news
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Dec 2011
STTM market goes live. Energy Edge offers supporting software.
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Dec 2011
Energy Edge drafts new AFMA electricity specialist manual chapter.
Angus Macleod, Managing Director
Angus Macleod has over ten years experience in the Australian electricity market.
Angus' initial experience in the electricity sector was as adviser to Shell Coal
Power Marketing in establishing and implementing their electricity risk management
and trading function prior to it being acquired by Intergen Australia. Following
that Angus gained six years experience in Manager Trading roles at CS Energy.
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The senior standing of Angus Macleod in the electricity market was reflected in
his election by peers as the Chairman of the AFMA Electricity Committee in 2005
and 2006. Prior to founding Energy Edge, Angus gained extensive experience in areas
ranging from implementing 'green field' trading policies, procedures and functions
to lead managing large commercial negotiations and projects.
Complementing Angus' experience in the electricity market is a further seven years
experience in domestic and international financial and commodity markets and over
four years as an auditor for Deloittes. Angus has experience in front and middle
office roles across a range of markets including base metals, precious metals, foreign
exchange, equity and interest rate markets.
In the role of Managing Director of Energy Edge since June 2006, Angus has project
managed teams to provide a wide array of clients with high quality advice and system
solutions across Electricity, Gas, Carbon, Water, Oil, FX and Environmental trading
and risk management issues.
Angus has written the manual for the AFMA Specialist Electricity module and delivered
the AFMA series of workshops on Electricity Derivative trading, and assessed candidates
for AFMA accreditation. He has developed and delivered professional training on
the structure and implications of Carbon markets and associated trading strategies.
Academic and Professional Qualifications
Bachelor of Commerce (University of Queensland)
Chartered Accountant
Certified Finance and Treasury Professional
AFMA Accredited Dealer
Graduate and Member of the Australian Institute of Company Directors
Elliot Tonkes, Director of Risk and Analytics
Elliot is an experienced and highly regarded analyst with an outstanding background
in commercial and academic environments with over seven years experience in the
Australian energy market. He has experience in energy markets as the chief analyst
at a major generator.
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Elliot has over five years in teaching and research roles with a focus on financial
mathematics, as Assistant Professor in mathematics at Bond University and Mathematics
Lecturer at the University of Queensland. Elliot has had a wide range of professional
publications accredited to his name.
As Director of Risk and Analytics at Energy Edge since September 2006, Elliot has
provided high quality advice to analysts, and implemented solutions for a range
of risk management issues in electricity, gas and environmental product trading.
Elliot is responsible for the design and development of Energy Edge's suite of proprietary
software and project managed several major deal capture and risk management bespoke
software development projects for our clients.
Elliot has delivered the AFMA series of workshops on Electricity Derivative trading
and the Electricity Specialist workshops.
During this time Elliot led teams to perform forecasting,
risk quantification, pricing and analysis of derivatives and structured financial
products, strategy evaluation, project valuation, system development and software
implementation. Elliot has a strong knowledge of financial derivatives, ability
to analyse complex commercial circumstances and modelling capabilities along with
extensive experience in business development activities and business planning processes.
Academic and Professional Qualifications
PhD (Mathematics) - University of Queensland
Graduate Certificate in Economics - Griffith University
Bachelor of Mechanical Engineering (First Class Honours) - University of Queensland
Bachelor of Science (First Class Honours) - University of Queensland
Member of the Australian Mathematical Society (AustMS and ANZIAM)
Nick Denman, Risk Consultant
Nick Denman has over five years experience in the Australian electricity and environmental
markets. Nick brings a wide range of skills suited to participants in the energy
market, having performed Middle and Back Office roles and gained exposure to Front
Office activities in the electricity sector.
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Nick has also performed contracting
roles with several electricity generation companies particularly in the areas of
derivative pricing, development and review of pricing systems, Mark to Market activities
including hedge effective accounting, Hedge effectiveness tools and system development,
Value at risk and other risk methodologies, Trading and risk management system design,
implementation and testing.
Since joining the Energy Edge team in March 2007, Nick has utilised his strong understanding
of Front to Back Office practices through his involvement in the development and/or
enhancement of other market participants’ systems and processes. Nick has successfully
led a number of trading and risk system design, development and testing projects
for major Australian energy clients. Nick has extensive experience in projects relating
to electricity, gas, and environmental markets.
Nick’s IT skills footprint covers a large array of languages and database technologies,
including SQL, Oracle, Matlab, WPF, Java, C, Fortran, Perl, and PHP. He has developed
add-on software modules which integrate with proprietary deal capture and risk systems
to provide additional risk and reporting capabilities. Nick has also actively managed
the integration of legacy systems during the implementation of large enterprise
trading software systems. He has a thorough understanding of database architectures
and the issues associated with implementation and integration of applications to
existing and new databases.
Academic and Professional Qualifications
Masters of Philosophy, University of Queensland (Australian Postgraduate Award,
Australian Research Council)
Bachelor of Science (Honours Class I in the Field of Mathematics - University Medal
for Outstanding Scholarship)
Tim Dutton, Trading and Risk Consultant
Tim Dutton has more than ten years experience in the Australian electricity sector.
Tim brings a wide range of skills suited to participants in the energy market, having
developed a high level of understanding of the workings of both the Front and Back
Office during his time at CS Energy.
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During his three years as the Senior Energy Trader at CS Energy, he applied a broad
understanding of the traded electricity market, and the factors that influence price
movements and traded volume. He also initiated a number of improvements in both
the company’s risk management and reporting software, and also in its trading practices.
In addition to his contract trading skills Tim also has approximately 12 months
spot trading experience.
Prior to undertaking trading roles at CS Energy, he held the position of Treasury
Manager, which involved the management of CS Energy’s Back Office, Credit and Corporate
Treasury functions. Whilst in this role, Tim was responsible for redeveloping and
implementing the company’s Credit and FX policies, writing Board submissions detailing
the Group Financing Plan, developing practices and procedures to both obtain an
Australian Financial Services Licence, and to trade electricity futures on the SFE.
In roles prior to his involvement in the electricity sector, Tim’s financial background
was established through five years in international financial markets with the Royal
Bank of Scotland, and three years as an auditor with PWC.
Since joining the Energy Edge team, Tim has applied his broad understanding of Front
to Back Office practices through his involvement in and enhancement of other market
participants’ systems and processes. Tim has led projects ranging from policy developments
and gas industry reviews to the review of commodity trading strategies and due diligence
work on major energy asset acquisitions. He has achieved significant expertise in
gas markets and the processes around NGAC, GEC and REC environmental product trading.
Tim regularly delivers the AFMA series of workshops on Electricity Derivative trading.
Academic and Professional Qualifications
Bachelor of Business (Acct) QUT
Chartered Accountant
AFMA Accredited Dealer
Josh Stabler, Trading and Risk Consultant
Josh Stabler has joined the Energy Edge team with over eight years of experience
in the Australian electricity market.
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Starting out in an IT role in the Trading division of Stanwell, Josh was transferred
in to the Spot Trading section within three months, where he was responsible for
the physical dispatch of the 1400MW coal-fired Stanwell and $350M p.a. in pool revenue.
During the four and half years at Stanwell, Josh was given exposure to spot trading,
forecasting and budget, middle office and risk, and was involved heavily in Contract
Trading System development.
This breadth of knowledge set him up for the shift from a large corporate to the
private sector when he joined NewGen Power as Spot Trading Manager in early 2006.
With a small core group, Josh was able to actively seek responsibility of many aspects
of the company including:
- Spot and contract trading for the electricity, gas and green markets
- Forecasting, regulatory, analytics and budgeting of all commodity markets
- Cash flow, financial and board reporting
- Generator operational maintenance planning
- Trading system design and implementation
In May 2008, NewGen Power was incorporated into Babcock and Brown Power, which had
recently acquired NRG Flinders and Alinta. During his time there, Josh was promoted
to the Market Operations Manager of one of the largest and most regionally
diverse generators in Australia, with electricity generation assets and gas market
positions in every state of the NEM and WA. While heavily involved in the optimisation
of the portfolio, Josh also trained and educated three spot traders while handling
the change management of incorporating and then diversifying and handing over assets.
Academic and Professional Qualifications
Bachelor of Computer Systems Engineering (Honours 1), University of Queensland
AFMA Core Accreditation
Antony Stace, Risk Consultant
Antony Stace comes to the Energy Edge team from a diverse background in electrical
engineering, IT, investment banking, and quantitative consulting. Antony has a wide
range of risk management experience from working on numerous consulting projects
through to working on the front desk of Commerzbank Securities as a quantitative
analyst pricing exotic interest rate products.
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He has performed a large amount of work in relation to managing Electricity, Carbon,
Metal, and Gas risk. Recent work he has performed includes
- Research and analysis on the gas supply fundamentals and its implications for the
electricity market
- Developed a methodology to price Carbon permits sourced from the primary market
for a large electricity generator
- Developed and implemented a methodology to price and value Carbon option contracts
for a large electricity generator
- Acted for a client as a subject matter expert for the risk component of a large
deal capture and settlements system during acceptance testing
- Worked on a large project quantifying the risks associated with the CPRS for a large
electricity generator
- Valuation of gas storage
- Numerous small projects quantifying risk for electricity portfolios
Prior to joining Energy Edge he was a consultant for a major consulting firm. He
developed advanced credit models and helped quantify the risk appetite for a big-4
Australian bank as part of their Basel II compliance program. During this time he
was also involved in commodity market modelling, including:
* Capital costs modelling for a large company for projects between $50-500M with a
large metals and foreign exchange exposure.
* Development of a credit methodology to calculate peak exposure for a portfolio of
derivative contracts on metals for a European investment bank.
While working at Commerzbank Securities in Tokyo he helped priced existing products,
bring new products to market, and roll out a new pricing methodology.
Antony has vast systems experience in several IT companies in Australia and Japan,
implementing large and small scale systems ranging from customer relationship management
systems, risk management systems, to defence systems. Antony’s IT skills footprint
covers a large array of languages and web and database technologies, including Java,
C, C++, Fortran, Pascal, Perl, SQL, Visual Basic and PHP.
Academic and Professional Qualifications
PhD (Mathematics) University of Queensland
Bachelor of Electrical Engineering (Second Class A Honours), University of Queensland
Bachelor of Science (First Class Honours in Mathematics), University of Queensland
Boris Babic, Technical Consultant
Boris has a long association with the electricity and energy sector in Queensland
with many years of experience in the trading operations of major diversified generators.
Boris has designed and built analytical software to perform market simulations,
risk analysis and reporting, as well as sophisticated algorithms to perform optimal
dispatch of power stations under various energy and operating constraints. Boris
has an outstanding knowledge of the market operations covering physical gas and
electricity markets and the financial markets of electricity derivatives.
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Boris was employed by The MathWorks as an Applications Engineer working in the finance
industry to help customers address their business challenges. The customers included
all the major IB's, hedge funds, and major power companies such as Constellation
Energy. He developed apps for NYSE and Calpers using MATLAB. He has experience delivering
product demonstrations in NYC, Toronto, Montreal, Houston, Sydney,Melbourne,Wellington.
Boris has an academic background in Physics. He was previously employed by the Mathworks
(the developer of Matlab) as a software consultant to enhance the Matlab product
and to bring together academic and industry knowledge to enhance business outcomes.
He has a strong ability to analyse complex circumstances and to perform modelling
and then implement the solutions in software ready for use by clients and customers
alike.
Academic and Professional Qualifications
Bachelor of Science (Honours in Physics) - University of Queensland
Stephen Clapham, Technical Consultant
Stephen has joined the Energy Edge team with extensive software development experience
in optimisation algorithms and delivering retail platforms. Stephen brings considerable
expertise to the team for implementing high-end algorithms to electricity and environmental
market analysis.
more...
Prior to involvement in the electricity sector Stephen has been the key developer
implementing a web-based software system for retailing. He previously worked in
the software sector for transport and logistics implementing software for route
optimisation and scheduling and cost analysis. Stephen's original background is
a scientific one, with training in mathematics and a significant term of employment
at the CSIRO.
Academic and Professional Qualifications
Bachelor of Mathematics - Queensland University of Technology
