Experts in energy modeling, consulting and training!

KYOS offers specialized advise on trading and risk management in energy markets. Our expert team has years of experience in quantitative modelling and advisory services in commodity markets. Our sophisticated solutions are developed to support decision making, investment proposals and risk calculations. KYOS has a clear focus on the following areas: Products, Consulting and Training.

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    Kyos Consulting - News & Highlights

    News & Highlights

    • The Brexit may lead to 10% higher GB power prices

      Published: 2016.06.21
      KYOS market study reveals

      Using its fundamental analysis model, KYOS has quantified the potential implications of a Brexit. For the Brexit scenario, we assume 20% higher coal prices, 12% higher gas prices and 2.5% higher CO2 costs, though no changes in electricity demand, renewables production, imports or exports. This Brexit scenario leads to a higher power price, of 42.63 GBP/MWh, an increase of 9.5%. In this scenario, gas becomes more attractive relative to other fuels, and owners of gas fired power stations actually benefit from the Brexit, with extra revenues of about 8%.

    • Fundamentals & Monte Carlo

      Published: 2016.06.13
      NEW: Power Market Analysis Model

      Traditional fundamental market models rely on deterministic forecasts of fuel and emission prices. But these price drivers are actually very volatile. KyPF offers a unique solution to take better strategic decisions in volatile energy market conditions, merging fundamentals with Monte Carlo. More...

    • The carbon floor - implications for power plant hedging

      Published: 2016.05.20
      Published in Energy Risk May 2016

      The UK carbon floor mechanism has important implications for the valuation and optimal hedging of power stations. KYOS authors Vytautas Jurenas and Cyriel de Jong describe the mechanism and the financial consequences in an article published by Energy Risk magazine. They put the mechanism in a broader context of delta hedging market price risks of power stations, following the implementation in the KYOS Analytical software. More...

    • Improved shape TTF forward curve on

      Published: 2016.03.18
      Improved methodology

      KYOS is happy to announce it improved the shaping of the TTF forward curve. Only liquid products will be included in the construction of the forward curve. The result is a smoother forward curve, especially for the years 2018 and further. More...

    • Benefits of outsourcing energy analytics

      Published: 2016.01.05
      White paper: Lean and mean

      In this white paper publication, we advocate a move from expensive in-house developments to external solution providers for energy analytics. This will help analysts to spend more time on actual analysis instead of operational and development tasks. More...

    • Learn about market-leading Energy Analytics software

      Published: 2015.12.23
      KYOS at E-World 2016 in Essen

      On 16 - 18 February 2016, KYOS will again be present on the E-World, the primary European event for energy markets and energy trading. More...

    • KYOS chapter in best-selling energy risk book by V. Kaminski

      Published: 2015.12.23
      Managing Energy Price Risk

      Cyriel de Jong writes chapter for the fourth edition of the best-selling energy finance book "Managing Energy Price Risk" by Vince Kaminski. More...

    • MRI and KYOS launch electricity forward curve service in Japan

      Published: 2015.12.08
      Mitsubishi Research Institute partnership

      Mitsubishi Research Institute, Inc. (MRI), Japan’s leading energy think-tank, announced to launch a new service for Japan’s developing electricity market. The service makes available an electricity price forward curve, which will serve as a benchmark for Japanese market players. KYOS is technology and analytics provider in the partnership. More...

    • Cyriel de Jong speaks in Warsaw at Montel Market Insights

      Published: 2015.11.06
      KYOS presentation: market price dynamics

      KYOS was one of the invited speakers at the successful Market Insights event in Warsaw, organised by Montel. More...

    • AtRisk in KYOS Analytics

      Published: 2015.11.06
      Better insight in energy market risks

      Value-at-Risk and Earnings/Cashflow-at-Risk are now fully embedded in the KYOS Analytical Platform. Find out how they can help to manage the risk in volatile energy markets. More...

    • Energy Risk London - KYOS hedging workshop

      Published: 2015.05.20
      Energy Risk - hedging workshop 26 June

      Learn about effective hedging strategies for energy portfolios on June 26 in London. Workshop led by Cyriel de Jong of KYOS. More...

    • Gas storage review article published in JNGSE

      Published: 2015.05.18
      JNGSE gas storage review article

      The Journal of Natural Gas Science and Engineering has published an invited review article of Cyriel de Jong. Read here for more details. More...

    • The fair value of the Bergermeer gas storage SBU

      Published: 2015.04.22
      Presentation on Flame conference

      At the Flame conference 2015 KYOS presented an assessment of the fair value of the Bergermeer SBU. More...

    • NEW: Price curves for CEE region

      Published: 2015.04.10
      Hourly price forward curves

      KYOS has expanded it's service to publish hourly price forward curves to the CEE Region. More...

    • Meet KYOS at E-World 2015

      Published: 2015.01.23
      Meet KYOS at E-World 2015

      Meet KYOS at E-World 2015 More...

    • Gas market training course

      Published: 2015.01.01
      Book now: Amsterdam - 12 & 13 Oct

      KYOS training course - gas storage and swing contracts. Amsterdam: 12 and 13 October 2015. More...

    • KYOS on EMART Energy 2014

      Published: 2014.08.28
      EMART Energy 5-6 November 2014

      Meet KYOS on 5-6 November at the EMART Energy in Amsterdam More...

    • KYOS presentation: “Effects of market integration on Dutch power and gas price dynamics”

      Published: 2014.06.11
      26 June 2014 - Dutch Energy Days

      At Montel's annual Dutch Energy Day, Cyriel de Jong, director at KYOS, will present what effect the European market integration has on Dutch commodity price dynamics.

      The Dutch Energy Day is the annual get-together for the Dutch energy sector, focusing on traders, analysts and policy makers. Also this year the event will be concluded with a dinner cruise in the pleasant surroundings that make up Amsterdam. More...

    • GasTerra storage 2014 valued at 3.04 Euro per SBU

      Published: 2014.02.18
      KYOS independent assessment

      GasTerra offers virtual gas storage capacities in the Netherlands. For the third year in a row, KYOS performed an independent valuation of this product. The increase of more than 1 Euro per SBU relative to last year can be explained by a somewhat higher winter-summer spread in the forward market, and by a slightly higher market volatility. More...

    • Meet KYOS at E-World 2014

      Published: 2013.11.26
      Essen, 11 - 13 February 2014

      On 11 - 13 February 2014, KYOS will be present on the 14th edition of E-world. More...

    • KYOS Price Forward Curves available on Montel Online

      Published: 2013.10.17
      Co-operation Montel and KYOS

      Energy consultancy and software firm KYOS has made available its forward curves for the European power and gas markets on Montel Online. More...

    • Meet KYOS at the All Energy Turkey 2013 Conference

      Published: 2013.08.14
      Istanbul, 11-12 September 2013

      Meet KYOS at the All Energy Turkey 2013 Conference. More...

    • Meet KYOS at the Energy Trading CSEE conference

      Published: 2013.06.12
      Prague, 19-20 June 2013

      To

    • How to effectively delta hedge the value of a power station

      Published: 2013.06.05
      Backtest: a historical analysis

      Summary More...

    • Guidelines for valuation of energy real options

      Published: 2013.05.30
      KYOS white paper - power plants in focus

      Summary text More...

    • Rough storage - what is a fair trading value for 2013/2014?

      Published: 2013.03.28
      Rough storage - live trading strategy

      KYOS has started a live trading strategy to exploit the flexibility of the Rough storage V product. It is a dry trading strategy, so without taking actual positions. The purpose of this exercise is to to demonstrate how much money can be actually realized, and how. On a regular basis we will make publications, so interested parties can learn from our experience. All trading decisions are derived from the KyStore model, and are fully automated within the KYOS Analytical Platform. More...

    • GasTerra storage value declines further from 4.00 to 2.83 €

      Published: 2013.02.10
      10 Feb 2013: auction GasTerra storage

      GasTerra offers virtual gas storage capacities in the Netherlands. Capacity for 2013/2014 is auctioned twice: on 28 November 2012 the first auction led to a price of 3.63 €; the rest of the capacity is auctioned on 13 February 2013. This Standard Bundled Unit (SBU) has been valued with the KyStore software. The estimated value is 2.83 € per SBU (assuming 0% interest costs). This is 1.17 lower than estimated in November, and even 5.00 € lower than February last year.

    • Training Course - Power Generation Assets

      Published: 2013.01.15
      Amsterdam, 27-28 May 2013

      Highly valued training course for anyone active in the fields of valuation, risk management, investment or optimization of power generation assets. Course is held approximately twice a year. More...

    • Meet KYOS at the Flame Conference

      Published: 2013.01.15
      Amsterdam, 11-15 March 2013

      KYOS will present its gas market solutions for trading, pricing, optimization and risk management. We hope to meet you in the central meeting room of the Flame conference. We will help you understand how our offering of analytical software solutions can create an advantage for your company. More...

    • Meet KYOS at E-World

      Published: 2013.01.14
      Essen, 5 - 7 February 2013

      On February 5 - 7, 2013, the 13th E-world energy & water will take place at Messe Essen. KYOS will be present, and we will be pleased to welcome you and demonstrate our analytical solutions. We are looking forward to meeting you there! More...

    • GasTerra virtual gas storage value declined with 49% to €4.00

      Published: 2012.11.22
      28 Nov 2012: Auction GasTerra storage

      Via an auction arranged by APX-Endex, GasTerra offers virtual gas storage capacities in the Netherlands. Based on an independent assessment, KYOS believes € 4.00 is a fair price for a Standard Bundled Unit. More...

    • Training Course: Power Generation Assets (SOLD OUT)

      Published: 2012.10.28
      Amsterdam, 11 & 12 December 2012

      Training course on power generation assets: trading, valuation, optimization, risk management More...

    • Report: realize value with a gas storage in a difficult market

      Published: 2012.09.20
      Backtest of German gas storage

      KYOS performed a backtest to determine how much money can be realized with a gas storage under difficult market circumstances. More...

    • Publication: Non-parametric forward looking Value-at-Risk

      Published: 2012.07.27
      Journal of Risk, 2012

      The Journal of Risk published a paper about a new model for computer Value-at-Risk forecasts. More...

    • KYOS Course on Gas Market Flexibility Instruments

      Published: 2012.07.24
      Amsterdam - 1 & 2 October 2012

      KYOS presents a 2-day course on flexibility instruments in the natural gas market, focusing on gas storage, swing and take-or-pay contracts. More...

    • Gazprom VHP-NCG storage valued at 2.73 EUR/MWh

      Published: 2012.02.19
      18 Feb 2013 - Gazprom VHP-NCG storage

      Via an auction arranged by Store-x, Gazprom offers virtual gas storage lots connected to NCG. The auction is on 18 February 2013. The storage period starts 1 April 2013 and ends 1 April 2014. KYOS values the storage at 177 000 € and 135 000 € per lot assuming a discount factor of 0 and 5 %, respectively. Dividing by the working volume, this is 2.73 and 2.08 €/MWh. More...

    • Independent value assessment of Hamitabad: 644 mln EUR

      Published: 2012.02.02
      Valuation Turkish power plant

      Please contact us for the details behind the valuation. More...

    • KYOS methodology explained in Journal of Energy Markets

      Published: 2012.01.29
      Published in Q1-2012

      The Journal of Energy Markets published an article on gas storage valuation using a multi-factor price process. More...

    • Meet KYOS at E-World

      Published: 2012.01.02
      Essen, 7 - 9 February 2012

      On February 7-9 2012, KYOS will attend to E-World in Hall 1. We are looking forward to meeting you there. More...

    • KYOS consultants write chapter about Energy Derivatives

      Published: 2010.12.13
      'Practical Derivatives' book has been published

      Practical Derivatives: A Transactional Approach, 2nd Edition Consulting Editor: Jonathan Denton Authors include: Cyriel de Jong and Christopher Clancy (KYOS) More...

    • Sophisticated energy models made available for online usage

      Published: 2010.12.09
      Launch of

      Kyos has just launched an online version of its gas storage valuation model KyStore. It is available at With the online application, energy market players get easy access to sophisticated analytics. KyStore online helps you take optimal decisions in storage investment, daily trading activity and risk management. It supports both spot and forward trading strategies. More...

    • KYOS workshop Energy Risk Conference

      Published: 2010.08.09
      London - 14 October 2011

      KYOS will organize a 1 day workshop on the Energy Risk Conference in London. KYOS will outline how power plants can be valued, and how this value can be monitized with hedging. More...