Volatility
“Our earnings aren’t as much dependent on the absolute price of the commodity as they are on volatility,” says Dynegy CEO Chuck Watson. (Business Week, April 7, 2001)
“The markets have been volatile, and we’ve made money on the volatility,” said Robert Brace, Duke’s CFO. (Charlotte Observer, October 17, 2001)
“Key factors affecting lower first-quarter results were lower prices and volatility. By contrast, higher prices and robust volatility favorably impacted Aquila’s Wholesale and Domestic Networks in 2001.” (Aquila Press Release, April 19, 2002)