Against the backdrop of headlines announcing the latest arrest in the natural gas price trading scandal, a panel of energy experts agreed that the energy trading market will ultimately survive, albeit in a vastly different shape. Debbie Wernet, president of Shell Trading Gas & Power, recalled that in the late '90s, Wall Street placed high valuation on growth companies, and the industry decided that competitive generation and trading was its answer to investor demands. "Now, skepticism about the functioning of competitive markets, trust erosion, and creditworthiness has challenged decisions to deregulate, which was a major part of the ability of the business to grow. Today, there is an increased focus on customers and physical commodities," she said, adding that "In our view, there is no question that there is definitely a place for marketing companies helping companies manage the gaps and the swings in normal supplies. That applies to producers as well as end users."
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