In this week's update, we present a very information whitepaper by Greg
Keers, Chairman of KWI, which explains how VAR (value-at-risk) and PAR
(profit-at-risk) are risk measures which should be used together in order to
protect your enterprise and maximise trading profits.  You can learn more
about how risk can affect your trading operations at our Energy, Emissions
and Weather Trading conferences in Amsterdam in just a few weeks' time.  We
have also confirmed that Day 3 of the Emissions Trading event will include a
workshop with exclusive interactive sessions to be led by Baker & McKenzie,
CO2SIM & Strategy Analytics.  Substantial discounts are available for our
subscribers who do not want to miss out on this unique event - see below for
further details.

Our final announcement this week is our second emission trading event, the
Eyeforenergy CO2 Trading USA conference, which will take place in Chicago in
June.  Judging by the interest which has already been generated by the
European variant, this event promises to be a key forum for everyone who is
or will be trading CO2 and GHGs, in order to alleviate risk and, in some
cases, generate untapped profit.  Be sure to take a closer look, especially
if you are interested in getting involved...

Bruno Russell
mailto:bruno@eyeforenergy.com


CONTENTS:

   -  WHITE PAPER: Taking the Corporate Risk out of Power Trading

   -  NEW EVENT ANNOUNCEMENT - CO2 Trading USA 2002

   -  EVENT DISCOUNT FOR EYEFORENERGY BRIEFING SUBSCRIBERS!

   -  EVENTS RUNDOWN

   -  RECENT HEADLINES


WHITE PAPER: Taking the Corporate Risk out of Power Trading
             by Greg Keers, Chairman, KWI

Trading in power is not for the faint hearted. Supply and demand change by
the hour, which can cause extreme volatility in prices at the moment power
companies are committed to delivering to their customers. Any kind of
shortage at this point and prices will spike to the value of the lost load,
which may be many times more than the cost of supply. In the United States,
summer price spikes from $20 per MWh to $2,000 per MWh are not uncommon...

Read the full article here:
http://www.eyeforenergy.com/content.asp?news=25127


NEW EVENT ANNOUNCEMENT

* CO2 TRADING USA 2002
  The Radisson Hotel, Chicago
  19-21 June 2002

Interest in Eyeforenergy's forthcoming conference Emissions Trading Europe
2002 was high long before the program was even published (if you hurry you
might still be able to register!).  In the light of this success, we are
extending our emissions trading series of events to the U.S.A.

CO2 Trading USA 2002 will take place 19-21 June at The Radisson Hotel,
Chicago.  The website has just gone live, invitations have been sent to
industry speakers, and sponsorship offers are being discussed.  To get
involved, simply register your interest at
http://www.eyeforenergy.com/co2usa, email Sarah Robinson at
mailto:srobinson@eyeforenergy.com or call +44 20 7375 7555.


DISCOUNT FOR EYEFORENERGY BRIEFING SUBSCRIBERS

With February's co-located Energy, Weather and Emissions Trading conferences
in Amsterdam less than three weeks away, we are quickly running out of
allocated tickets for what promises to be an invaluable and unique forum for
discussions and networking.  As an Eyeforenergy Briefing Susbcriber, we
would like to offer you the best chance to attend these conferences.  We are
therefore offering a 20% DISCOUNT to all subscribers who register for one of
these conferences by next Thursday 7th February 2002.  Simply mention
'Eyeforenergy Briefing' at the point of registration to be eligible.  More
information about these events is available further down this newsletter...

EVENTS RUNDOWN

* EEO Europe: Energy Trading in the New Economy
  Hotel Okura, Amsterdam
  19-21 February 2002

Following up for our sell-out conference in Phoenix, December 2001 that was
attended by over 250 CEO's, senior executives and press, and Energy
Exchanges Online II:  Energy Trading in the New Economy USA (September
2001), Eyeforenergy brings you the premier networking and discussion
conference for the energy trading community.  Meet, do business and discuss
the big issues over 2 days with the leaders in energy trading in Amsterdam.

To find out more information, including discounts for pre-registration,
speaking, sponsoring and exhibiting opportunities, click here:
http://www.eyeforenergy.com/eurotrading


* Emissions Trading 2002
  Hotel Okura, Amsterdam
  19-21 February 2002

Eyeforenergy is delighted to announce the workshop sessions for day 3 of the
Eyeforenergy Emissions Trading Europe 2002 event, just three weeks away in
Amsterdam. On Thursday, 21st February, delegates will benefit from exclusive
interactive sessions to be led by Baker & McKenzie, CO2SIM & Strategy
Analytics.

Our workshop leaders join an all-star cast of speakers: BP, Elsam, Shell,
Rolls Royce, RMC Group, the European Commission and many more. Full
programme details are available at
http://www.eyeforenergy.com/emissions/programme.shtml

Places for the event are selling out fast! Make sure you register today at
http://www.eyeforenergy.com/emissions/registration.shtml


* Weather Trading 2002
  Hotel Okura, Amsterdam
  19-21 February 2002

Today's business is all about risk and how to mitigate it. Weather
derivatives has become one of the key tools industries as wide ranging at
utilities, airlines, and agriculture have at hand to off-set risks
associated with temperature and precipitation.  With over 70% of Europe's
companies facing weather-related risk, knowing about the latest advances in
weather trading is a necessity.

Eyeforenergy's latest event will be run in conjunction with our European
online trading conference, Energy Trading in the New Economy, and
Eyeforenergy's Emissions Trading 2002 event, so you can learn about the
latest developments in energy and emissions trading all under one roof.

Click here for further information:
http://www.eyeforenergy.com/weather


* Energy Exchanges Online III
  Sheraton Hotel, New Orleans
  19-21 September, 2002

Now in its 3rd Year!!  Energy trading has never been more important or more
important than today. New systems and software continue come onto the
market... market leaders find themselves out of business... trading
portfolios continue to expand into new energy types and new derivatives...

Where can you go to network with the important players in the field? Where
can you get expert appraisal of your risk strategies? Where can you find out
about the latest trading tools that can make your operations more efficient
and more secure? The answer is New Orleans this September at the Energy
Exchanges Online conference and exhibition.

For more information, go to:
http://www.eyeforenergy.com/eeo3


LATEST HEADLINES

North and South Carolina Auditors Take on Duke Power
http://www.eyeforenergy.com/content.asp?news=25289

Andersen "Overlooked" $644 Million in NASA Audit
http://www.eyeforenergy.com/content.asp?news=25288

Shell WindEnergy Adds Llano Estacado Wind Ranch to Portfolio
http://www.eyeforenergy.com/content.asp?news=25287

Mirant Bounces Back, Reassures Investors
http://www.eyeforenergy.com/content.asp?news=25286

New York City Moves to reduce CO2 Emissions
http://www.eyeforenergy.com/content.asp?news=25285

Amid Reports to Contrary ChevronTexaco Fails to Move on Phillips or Conoco
http://www.eyeforenergy.com/content.asp?news=25284

Enron's Cooper Reveals New Game Plan
http://www.eyeforenergy.com/content.asp?news=25283

Williams Says Credit Downgrade "Overreaction"
http://www.eyeforenergy.com/content.asp?news=25282


------------------------------------------------------------
This update is provided as part of the free Eyeforenergy Briefing service.
In addition to these updates, you will receive a comprehensive newsletter
every
other week, with fresh in-depth analysis, reports and insights into the
issues currently affecting different areas of the energy industry.

To subscribe,
email:   <mailto:energynews-subscribe-request@peach.ease.lsoft.com>
or alternatively send a message to
         <mailto:bruno@eyeforenergy.com?Subject=BriefingSubscribe>

To unsubscribe,
email:   <mailto:energynews-signoff-request@peach.ease.lsoft.com>
or alternatively send a message to
         <mailto:bruno@eyeforenergy.com?Subject=BriefingUnSubscribe>