We investigate how financial market participants value energy accidents. We employ an event study to look into the response of stock markets to 209 accidents. These accidents were derived from Sovacool’s (2008) database on major energy accidents from 1907 to 2007. It appears that the stock...

Energy companies can adjust the estimation of their reserves. We investigate how these revisions impact on the value of these firms. We analyze 100 revisions in seventeen countries for the period 2000-2010. We use an event study and find that the revisions of energy reserves significantly impact...

We investigate if and how gas price volatility can be explained on the basis of market fundamentals. We depart from the Kanamura (2009) supply and demand based volatility model. We generalize this model to account for a variety of demand and supply relationships. We investigate daily natural gas...

We investigate how electricity markets relate to emission allowance prices. We analyze the price determinants of the European Allowance Units' returns and account for exchange specific effects. We employ a Threshold GARCH (Generalized Autoregressive Conditional Heteroskedasticity) model and,...