial news and in-depth opinion and analysis on every aspect of the markets and the global economy. The site also features a broker s directory and brokerage listings as well as an active arena for social traders. Trayport is a leading provider of energy trading solutions to traders, brokers and exchanges worldwide. We develop, deploy and support quality, resilient software for trading in any asset class worldwide in cleared or OTC markets. Trayport s GlobalVisionSM software is used by the world s largest trading companies in high profile markets that include derivative and cash instruments. Founded in 1993, Trayport has offices in London, New York and Singapore. Trayport is a subsidiary of GFI Group Inc. (NYSE: GFIG). More information is available at The Daily Energy Report was created to give viewers the opportunity to get the daily scoop on what s going on in the world of energy. This show features segments about the day s energy events, but also highlights the issues and people that are changing the way we look at the energy industry. dailyenergyreport.com

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