Craig Pirrong, Professor and Director of Energy Markets for the Global Energy Management Institute at UH C. T. Bauer College of Business, has been named to an advisory committee that will provide a public forum to examine emerging issues related to energy markets and the role of The Commodity Futures Trading Commission under the Commodity Exchange Act.
In being named to the Energy Markets Advisory Committee, Pirrong will join other representatives from a cross-section of the industry who have knowledge of the energy markets, including exchanges, producers, market users, and consumers.
“Energy markets and prices are critical to all Americans,” said CFTC Acting Chairman Walt Lukken in announcing the formation of the committee. “The role of the futures markets for discovering prices and managing energy price risks will continually raise new regulatory issues. Establishing this advisory committee will help us to meet these regulatory challenges and improve our understanding of and communication with the energy markets.”
Pirrong joined Bauer in 2003. Dr. Pirrong previously was the Watson Family Professor of Commodity and Financial Risk Management, and Associate Professor of Finance at Oklahoma State University. He has also served on the faculty of the University of Michigan Business School, the Graduate School of Business of the University of Chicago, and the Olin School of Business of Washington University in St. Louis. He holds a Ph.D. in business economics from the University of Chicago.
Professor Pirrong’s research focuses on the economics of commodity markets, the economics of manipulation of derivatives markets, the relation between market fundamentals and commodity price dynamics, and the implications of this relation for the pricing of commodity derivatives.
His recent research is concentrated on the power markets. He has created a power derivatives pricing model that links observable fundamentals (e.g., temperature, loads) to power derivatives prices. Professor Pirrong has also published extensively on the economics of financial exchanges. He has published 30 articles in professional publications and is the author of three books. Professor Pirrong has consulted widely. His clients have included electric utilities, major commodity processors and consumers, and commodity exchanges around the world.
By Julie Bonnin
About the University of Houston
The University of Houston, Texas’ premier metropolitan research and teaching institution, is home to more than 40 research centers and institutes and sponsors more than 300 partnerships with corporate, civic and governmental entities. UH, the most diverse research university in the country, stands at the forefront of education, research and service with more than 35,000 students.
About the Bauer College of Business
The C.T. Bauer College of Business has been in operation for more than 60 years at the University of Houston main campus. Through its five academic departments, the college offers a full-range of undergraduate, masters and doctoral degrees in business. The Bauer College is fully accredited by the AACSB International – the Association to Advance Collegiate Schools of Business. In August 2000, Houston business leader and philanthropist Charles T. (Ted) Bauer endowed the College of Business with a $40 million gift. In recognition of his generosity, the college was renamed the C.T. Bauer College of Business.