Mr. Antoine Eustache, Ph.D. - Principal
Mr. Eustache holds a doctorate in energy policy with a proven record as an innovative problem solver in the gas and power markets. Internationally known for his work in the electric and gas markets, emissions trading, and weather derivatives, Mr. Eustache has tracked the evolution of markets across the globe. Currently involved in researching investment opportunities for merchant power generation by analyzing basis differentials, spark spreads and forward price trends, Mr. Eustache's extensive experience and knowledge provides valuable insight for clients.
AQUILA MERCHANT SERVICES
Director of Market Analysis - Ongoing research and analysis of the U.S.
power and gas markets. Researched investment opportunities for merchant
power generation. Analyzed basis differentials, spark spreads, and forward
price trends and made recommendations to senior traders in charge of mid
and long-term trading.
DOW JONES & COMPANY
Global Manager, Product Development, Electric Power and Natural Gas -
Responsible for research and trend analysis in electric power, natural
gas, weather derivatives, and emissions trading. Maintained strong rapport
with traders, risk managers, and government officials. Tracked evolution
of market hubs in the U.S., Canada, Europe, and Asia. Led and mentored
international teams of analysts to identify business opportunities and
develop real-time news and information products for the world’
s largest wholesale news organization.
Senior Analyst, Electric Power and Natural Gas - London, Developed
and promoted Dow Jones power and natural gas services in Europe. Initiated
and led round-table discussions with utility executives and government
officials to provide the framework for creating market hubs for the
emerging natural gas and power sectors in Europe. Performed econometric
and options pricing modeling to analyze market behavior and evaluate
potential uses of gas and power price indexes in the over-the-counter
- Contributed to the development of the Swiss power market hub
through the creation of the Swiss Electricity
Price Index, the first
electricity index in Continental Europe.
- Created the Dow Jones/VIK Industrial Electricity Price Index in
cooperation with VIK, Germany's trade representative
for over three
hundred industrial electricity customers.
- Created the Dow Jones U.K. Natural Gas PriceIndex.
- Contributed to the development of the Central European power market
hub through the creation of the Central European
||Project Manager, Electric Power - Developed,
marketed, and implemented Dow Jones strategy for entering North
American power market. Worked in a team environment with Dow Jones
staff and members of the Western Systems Power Pool, one of the
largest trade organizations in North America, to create a computerized
electricity trading system for their members. Worked with systems
and software personnel, utility executives across the United States
to develop product specifications and network configuration for
Dow Jones' electricity trading system. Initiated and led round-table
discussions with utility executives to lay the foundation for
creating power market hubs across the United States. Made presentations
to Dow Jones' Board of Directors and senior management to increase
awareness of, and generate support for, ongoing power projects
in the US and Europe. Studied potential impact of electricity
spot price indexes on the growth of electricity derivatives and
planned strategies for developing electricity spot price indexes
in the US and in Europe. Wrote marketing literature to promote
Dow Jones' power service in the United States and in Europe.
- Designed and implemented Dow Jones Electric Power Service.
- Provided the conceptual framework and assisted in creation of Dow
Jones' Electricity Trading System.
- Contributed to the development of the California-Oregon border power
market hub through the creation of the Dow Jones California-Oregon
Border Electricity Price index, the first price index in the US power
- Designed and implemented Dow Jones Natural Gas Service.
- Exchange Traded Everything . The Journal of
Index Issues in Investment,
Dow Jones & Company,April-June 2000.
- The Importance of Market Indexes in Converging
Industries, in P. Fusaro
(ed.) EnergyConvergence: The Beginning of the Multi-Commodity
John Wiley & Sons, Inc.
- Energy Indexation: Analyzing the Scope of Electricity
Price Indexes, in P.
Fusaro and J. Wilcox(ed.), Energy Derivatives: Trading Emerging
Energy Publishing Enterprises
- The Evolution of the U.S. Power Market, in P. Fusaro,
(ed.), Energy Risk
Management: Hedging Strategies and Instruments for the International
Energy Market. McGraw Hill
- The Swiss Electricity Price Index: A New Benchmark
for Pricing European
- DJ-COB Electricity Price Index Explodes onto Commodities
Market with a Bang, EnergyMarketing, Pennwell Publications
University of Pennsylvania, Philadelphia, Pennsylvania.
Ph.D. (1993) and MS (1990) in Energy Policy. Dissertation: Economies
of Scope in the Electric Power Industry.
Eastern College, St. Davids, Pennsylvania. MBA, Finance
Drexel University, Philadelphia, Pennsylvania. BS Humanities & Communications