  Based on forward curves modelled as Hilbert-space valued processes, we
analyse the pricing of various options relevant in energy markets. In
particular, we connect empirical evidence about energy forward prices known
from the literature to propose stochastic models. Forward prices can be
represented as linear functions on a Hilbert space, and options can thus be
viewed as derivatives on the whole curve. The value of these options are
computed under various specifications, in addition to their deltas. In a second
part, cross-commodity models are investigated, leading to a study of square
integrable random variables with values in a "two-dimensional" Hilbert space.
We analyse the covariance operator and representations of such variables, as
well as presenting applications to pricing of spread and energy quanto options.
