Publication details

Hedging of Natural Gas on Selected Markets

Authors

BENADA Luděk LINNERTOVÁ Dagmar

Year of publication 2016
Type Article in Proceedings
Conference EUROPEAN FINANCIAL SYSTEM 2016: PROCEEDINGS OF THE 13TH INTERNATIONAL SCIENTIFIC CONFERENCE
MU Faculty or unit

Faculty of Economics and Administration

Citation
Field Economy
Keywords hedging; hedge ratio; spot; futures; forward
Description The following study focuses on one of the key primary energy commodities in the modern society. Two independent and different regional markets for natural gas are compared from the hedging point of view. The market of considered commodity is unique in its characteristics. In the paper will be examined the possibility of price risk hedging on two different markets with distinct level of market maturity and characteristics. One of markets is represented by the system of endogenous price mechanism while the other one is based on price indexed mechanism. The analysis will be carried out on US and European market of natural gas. In both cases, the methodology will be focused the short hedge position.
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