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Who's Who of Deregulation Here is an overview of the different entities in a deregulated market. PUCT: The Public Utilities Commission of Texas regulates and implements legislation of the state's util... READ MORE >

On behalf of the team at 5, I am pleased to forward our November market letter. This letter discusses: (i) the upcoming Mid-Term Elections, and how the results could impact energy policy; and (ii) the... READ MORE >

Forward commodity markets were created to allow market participants to mitigate price risk for a given commodity. Long before the world ran on oil and natural gas, agricultural commodities traded in t... READ MORE >

Often in commodity trading, it isn’t always the straight-forward market drivers that catch the market off guard. Rather it’s the counter-intuitive things that seem to side-swipe a market. Lately, ther... READ MORE >

Leaves are changing and temperatures are falling, which can only signify one thing: PJM’s coincidental peak season is behind us. In PJM, there are five Coincidental Peaks (5CP) that are determined by ... READ MORE >

There is no doubt that the rapid growth of utility-scale solar in Texas has helped the state meet its ever-increasing electricity demand during hot and dry summer afternoons. The 10X increase in solar... READ MORE >

Imagine the reaction of a modest homeowner in America who received an invoice from their electric utility that was more than $1,000 per month, or a monthly natural gas bill that exceeded $500. While t... READ MORE >

As the calendar flips from August to September, ICAP management season is winding down, school is back in session and both the Mets and the Yankees are in first place. And while this summer was pretty... READ MORE >

Earlier this year, we wrote an article describing the rapid acceleration of price volatility in the natural gas markets, with a chart that showed daily price movement at the Henry Hub, the national be... READ MORE >