Whilst this month’s mild temperatures across Europe have been pleasant to many of us, they represent a very real financial risk for energy providers, who sell much less electricity and gas than during a cold year due to a reduction in use of heating appliances. In fact, during the first 3 weeks of January, temperatures reached their highest levels since 2010, with a significant impact on energy consumption. The average power consumption in France is more than 12GW lower than at the same period last year, or the equivalent of the production of 12 nuclear power plants! Continue Reading
All posts tagged weather variability
Energy Companies and Portfolio Managers Risk Exposure to Winter Volumetric and Price Risks
This past summer’s record-high temperatures in Southern Europe have demonstrated that without appropriate weather hedges in place, large energy consumers, energy companies and portfolio managers can be exposed to a dangerous level of weather risks. As winter approaches, unusually mild or extremely cold temperatures are a further threat. Now is the time for these businesses to buy a hedge to protect themselves from temperature uncertainties or risk aggregated losses as the effects of climate change continue to bring unseasonal weather and unexpected and extreme weather events. Continue Reading
With Growth of Renewables, Increased Demand for Weather Insurance
For the fifth consecutive year, investment in new renewable power capacity was roughly double the investment in fossil fuel generating capacity, reaching USD 249.8 billion in 2016. The world now adds more renewable power capacity annually than it adds in net new capacity from all fossil fuels combined. However, wind and solar energy producers and distributors face unique challenges in both volumetric and price risks. The remarkable progress being made in renewables requires innovative risk mitigation solutions in order to ensure that the pace of investments in wind and solar continues. Continue Reading
Meteo Protect Nominated for the European Fintech Awards 2017
Meteo Protect, an SAP® Startup Focus member, and Europe’s leading provider of weather risk insurance, has been nominated by stakeholders, users and experts as a leading “Insur Tech” for the European Fintech Awards 2017. Winners will be determined by a combined public vote and expert assessment, with awards being given at the European Fintech Awards and Conference in Brussels on 27 September. The European Fintech Awards 2017 celebrates “innovators that shape the future”.
Continue Reading