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A successful gathering for all participants at the:

2nd Energy Finance Christmas Workshop

Sydney Harbour

This year's workshop was held in Sydney - in the southern hemisphere summer - close by the shores of the stunning harbour, in the lead up to Christmas.

The conference hotel is the Vibe Hotel, Milsons Point, North Sydney. It is also the conference venue (view map)
Hotel bookings can be made directly through Vibe, but you may wish to use these discount websites which offer non-refundable rates at a lower price for advance bookings.

Travelling from the Airport

To travel to the Vibe Hotel, Milsons Point, North Sydney:

By taxi:

Request the driver takes you to Vibe Hotel, Milsons Point, North Sydney, next to Milsons Point railway station, and uses the Alfred Street exit once over the Harbour Bridge. Depending on traffic, about 15-20 mins from airport. Tolls will be added to the fare.

By train:

The airport train (green line) runs into the city every 15 minutes or so. You will need to change trains at Central onto either the red or yellow train lines that cross the Harbour Bridge. Its three stops from Central to Milsons Point station, and the hotel is opposite the station. The International Airport Station entry is in the terminal building.

The NSW Transport Info Website can help you plan your trip on Sydney's public transport.

Here is a map of the suburban train system.

Information on transport links from the airport to the city/North Sydney

Entry requirements to Australia

Visitors to Australia attending workshop will need to check their visa requirements and most travellers will require a visa or similar electronic permit. General information at the Department of Immigration website.

Here is some information for people travelling to Australia to attend an event (PDF).

Please read this document carefully to be sure you apply for the correct visa or travel authority. Visitors from the EU and a number of European countries have different requirements from other countries. Most applications can be made online.
Please apply for your visa well in advance of travel. If you are travelling with family members, each person will require their own entry visa.


Quarantine laws in Australia are among the strictest the world. If you bring any food with you including confectionery or packaged items it must be declared upon arrival. You will be allowed to keep most items if they are commercially prepared, but bringing any fruit and other plant matter into the country is generally not permitted.  Here is some information on Quarantine restrictions.

More about Sydney

The Visit NSW website contains more information about Sydney, which will help you plan your visit.

Confirmed speakers include:

  • Rafal Weron - Wroclaw University of Technology
  • Sjur Westgaard - Norwegian University of Science and Technology
  • Stefan Trueck - Macquarie University
  • Rodney Wolff - University of Queensland
  • Takashi Kanamura - J-POWER, Japan
  • Andrew Worthington - Griffith University
  • Joe Maisano - Trading Technology Australia

Download the program for the day (PDF)

Day One: Thursday 13 December, Vibe 1 & 2

Time Workshop
8:30 - 9:30 Registration and coffee
9:00 - 9:10

Stefan Trueck


9:10 - 9:50

Rafal Weron

Forecasting of day-ahead electricity prices: Can model averaging improve our predictions?

9:50 - 10:30

Fernando Tiglio and Conrad Fonseca

Managing Energy Supply System Performance Using Project Portfolio Optimisation Approach

Download the Evans & Peck Presentation (PDF)

10:30 - 11:00 Break/ Morning Tea
  Oil and Commodity Markets
11:00 - 11:40

Ron Ripple

Crude oil furtures market: Does NYMEX trade and the decoupling of WTI and Brent affect ICE trade?

11:40 - 12:20

Rangga Handika

Convenience Yield Risk Premium in Commodity Market

12:20 - 1:30 Lunch
  Australian Electricity Markets
1:30 - 2:10

Helen Higgs

Forecasting the impact of generation mix on wholesale spot electricity prices in Australia

2:10 - 2:50

Chi Truong

Modelling Price Spikes in Electricity Markets – the Impact of Load, Weather and Capacity

2:50 - 3:30

Joe Maisano

An Analytical Model for PASA-Based Load Forecasting in the NEM

3:30 - 4:00 Afternoon Tea
4:00 - 4:40

Roselyne Joyeux

International Natural Gas Market Integration

4:40 - 5:20

Katarzyna Weron

Agent Based Modeling in Energy Markets


Conference dinner :  

     Bayly's Restaurant – downstairs at the Ensemble Theatre

                    78 McDougall Street, Kirribilli

Please allow 10-15 minutes to walk from the Vibe Hotel to the restaurant, located on the edge of Careening Cove. Walk via the Broughton St tunnel or railway station to reach Kirribilli, then down Willoughby Street. There are signs for the Ensemble Theatre. Alternatively, it is 3 minutes by taxi.

Day 2: Friday 14 December

Time Workshop

Forecasting in Electricity Markets

9:10 - 9:50

Sjur Westgaard

Analysis and Forecasting of UK Electricity Price Risks with Quantile Factor Models

9:50 - 10:30

Jakub Tomczyk

Robust Estimation and Forecasting of the Long-Term Seasonal Component of Electricity Spot Prices

10:30 - 11:00 Break/ Morning Tea

Dependence and Risk

11:00 - 11:40

Neda Todorova

Volatility Transmission in Energy Futures Markets

11:40 - 12:20

Rodney Wolff

Modelling the Dependence of Extreme Price Observations in Connected Electricity Markets Using Tail Copulas

12:20 - 1:00

Takashi Kanamura

Market Risk, Credit Risk, and Futures Trading in Commodity Markets

1:00 Lunch
2:30 - 6:30 Excursion to Manly Beach

There conference dinner was held on Thursday 13th December 2012 at Bayley's Restaurant - downstairs at the Ensemble Theatre.

Submissions of papers are now closed. For enquires please contact the workshop coordinator:

Selected papers of the workshop will be published in a special issue of the Journal of Energy Markets

EFC Dinner 1EFC Dinner 2Chi Truong

Fernando TiglioHelen HiggsJoe Maisano

Katarzyna WeronOpening DayRafal Weron

Rangga HandikaRon RippleRoseline Joyeux

Jakub TomcyzkNeda TodorovaOpening Day

Rodney Wolf and Adebayo AderonmuSjur WestgaardTakashi Kanamura

This informal workshop considered the latest developments in Energy Finance. It included - but was not limited to - the following topics: modelling of electricity spot prices, CO2 emissions trading, energy and commodity markets, carbon tax, quantitative techniques, weather derivatives, renewable energy, electricity price spike forecasting, the econometrics of oil and gas markets, power market data filtering and deseasonalising.The workshop was held in the two days before the

25th Australasian Finance & Banking Conference

at the University of NSW, also in Sydney.

For more information, please contact:

Linda Drake
Workshop Coordinator/Administrator

Centre for Financial Risk

Macquarie University
Tel +61-2-9481 4254
Mon-Tues-Wed 9.30-15.30