Author name: Nikola

Fragmented rules, unified risk

Energy markets in Europe operate under a paradox. Physically and financially, they have become deeply integrated. Regulators, however, still govern

Traders as systemic players

In an integrated energy system, traders are no longer peripheral actors arbitraging price differences at the margin. They have become

Hedging without isolated markets

Hedging strategies are built on assumptions. For much of Europe’s energy-market history, the central assumption was that risks could be

Portfolio management in a multi-fuel world

Energy portfolio management was once a relatively linear exercise. Power desks optimised generation and hedging within electricity markets. Gas desks

From batteries to gas storage

Flexibility is not a single technology or asset class. It is a portfolio of capabilities that operate across timescales, fuels,

Flexibility as the new currency

In today’s energy markets, value is no longer defined primarily by volume or capacity. It is defined by flexibility. The

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