Each year the Commodity and Energy Markets Association (CEMA) confers a Best Paper Award and a Best PhD Student Paper Award based on the papers presented at its Annual Meeting. The presenting author of each of the winning papers receives a (total) prize of € 500 (five hundred euros). By April 15-the presenting author of candidate papers must become CEMA member. In addition, candidate papers for the Best PhD Student Paper Award must be presented by a PhD student, who must be a PhD student when the paper is submitted to the conference. The submitting author must specify during the conference paper submission process that they wish that their paper be considered as a candidate for one of the two awards. A paper can be considered as a candidate for only one of the two awards. The awards are announced at the CEMA General Assembly held at the CEMA Annual Meeting. A paper selected as winner of one of the awards but not presented at the CEMA Annual Meeting or presented by someone who is not the PhD Student in case of the CEMA PhD Student Paper Award will not receive an award.