Foundations of Energy Risk Management. An Overview of the Energy Sector and Its Physical and Financial Markets

Gain a deeper understanding of the issues surrounding financial risk and regulation Foundations of Financial Risk details the various risks, regulations, and supervisory requirements institutions face in today's economic and regulatory environment. Written by the experts at the Global Association of Risk Professionals (GARP), this book represents an update to GARP's original publication, Foundations of Banking Risk. You'll learn the terminology and basic concepts surrounding global financial risk and regulation, and develop an understanding of the methods used to measure and manage market, credit, and operational risk. Coverage includes traded market risk and regulation, treasury risk and regulation, and much more, including brand new coverage of risk management for insurance companies. Clear explanations, focused discussion, and comprehensive relevancy make this book an ideal resource for an introduction to risk management. The textbook provides an understanding of risk management methodologies, governance structures for risk management in financial institutions and the regulatory requirements dictated by the Basel Committee on Banking Supervision. It provides thorough coverage of the issues surrounding financial risk, giving you a solid knowledgebase and a practical, applicable understanding. Understand risk measurement and management Learn how minimum capital requirements are regulated Explore all aspects of financial institution regulation and disclosure Master the terminology of global risk and regulation Financial institutions and supervisors around the world are increasingly recognizing how vital sound risk management practices are to both individual firms and the capital markets system as a whole. Savvy professionals recognize the need for authoritative and comprehensive training, and Foundations of Financial Risk delivers with expert-led education for those new to risk management.

Thought leaders and experts offer the most current information and insights into energy finance Energy Finance and Economics offers the most up-to-date information and compelling insights into the finance and economics of energy. With contributions from today's thought leaders who are experts in various areas of energy finance and economics, the book provides an overview of the energy industry and addresses issues concerning energy finance and economics. The book focuses on a range of topics including corporate finance relevant to the oil and gas industry as well as addressing issues of unconventional, renewable, and alternative energy. A timely compendium of information and insights centering on topics related to energy finance Written by Betty and Russell Simkins, two experts on the topic of the economics of energy Covers special issues related to energy finance such as hybrid cars, energy hedging, and other timely topics In one handy resource, the editors have collected the best-thinking on energy finance.

Features coverage of the service systems lifecycle, including service marketing, engineering, delivery, quality control, management, and sustainment Featuring an innovative and holistic approach, Service Science: The Foundations of Service Engineering and Management provides a new perspective of service research and practice. The book presents a practical approach to the service systems lifecycle framework, which aids in understanding and capturing market trends; analyzing the design and engineering of service products and delivery networks; executing service operations; and controlling and managing the service lifecycles for competitive advantage. Utilizing a combined theoretical and practical approach to discuss service science, Service Science: The Foundations of Service Engineering and Management also features: Case studies to illustrate how the presented theories and design principles are applied in practice to the definitions of fundamental service laws, including service interaction and socio-technical natures Computational thinking and system modeling such as abstraction, digitalization, holistic perspectives, and analytics Plentiful examples of service organizations such as automobile after-sale services, global project management networks, and express delivery services An interdisciplinary emphasis that includes integrated approaches from the fields of mathematics, engineering, industrial engineering, business, operations research, and management science A detailed analysis of the key concepts and body of knowledge for readers to master the foundations of service management Service Science: The Foundations of Service Engineering and Management is an ideal reference for practitioners in the contemporary service engineering and management field as well as researchers in applied mathematics, statistics, business/management science, operations research, industrial engineering, and economics. The book is also appropriate as a text for upper-undergraduate and graduate-level courses in industrial engineering, operations research, and management science as well as MBA students studying service management.

Praise for Energy and Power Risk Management «Energy and Power Risk Management identifies and addresses the key issues in the development of the turbulent energy industry and the challenges it poses to market players. An insightful and far-reaching book written by two renowned professionals.» -Helyette Geman, Professor of Finance University Paris Dauphine and ESSEC «The most up-to-date and comprehensive book on managing energy price risk in the natural gas and power markets. An absolute imperative for energy traders and energy risk management professionals.» -Vincent Kaminski, Managing Director Citadel Investment Group LLC «Eydeland and Wolyniec's work does an excellent job of outlining the methods needed to measure and manage risk in the volatile energy market.» -Gerald G. Fleming, Vice President, Head of East Power Trading, TXU Energy Trading «This book combines academic rigor with real-world practicality. It is a must-read for anyone in energy risk management or asset valuation.» -Ron Erd, Senior Vice President American Electric Power

Energy Budgets at Risk (EBar)® provides everyone from facility energy managers and financial managers to government policy-makers and electric utilities program planners with the background information required to understand energy cost, price, efficiency, and related issues important in developing a balanced approach to facility energy risk management. Throughout the book, respected energy economist Dr. Jerry Jackson clearly shows how to reduce energy costs and increase cash flows by using risk management concepts developed in the financial industry.

An overview of today's energy markets from a multi-commodity perspective As global warming takes center stage in the public and private sectors, new debates on the future of energy markets and electricity generation have emerged around the world. The Second Edition of Managing Energy Risk has been updated to reflect the latest products, approaches, and energy market evolution. A full 30% of the content accounts for changes that have occurred since the publication of the first edition. Practitioners will appreciate this contemporary approach to energy and the comprehensive information on recent market influences. A new chapter is devoted to the growing importance of renewable energy sources, related subsidy schemes and their impact on energy markets. Carbon emissions certificates, post-Fukushima market shifts, and improvements in renewable energy generation are all included. Further, due to the unprecedented growth in shale gas production in recent years, a significant amount of material on gas markets has been added in this edition. Managing Energy Risk is now a complete guide to both gas and electricity markets, and gas-specific models like gas storage and swing contracts are given their due. The unique, practical approach to energy trading includes a comprehensive explanation of the interactions and relations between all energy commodities. Thoroughly revised to reflect recent changes in renewable energy, impacts of the financial crisis, and market fluctuations in the wake of Fukushima Emphasizes both electricity and gas, with all-new gas valuation models and a thorough description of the gas market Written by a team of authors with theoretical and practical expertise, blending mathematical finance and technical optimization Covers developments in the European Union Emissions Trading Scheme, as well as coal, oil, natural gas, and renewables The latest developments in gas and power markets have demonstrated the growing importance of energy risk management for utility companies and energy intensive industry. By combining energy economics models and financial engineering, Managing Energy Risk delivers a balanced perspective that captures the nuances in the exciting world of energy.

Foundations of Health Care Management Leaders and managers throughout the health care system are facing ever more challenging changes in the way care is delivered, paid for, and evaluated. Foundations of Health Care Management: Principles and Methods offers an innovative, concise, reader-friendly introduction to health care management and administration. It addresses the need for new skills in managers of health care facilities and for those planning to enter health care management positions. The book covers such critical topics as leadership training, change management, conflict management techniques, culture building, quality improvement, and communications skills, as well as collaboration in the improvement of population health. Foundations of Health Care Management also concentrates on innovations and describes steps in the transition to more decentralized and creative approaches to the management of health care facilities. The book covers physician management from the physician's viewpoint, a valuable perspective for health care managers. The book serves important dual purposes for faculty and students by providing both insights into the health care field as well as foundational content on essential management and leadership competencies. A full set of support materials is available for instructors at the book's companion Web site.

Provides a unique overview of energy management for the process industries Provides an overall approach to energy management and places the technical issues that drive energy efficiency in context Combines the perspectives of freewheeling consultants and corporate insiders In two sections, the book provides the organizational framework (Section 1) within which the technical aspects of energy management, described in Section 2, can be most effectively executed Includes success stories from three very different companies that have achieved excellence in their energy management efforts Covers energy management, including the role of the energy manager, designing and implementing energy management programs, energy benchmarking, reporting, and energy management systems Technical topics cover efficiency improvement opportunities in a wide range of utility systems and process equipment types, as well as techniques to improve process design and operation

This handbook shows a firm how to repurpose its risk management in order to design and implement a corporate culture which involves all business units and individuals at each level of the hierarchy, how to analyse its risk appetite, translate it into risk policies and risk targets and distribute responsibilities and capabilities accordingly. The book explains how to identify risk exposure across the enterprise; how to empower each business unit with risk management capabilities; how to create an information workflow for preventative decision making; how to align funding strategies and liquidity management tactics with corporate risk policies and finally, how to deal with risk management in external communications.

Foundations of Risk Analysis presents the issues core to risk analysis – understanding what risk means, expressing risk, building risk models, addressing uncertainty, and applying probability models to real problems. The author provides the readers with the knowledge and basic thinking they require to successfully manage risk and uncertainty to support decision making. This updated edition reflects recent developments on risk and uncertainty concepts, representations and treatment. New material in Foundations of Risk Analysis includes: An up to date presentation of how to understand, define and describe risk based on research carried out in recent years. A new definition of the concept of vulnerability consistent with the understanding of risk. Reflections on the need for seeing beyond probabilities to measure/describe uncertainties. A presentation and discussion of a method for assessing the importance of assumptions (uncertainty factors) in the background knowledge that the subjective probabilities are based on A brief introduction to approaches that produce interval (imprecise) probabilities instead of exact probabilities. In addition the new version provides a number of other improvements, for example, concerning the use of cost-benefit analyses and the As Low As Reasonably Practicable (ALARP) principle. Foundations of Risk Analysis provides a framework for understanding, conducting and using risk analysis suitable for advanced undergraduates, graduates, analysts and researchers from statistics, engineering, finance, medicine and the physical sciences, as well as for managers facing decision making problems involving risk and uncertainty.