The Demise of the Energy Marketing Industry: An Industry in Decline?
Article from: OGEL 4 (2003), in Economic and Commercial Context for Oil, Gas and Energy Law
Summary
The rise and fall of Enron, and the energy marketing conglomerates, has been well documented. As the industry moves into 2003, only a few of the energy merchant companies remain. The trading business is a mere shadow of what it once was. Volumes have fallen significantly, and liquidity of medium and long-term energy markets has fallen to unprecedented lows. While a number of the energy merchant companies have retrenched and/or disappeared, the 'speculative' transition period is still far from over. That is the sale, write down and redistribution of the existing asset base. ...