After several tarnishing bankruptcies in the US energy industry, . Enron and Pacific Gas & Electric company (PG&E), and the subsequent series of credit rating downgrades by Rating Agencies, many industrial companies started to realize that one of their most important risks, counterparty risk, is significantly undermanaged. While market risk is the most watchful and largest risk faced by energy companies, particularly for gas and power marketers, credit risk is the next important factor. .
