Insights

Master dark spread calculations for coal-fired power plants: efficiency factors, carbon emissions at 0.96 tCO2/MWh, fuel switching economics, and why European coal is disappearing. Includes Python implementation, worked examples with 2026 prices, and comparison to spark spreads.

Master global gas market dynamics: LNG shipping economics, netback pricing, storage arbitrage, and why UK prices track Henry Hub with a 6-8 week lag. Essential foundation for understanding the gas input costs in spark spread calculations.

Master MTM P&L from first principles: the core formula, realized vs unrealized P&L, why sign matters, real-time monitoring, and interpreting hedge-effective portfolios. The foundation for daily risk management, margin calls, and performance measurement.

Master the physical foundations of energy trading: instant grid balance, merit order dispatch, and how infrastructure constraints create trading opportunities. The essential foundation for understanding spark spreads, gas shipping, and storage arbitrage.

Master position aggregation from first principles: signed quantities, the three-key rule, physical vs financial splits, delta exposure, and hedge ratios. Includes Python implementation of a position engine - the foundation every trading system uses.

Master spark spread calculations: efficiency factors, carbon emissions, hourly variation, and why plants run at losses. Includes Python implementation and real-world trading strategies for CCGT dispatch decisions.

Comprehensive guide to physical vs financial energy trading in UK and European markets. Covers spatial arbitrage (NBP-TTF pipeline trading), temporal arbitrage (storage economics and forward curves), quality arbitrage (spark spreads), and the software architecture challenges of building integrated ETRM systems. Essential for engineers, quants, and aspiring energy traders.

Learning an ETRM system is like learning Excel to be a CFO. Discover why the real value lies in understanding the business and the market, not the specific trading tool.

Learn energy trading fundamentals from a software engineer's perspective. This comprehensive guide explains spot vs forward markets, hedging mechanics, physical vs financial settlement, exchange vs OTC trading, and how Python-powered analytics pipelines create competitive advantage in UK energy markets.

A software engineer's guide to becoming a quant by mastering stochastic calculus. Using Steven Shreve's famous textbook as a roadmap, this article translates complex topics like Itô's Lemma and binomial models into developer-friendly analogies. Learn how to bridge the gap between deterministic code and the probabilistic models that run financial markets.

Bridge the gap between simple Python scripting and building enterprise-grade software with the new book by Jordan Dimov. This guide instils the mindset of a seasoned software engineer, focusing on production-quality code, reusable patterns, and managing complexity. Master the fundamental skills needed to build reliable, maintainable, and scalable business software.