Rating: 
Summary: Excellent, timely introduction to major new global markets
Review: This timely and useful book introduces the many new markets for energy futures and derivatives to readers who are conversant with the basics of risk and finance. In the U.S. these markets have grown with the deregulation of gas and electricity, and they will grow further as states begin allowing consumers of all sizes to bypass local utilities and trade with suppliers of their choice. Because the underlying volatility of gas and electricity prices exceeds that of any other major commodities, consumers and marketers must become familiar with a new range of financial instruments that will help them to cope with new risks. Most readers will have little difficulty navigating chapters that introduce the basic instruments and the history and institutions of the markets in which they are traded. (Even for those who don't know much, there is as good an introduction as I have ever seen to the basics of the Black-Scholes option pricing model and the analysis of Value-at-Risk.) Fusaro and other authors then proceed to lead the reader on chapter-long tours of markets that range across the world, from Asian oil to European Electricity, and extend in time to markets still in formation such as U.S. coal futures. For all the book's virtues, Fusaro did choose to include a chapter on "technical analysis" of price charts that is straight out of the "How I Made a Million..." genre. This book isn't for that type of reader. It is for people who will have to live with market reality in the future and want a head start in understanding it today.
Rating: 
Summary: Energy Derivatives: Trading Emerging Markets
Review: Until Peter Fusaro's book "Energy Risk Management" hit the bookstores in 1998, anyone needing a clear explanation of how risk is managed in the energy markets had to sift through numerous trade publications and journals. This was genergally the reaction of any industry participant I spoke to, independently of whether they were clients, students or collegues of mine both from the Energy community or from academia. Therefore, with this feedback, I would strongly encourage my collegues to read Peter Fusaro's new book "Energy Derivatives: Trading Emerging Markets" which he edited with Jeremy Wilcox and was published in October of this year. In this book Peter Fusaro and his team of energy professionals take the reader deeper into the secondary markets (energy derivatives, etc.) which have emerged as a result of the deregulation process of the Energy Industry and, most importantly, the book explains how to use these markets to manage energy risk. Further, in chapter 3, 4, 5 and 6 the reader is introduced to the concept of interdependency among energy markets and other related markets. These include weather and weather derivatives, emission trading and bandwidth - the most recently emerging market converging with Power to become the backbone of the new global economy. This is the first book to address the complex topic of convergence of power and the rapidly growing bandwidth market. For this reason alone this book becomes a must for everyone who is interested in becoming a part of the evolving energy market.
Rating:
Summary: Energy Derivatives: Trading Emerging Markets
Review: Until Peter Fusaro's book "Energy Risk Management" hit the bookstores in 1998, anyone needing a clear explanation of how risk is managed in the energy markets had to sift through numerous trade publications and journals. This was genergally the reaction of any industry participant I spoke to, independently of whether they were clients, students or collegues of mine both from the Energy community or from academia. Therefore, with this feedback, I would strongly encourage my collegues to read Peter Fusaro's new book "Energy Derivatives: Trading Emerging Markets" which he edited with Jeremy Wilcox and was published in October of this year. In this book Peter Fusaro and his team of energy professionals take the reader deeper into the secondary markets (energy derivatives, etc.) which have emerged as a result of the deregulation process of the Energy Industry and, most importantly, the book explains how to use these markets to manage energy risk. Further, in chapter 3, 4, 5 and 6 the reader is introduced to the concept of interdependency among energy markets and other related markets. These include weather and weather derivatives, emission trading and bandwidth - the most recently emerging market converging with Power to become the backbone of the new global economy. This is the first book to address the complex topic of convergence of power and the rapidly growing bandwidth market. For this reason alone this book becomes a must for everyone who is interested in becoming a part of the evolving energy market.
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